Odaily Frontline | Wal-Mart also wants a piece of the action? Or seek to issue a stable currency similar to Libra

This article comes fromThe Block, original author: Yogita Khatri

Odaily Translator |

Odaily Translator |

The U.S. Patent and Trademark Office (USPTO) announced on Thursday (August 1)documentdocument

(Application dated January 31, 2018) outlines a method for "generating a digital currency unit by pegging it to a conventional currency," a stablecoin pegged to a fiat currency.

The document added that the blockchain-based digital currency might “be pegged to the U.S. dollar” or be available “only at selected retailers or partners.”

It could also help low-income families who find banking costly, with the option to "handle their wealth with an institution that can meet most of their day-to-day financial and product needs," the documents show.Libra, Facebook's planned cryptocurrency, has similar ambitions. It intends to serve the unbanked and facilitate low-fee money transfers globally. Libra is expected to go live sometime next year, but it has already faced scrutiny from central banks and politicians around the world. Facebook recently said in a risk disclosure filing with the US SEC that due to "significant" regulatory scrutiny,。

Libra may never launch

Walmart's patent application further suggests that its digital currency seeks to provide a free or cheap place to store money. “The digital currency could provide a no-fee or minimal-fee place to store wealth, spend it at retailers, for example, and easily convert it into cash if needed. These accounts could even earn interest.”

It also added, "Digital currencies may be pegged to national currencies such as the U.S. dollar, so funds can be easily added or withdrawn. In some embodiments, digital currency values ​​may be pegged to other digital currencies." (Odaily Note: Examples are An illustration of a preferred embodiment of the invention or utility model.)

The document also mentions that, elsewhere, digital currencies could get rid of credit and debit cards without the need for cash (by providing a blockchain-secured digital currency) (Odaily note: According to the document, in some implementations For example, a digital currency could act as a pre-approved biometric credit, such as a fingerprint. A person is a "credit card" for their own bank of digital value), or it could be used to pay for food.Walmart is one of the most active players in the blockchain space, having applied for at least54 itemsBlockchain-related patents. recent,Walmart ChinaLaunched a blockchain platform to track products ranging from fresh meat to rice to mushrooms. The retail giant recently participated inThe Second Blockchain Drug Trial