Reports out this week highlight that American commerce giants, Walmart, have filed for a patent which shows a blockchain based marketplace. The idea behind the blockchain in this, is that Walmart could record transactions and purchases from customers on the blockchain, then, using this platform, the customer could then go on to resell their product. By having authenticity from Walmart, within this blockchain, customers would be entitled to ask for more money for their products. Not only does this reduce the risk of counterfeit goods being wrongfully sold, it also ensures that receipts and transaction records can be kept on one, unified location.
The platform will look to provide all aspects of reselling to the customer and will therefore act as a point of sale within an online or mobile market place, the platform can then facilitate and of course, deal with payments within the sale. As I have previously mentioned too, the blockchain can be used here to prove authenticity.
You can read the details of the full patent application, here-
This is evidence of Walmart’s keen desire to continue to grow with new technologies. With more and more shopping websites moving towards cryptocurrencies and blockchain technology, Walmart are recognising some extra uses for the blockchain that are thus far unexplored. If Walmart’s patent is approved, then they could have the keys to a brand-new industry, a blockchain based eBay if you like. The implications of this are huge, assuming that this patent goes the way Walmart will obviously want it to.
Where does Ripple come into this?
Well, as we know, Ripple and MoneyGram are working closely together, moreover, Walmart and MoneyGram are also close partners. Therefore, many people are now speculating how one day, Ripple may have a physical presence within Walmart stores, that currently have MoneyGram desks. Perhaps in the instance of this new technology, Ripple’s services may be deployed to assist with the facilitation of the blockchain. Moreover, what if XRP is added as a payment option?
Of course, this is speculation based but we should consider that there is strength in the link between Walmart and MoneyGram and of course, in the link between MoneyGram and Ripple. These partnerships are confirmed and have been for some time. With all paths leading down the cryptocurrency adoption road, is it really that unrealistic to assume that one day, Ripple may have a physical presence within Walmart?
With Walmart now seemingly exploring the possibilities of the blockchain, this could take off sooner than we think.