Walmart is joining a growing number of multinational and Fortune 500 companies that are exploring cryptocurrencies. Walmart is now reportedly hiring a cryptocurrency expert to explore and expand its virtual payment options.
Based Out Of Arkansas
The opening is based out of Arkansas, from Walmart’s Bentonville headquarters. It will head the responsibility of developing Walmart’s product roadmap and strategy when it comes to digital currencies and virtual payments. The position will also come with the responsibility of identifying crypto-related investment strategies and partnerships.
Surging Investment And Rising Number Of Jobs
With a significant rise in investments in cryptocurrencies, there has also been a huge surge in demand for jobs in the crypto space. According to a report by Indeed Hiring Lab, job postings related to cryptocurrencies have jumped by 118%, compared to the same time last year.
Hiring has also diversified and has gone beyond just product development roles or engineering positions, with roles such as accounting and human resources also being scouted.
The Walmart Posting
According to the Walmart posting reported by Bloomberg, Walmart is on the lookout for a “visionary leader” who has ten years of experience in product management or technology to help the retail giant develop its blockchain strategy. The posting further stated that an individual with a significant functional knowledge of cryptocurrencies and the cryptocurrency ecosystem would be preferable along with an entrepreneurial mindset.
Following Amazon’s Footsteps
Walmart’s move into cryptocurrencies comes right after Amazon put out an advertisement for a similar position for a “digital currency and blockchain product lead” for a position on their payment team. Speaking to CNBC when the posting was advertised, an Amazon spokesperson stated,
“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”
A Popular Sentiment
Other Fortune 500 companies such as Apple, JPMorgan Chase, and PayPal are exploring the crypto space and looking to hire for cryptocurrency positions. Other companies such as Starbucks, Home Depot, and Whole Foods have already started allowing customers to pay using cryptocurrencies through applications that convert digital currencies into US Dollars.
Cryptocurrencies have also found acceptance with both celebrities and investors from lower-income groups, especially women and low-income workers who are using cryptocurrencies to nurture and grow their wealth outside traditional investment avenues such as the stock market.
Regulatory Framework In The Pipeline
With crypto’s surging popularity, lawmakers have also started deliberating on taxes and other regulations on digital currencies. According to the director of talent acquisition for crypto exchange, Gemini, “The industry has reached a tipping point. Larger, well-established companies are recognizing the validity and longevity of crypto.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.