Walmart Applies For Digital Currency Patent

Law360 (August 2, 2019, 8:59 PM EDT) -- The company that owns the trademark for Walmart.com recently submitted a patent application for a Walmart currency that would be backed one-to-one by the U.S. dollar, according to documents filed with the U.S. Patent and Trademark Office.

A patent application assigned to Walmart Apollo LLC, published Thursday, outlines how a new Walmart digital currency built on the blockchain could create a new retail experience devoid of credit cards, debit cards or cash. Peppered throughout the application are references to low-income households and the benefits that a Walmart digital currency could hold given the difficulties some households face opening bank accounts....

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