🥛Walmart's CTO: Crypto will play a big role in retail. Here's why..👀
- Writer Milk Man
- October 19, 2022
- •3 Min Read
GM. This is the Milk Road. The crypto newsletter that has as much flavor as your fingertips after devouring a bag of Cheetos.
Here’s what we got for you today:
- Walmart CTO: Crypto will play a big role in retail
- Do Kwon is back for another interview
- Quick Bites
- Meme of the Day
WALMART'S CTO SAYS CRYPTO WILL PLAY A BIG ROLE IN RETAIL
Walmart is huge.
In fact, it makes more revenue than any other company in the world (~$570b in annual revenue). And it's been that way for the last 10 years.
But what you might not know is... Walmart loves crypto & blockchain tech.
Their CTO Suresh Kumar jumped on an interview this week where he dropped some gems on why crypto will play a big role in retail & their digital strategy.
He thinks there are 2 major areas that crypto & blockchain can disrupt:
1/ Payments - Suresh says crypto will become an important part of how customers transact and there will be a major change in payment options.
2/ Product discovery - he says customers will shift to discovering new products in the metaverse in the future (vs just going to the store).
And Walmart has already been pretty active within the Web3 space. Over the last year they’ve:
- Integrated blockchain tech to let them better track the origins of the produce & products they sell. And they’re experimenting with other ways it can make their supply chain more efficient
- Launched 2 new metaverses in Roblox (Walmarts Universe of Play and Walmart Land) where users can buy virtual/physical items & play other metaverse games with friends
Now it looks like the King of Revenue is taking a serious look at how crypto can disrupt everyday transactions. Walmart crypto payments coming soon??👀
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DO KWON IS BACK FOR ANOTHER INTERVIEW
Do Kwon is back with another interview. It’s only the 2nd time Do has spoken publicly since the $40b+ collapse of Terra over 5 months ago.
Yesterday he was interviewed by Laura Shin from the Unchained pod. And Laura had nonstop 100-mph fastballs. She was throwing heat like Roger Clemens.
Here are the top takeaways from the 90-minute interview, all in 90 seconds:
- Do believes the charges against him in South Korea are not valid. Since crypto regulation doesn’t exist there yet he believes the charges aren’t applicable
- Do hasn’t answered the South Korean arrest warrant or Interpol red notice because he says he hasn’t seen them. I’m gonna tell Verizon the same thing the next time they ask why I didn’t pay my phone bill
- Do doesn’t believe he committed any fraud. He says Terra wasn’t a scam, just a massive market failure
- Do is working on new projects. He said he still wants to contribute to the crypto space and is happy to be doing more lowkey work now
- Do’s message to investors & users: “I take full responsibility for everything”
Do faced tougher questions this time, but we still haven't gotten answers for: when investors will get compensated, how much money he made, and where he is.
And while Do says he's working on new projects, the Milk Man says he wouldn't touch them with a 10-foot pole.
A16Z launches a new accelerator, Crypto Startup School. It comes with a $500k investment, mentorship, and a big ass network of other founders & investors
Guinness World Records just featured crypto for the first time in a new segment called Cryptomania. Bitcoin, CryptoPunks, Beeple, El Salvador, etc all made the list.
South Korean government will launch blockchain-based docs to replace physical cards by 2024.
Decentraland is throwing a virtual music festival with Dillon Francis, Soulja Boy, and Ozzy Osbourne. Talk about random. Just imagine a convo between these 3...
3AC liquidators want to subpoena Kyle Davies & Su Zhu via Twitter and email since other methods have failed. The SEC & CFTC are also reportedly investigating the 3AC founders.
MEME OF THE DAY
Gotta flex any, and all, gains🤣
That's a wrap for today, ladies & gents. See ya tomorrow!
If you want more, be sure to follow our Twitter (@MilkRoadDaily)
A ROADERS REVIEW
VITALIK PIC OF THE DAY
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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