Although cryptocurrency just started taking off over the last decade or so, large corporations aren't hesitating to go all on in the crypto front. The latest is Walmart (NYSE:WMT), which has posted a job ad for an expert on all things crypto.
Walmart is following in the footsteps of Amazon (NASDAQ:AMZN), which recently sought its own crypto expert. What does this mean for the future of payments at Walmart and beyond?
The ideal candidate won't be just any old crypto enthusiast. According to the company, the candidate must be a "visionary leader who has a history of leading and scaling businesses." That person will own and spearhead all things digital currency at Walmart moving forward.
Walmart seeks a digital currency and cryptocurrency product lead
According to a recent job ad, Walmart is seeking a "digital currency and cryptocurrency product lead."
Considering the retail chain doesn't currently accept cryptocurrency as payment, the person who ultimately fills the role will have to cut the cloth themselves.
This is a senior level role requiring 10+ years of experience in business, know-how to maneuver through cryptocurrency ecosystems, an MBA, and other preferred qualifications.
This isn't Walmart's first foray into blockchain technology
Despite not yet accepting crypto payments, Walmart does have experience using blockchain technology behind closed doors.
Crypto protocols are built on different blockchains (like the Bitcoin or Ethereum blockchain, for example). However, blockchains have other functionalities, like banking or management. Walmart uses blockchain to digitize and decentralize its food supply chain processes. Considering its 10,500 storefronts and e-commerce platform that generates $43 billion in annual revenue, a decentralized and secure approach to supply chain management makes sense.
Right on Amazon's tail
Amazon posted its own job ad targeting a crypto expert in late Jul. 2021. The move pushed Bitcoin's value up by 11 percent by the following day. On the contrary, Walmart doesn't seem to be having the same impact as Amazon did on the flagship coin. As of early Aug. 17, Bitcoin had fallen 1.13 percent in the last 24 hours. Still, the coin holds a value of $46,602.75, which is immense considering where the coin came from.
Walmart, it seems, wants to hop on the bandwagon before it's too late.
What's next for Walmart's crypto integration?
Walmart's job ad doesn't specify where the company is headed next in terms of cryptocurrency development. However, it seems that Walmart expects the future employee to listen to the crowd and find out what the people want. There will also be crypto-related investments and partnerships, which could mean big things for Walmart's bottom line (assuming Bitcoin and altcoin values continue to swing upward in the long term).
All things considered, Walmart has made the choice to move forward with crypto one way or another. The company hopes its first in-house crypto expert will define exactly what's next and help the company make the right moves to get there.