Walmart and Amazon Are Exploring Issuing Their Own Stablecoins

https://www.wsj.com/finance/banking/walmart-amazon-stablecoin-07de2fdd

2•samuel246•4h ago

Comments

jqpabc123•4h ago

It will be kinda like a debt card --- but with less privacy and security and higher transaction fees.

And who wouldn't want that?

rvz•4h ago

"CrYptO hAs No uSe cAse"

Following from Stripe, Moneygram, PayPal adding stablecoins, we now have the shopping platforms integrating stablecoins such as Walmart, Amazon and now Shopify. [0]

[0] https://www.shopify.com/news/stablecoins-on-shopify

sjsdaiuasgdia•4h ago

The "stablecoin" part makes little sense. Walmart and Amazon could, with less effort, give customers store currency balances in a database. That would also let them bypass the existing payment processing industry.

It's almost as if "stablecoin" is a term included to make it sound fancier, cooler, more modern, or maybe just to push it a little further away from being called "company scrip".

clejack•3h ago

Honestly, it does make me wonder what they're thinking. Given the nature of what they're doing, the stable coin reference doesn't seem like it's necessary. Even for purposes of hype.

Telling investors you're going to make your own currency to bypass transactions fees from financial institutions seems like a fairly straightforward way to boost investor interest.

Wouldn't adding crypto mechanics to a virtual credit system just make for a costlier system due to mining?

If the transactions are maintained within an Amazon or Walmart ecosystem, there's no need for trustless verification, because you own the ecosystem. What's the point?

Ekaros•3h ago

As consumer I have no idea why I would want any of these stable coins. Having a balance of funds inside store is bad enough already. But then a stable coin with questionable redeeming process...

I just want cheap payment processing and banking with real fiat currency, with full backing of legal system.

clscott•3h ago

It’s just another way to rip off the small guy who thinks they are getting a deal but the company has all the power.

Who doesn’t think the terms and conditions will include phrases like “in the company's sole discretion" and "reasonable opinion."

Check out Loblaw in Canada abusing their position in their reward program.

https://www.cbc.ca/news/gopublic/pc-optimum-loblaws-rewards-...