FOR IMMEDIATE RELEASE
October 9th, 2018
Walmart Enters Blockchain Ecosystem with Walmart Leaf (WAL)
One billion tokens readily available for purchase.
ARKANSAS– Walmart Inc. is pleased to announce the development of a new blockchain service WalmartLeaf.com, the decentralized financial asset management network, to realize the world’s most reliable retail money transfer system and the ability to finalize transactions in less than 2 seconds. Suppliers will transition ecommerce payments from cash to digital on the Ethereum network in the form of ERC20 Tokens. By combining WalmartLabs payments business expertise with advanced blockchain technology implemented on the WalmartProjects platform, the aim is to offer a new retail payment network service from fiscal year 2019 compatible with IoT and other new technologies.
Blockchain has been attracting attention in the past few years due to its potential to strengthen protection against falsification of transactions and drastically lower costs. Many financial institutions around the world have partnered with IT firms to test various proof of concept designs. In this environment, Walmart Inc. has engaged in numerous collaborative research projects with VISA, focusing on VISA’s high-speed network and distributed computing technology.
Presale of the Walmart Leaf Tokens (WAL) will begin October 2018 will last until 75% (750,000,000 WAL) are distributed and 25% (250,000,000) is retained for sale to Walmart retailers. In total 1,000,000,000 WAL tokens are assigned. Purchasers from the presale will receive an email to claim their tokens within a few days.
Walmart Leaf has partnered with several top-tier cryptocurrency exchanges including Binance, Huobi, Poloniex, and Bitfinex. Once the distribution is complete, tokens will be available for trade using those platforms.
The new payment network will be a diverse payment service equipped with an interface that can be used as a communications network to track products, and including functions for the transfer and management of value through blockchain. This will allow for a significant reduction of transaction costs for all kinds of payment services and could support a large expansion in transaction numbers.
Walmart Inc., formerly Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, nearly 260 million customers and members visit our 11,593 stores under 63 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2016 revenue of $482.1 billion, Walmart employs approximately 2.4 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
Neteller to Launch a Crypto Exchange
The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?
Neteller and Cryptocurrency
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MobileGo’s currency, MGO, performed better than nearly every other token during the past 12 months. While most altcoins were plunging by more than 90%, MGO is only down about 50%. And, since September, the MGO token has exploded by more than 200%. These trading gains can be attributed to increasing adoption rates of the MGO token, most notably on the Xsolla platform.
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Questions Answered in the Report
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Market Sentiment, Trends, and Capitalisation: Study One
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