Walmart, the largest physical retailer in the US, has hinted before about an interest in cryptocurrency and blockchain, but is now getting a little more serious. It has posted a job ad in search of an experienced cryptocurrency expert with the skills and know-how to develop and drive a digital currency strategy and product roadmap for the company. How it plans on integrating cryptocurrency and blockchain isn’t clear.
In the job listing, the retailer states that it is looking for “a visionary leader who has a history of leading and scaling businesses. You will have a proven track record of building innovative solutions to customer problems by leveraging new technologies and customer insights.” The individual needs to have at least ten years of experience in product and program management, as well as technology-based product commercialization. Expertise in cryptocurrencies and blockchain-related technologies, extensive knowledge of the cryptocurrency ecosystem and the ability to identify and explore new trends.
While Walmart didn’t specifically indicate what its goals are with the new position, it may have dropped a hint – intentionally or otherwise. It states in the job posting that its future digital currency strategy is going to be built on its existing “broad set of payment options for its customers.” Two years ago, Walmart filed a patent for a blockchain-based dollar-backed stablecoin in the US. That digital currency was going to function similarly to what Facebook presented with its Libra stablecoin, but neither of the projects made it far.
Walmart could be ready to try again, and could be ready to integrate cryptocurrency as a payment option. Earlier this year, it created Hazel, a FinTech venture arm, which could be gearing up to offer a wide range of financial services. These would likely be available through a potential super app, a single app that allows consumers to manage payments of virtually any kind through a single mobile app.
Walmart’s future Digital Currency and Crypto Product Lead have to be willing to relocate to Bentonville, Arkansas, where the company has its head office. In addition to implementing the overall cryptocurrency strategy for the multibillion-dollar company, the individual’s key tasks will include identifying customer needs and translating them into product requirements. The position is also responsible for forging partnerships with product, technology and design leaders and committing to a cryptocurrency product roadmap. Once in place, he or she will need to drive the project’s execution and identify cryptocurrency-related investment opportunities and partnerships.