U.S. multinational retail major Walmart has introduced a decentralized financial asset management network called WalmartLeaf.com, which it claims to be the most reliable retail money transfer system across the globe that can finalize transactions in the blink of an eye – in under 2 seconds.
Walmart’s blockchain journey started recently, making headlines for employing blockchain to ensure its food safety. With the introduction of the money transfer system, Walmart is merging WalmartLabs payments business expertise with blockchain. It will be applied to the WalmartProjects platform in order to introduce the new retail payment network service from fiscal year 2019. It will compatible with IoT and other emerging advanced technologies. Now, suppliers can shift e-commerce payments from cash to digital on the Ethereum network in the form of ERC20 tokens.
With the use of blockchain technology, Walmart will be able to fortify its payments and financial transactions, thereby lowering the risk of fraudulent activities. The latest payment network will also help in slashing transaction charges for payment services of all kinds.
Walmart Leaf Tokens
The pioneer in the retail sector has reportedly announced a pre-sale of its Walmart Leaf Tokens [WAL], which is slated to commence this month. Of the total of 1 billion WAL tokens that have been allotted for the token distribution, 25% (250 million tokens) is reserved for sale to Walmart retailers. The pre-sale will be carried out for the remaining 75% (750 million WAL) tokens.
With the completion of the distribution, these tokens will be available for trading in top crypto exchanges, namely Binance, Huobi, Poloniex, and Bitfinex.
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