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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

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 1y 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?
- Tadpole9181 1y ago
  They're thinking that they want their own currency that won't run a foul of the laws that prohibit that and company scrip. > Oh, our employees may make minimum wage, but they get (the speculative asset) Walmart Coin as a benefit that can be redeemed at any Walmart, equivalent to an extra 50% income! It's like stock options, but useful!!! Why, yes, we do still teach them how to apply for welfare programs! Since, of course, cryptocurrency is not a currency somehow.
Ekaros 1y 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.

clejack 1y 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?

Tadpole9181 1y ago
They're thinking that they want their own currency that won't run a foul of the laws that prohibit that and company scrip. > Oh, our employees may make minimum wage, but they get (the speculative asset) Walmart Coin as a benefit that can be redeemed at any Walmart, equivalent to an extra 50% income! It's like stock options, but useful!!! Why, yes, we do still teach them how to apply for welfare programs! Since, of course, cryptocurrency is not a currency somehow.

Ekaros 1y 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.