Walmart will release the Walmart cryptocurrency Leafy (WAL)
At the end of September the leadership of the world’s largest network of wholesale and retail trade Walmart ordered product suppliers by September 2019 to connect to the blockchain network, developed by IBM. The new platform aims to simplify the process of tracking the supply chain of products. September 10, representatives of Walmart announced the launch of a new blockchain service WalmartLeafy.com.
According to the official statement, WalmartLeafy.com is a decentralized network for the management of financial assets. It can help to carry out international money transfers in the blockchain of Ethereum cryptocurrency. The system will start working in 2019.
As a means of payment on the platform WalmartLeafy.com you will use tokens Walmart Leafy (WAL) standard ERC20. In sum, the firm plans to produce 1 billion coins WAL, in October will start pre-sale of tokens, which will last until until sold 75% of digital assets (750 million). The remaining 250 million tokens will be distributed to retailers Walmart.
The company has already signed an agreement on the listing of tokens with crypto-currency exchanges Binance, Huobi, Poloniex and Bitfinex, trade pairs with WAL coins appear on the platforms after the public sale. In the opinion of management Walmart, the new payment system will reduce the cost of transactions and will perform the functions of the communication network for product manufacturers.