Walmart has hired a cryptocurrency expert in order to expand its virtual payment options, as more Fortune 500 companies embrace digital currencies.
According to Walmart's job posting, the position will be located in Bentonville Arkansas, and responsible for developing Walmart's "digital Currency Strategy and Product Roadmap" and identifying "crypto-related investment and Partnerships."
According to Indeed Hiring Lab's new report, the number of job postings on Indeed for cryptocurrency positions has increased 118% over last year. The report shows that hiring has moved beyond product development and engineering roles to support functions such as accounting and human resource management.
According to Bloomberg, Walmart is seeking a "visionary leader" who has at least 10 years of experience in product management or technology to help develop its blockchain strategy.
This crypto expansion by the retailer comes only weeks after Amazon advertised a similar position seeking a "digital currencies and blockchain product leader" to join their payments department.
CNBC spoke at the time with an Amazon spokesperson. She said that they were inspired by the innovations in cryptocurrency and are looking into what it could look like on Amazon. "We believe that the future will be built upon new technologies that allow modern, fast, and cheap payments and we hope to bring that future for Amazon customers as soon as possible."
Other Fortune 500 companies like JPMorgan Chase and Apple echo this sentiment, as well as PayPal and PayPal, who all hire for cryptocurrency roles. Starbucks, Whole Foods, and Home Depot allow customers to pay in cryptocurrency using apps that convert digital currency into U.S. Dollars.
Celebrities and investors from low-income groups, including women and those with low incomes, have taken to crypto to increase their wealth beyond the stock market. According to a recent survey conducted by NORC in Chicago, 13% of Americans have traded or bought crypto in the last year, as opposed to 24% who invested their money in stocks.
Legislators have started to debate reporting protocols and taxation on cryptocurrency, sensing its staying power. Jonathan Tamblyn (director of talent acquisition at cryptocurrency exchange Gemini), recently stated that the industry is at a tipping point. "Larger, more established companies recognize the validity and long-term viability of crypto.