Retail giant, Walmart Inc., applied to patent the usage of the digital coin which will be pegged to a traditional fiat currency. This was meant to speed up transactions providing for cheaper and quicker transactions. Several loyalty features are planned with this feature. However, even if the patent is approved, it does not seem like Walmart would be launching a coin similar to Facebook’s proposed Libra.

Walmart has been ahead of many others in the process of adopting blockchain technology. They are already making use of blockchain to track products along their supply chain. Several other companies are planning to issue digital coins instead of loyalty points in a way to facilitate transactions which are cheaper and faster than existing payment systems.

Ripple’s business is built on the process where financial institutions are provided with infrastructure to facilitate currency trades and international payments. Ripple has been forever reinstating the importance of a clear cut policy for the banks to be able to make the best use of blockchain technology.

The centralization of Ripple’s system has led to several critics denying XRP to be a real cryptocurrency. Another reason being that Ripple has been maintaining control over a significant share of XRP tokens. There is a clear difference between XRP and other high cap digital asset types. Ripple will benefit from a coherent and uniform set of rules, facilitating regulatory certainty across all of its jurisdictions of operation, which govern the international transactions.

The FCA of UK has warned of significant dangers associated with the unregulated cryptocurrency market, including the Bitcoin. The Financial Conduct Authority (FCA) has to say that these cryptocurrencies do not have any core value. These tokens, according to the FCA, provides users with very less protection. The Authority further indicated that these unregulated tokens fall out of their own Authority.

Market integrity, fraud, manipulation, internal dealings, and volatility have increased major concerns about these tokens. The naïve nature of investors is, particularly of concern.

In a class-action suit, Chase Bank, in its argument recently stated that cryptocurrencies are a kind of electronic cash and therefore “billing cryptocurrency purchases of its clients as cash advances” being correct.

Katherine Failla, U.S. District Judge stated, cash is a government-issued currency according to arguments presented by the customers per the customers and that their argument is correct. Therefore, cryptocurrency is not cash in the eyes of the law.