Waltoncoin Bridges Gap Between Blockchain and Real World through Internet of Things
Waltonchain (WTC) Basic Facts
Website : https://www.waltonchain.org/
Circulating Supply: 31,144,099 WTC
Total Supply: 70,000,000 WTC
Max Supply: 100,000,000 WTC
Best Exchange: Binance
Competitors: Vechain, OriginTrail, Wabi, Modum
Analysis by Jack Hagan
Overview and History
RFID is an acronym for Radio Frequency Identification. RFID is similar to barcoding in that data from a tag or label are captured by a device that stores the data in a database. However, RFID data can be read out of the line of sight. Waltonchain is a decentralized platform which implements the blockchain in the Internet of Things via RFID technology. This is accomplished through Waltonchain’s unique, patented RFID chips that can record information directly on the blockchain. This creates a truly transparent, trustable, traceable, and secure ecosystem for businesses looking to improve their own supply chains. In addition, Waltonchain acts as a smart contract platform that will host ICOs and decentralized applications in the future.
Waltonchain is an advocate for the Internet of Things (IoT). This refers to the ability to access the blockchain on various devices within the Internet of Things. The Internet of Things encompassess all products that have the ability to connect and exchange information. This vast pool of
The Waltonchain Foundation was established in 2017. The Foundation is committed to the development of the Waltonchain project, the promotion and implementation of RFID applications and the promotion of early development of decentralized applications. It is named after Charles Walton, the inventor of RFID technology.
Waltonchain’s team is comprised of experienced business professionals from China and Korea. The team members have particularly strong backgrounds in: supply chain, Internet of Things, and blockchain technology. They have work experience at established companies such as Samsung, Honeywell, Bloomberg, Google, and Microsoft.
The Advisory team of Waltonchain is stellar. It includes various entrepreneurs, professors, lawyers, and accountants from China and Korea.
You can read more about the team here: https://www.waltonchain.org/en/team/
Waltonchain’s greatest asset is its range of real world applications. The RFID chips gather a myriad of data that can be useful in supply chains as well as in implementation within smart devices to create an Internet of Things ecosystem.
According to the Waltonchain Whitepaper, "It is difficult for the Internet of things under the current central structure to accomplish real autonomous cooperation and effective transactions, because the relevant parties of such cooperation and transactions often belong to different stakeholders with complex and uncertain trust relationships. Therefore, the collaboration and transactions of the current Internet of Things devices can only be carried out under the same trust domain. That is to say, the devices to collaborate and trade must be provided or verified by the same Internet of Things service provider, which significantly reduces the true commercial value of the Internet of Things applications."
Blockchain provides an answer to counterfeiting as well as removing data silos. Companies can store data on a side chain (known as a ‘child chain’), separate from the main chain. Companies can keep certain information private while deciding what information will be viewable on the mainchain. This allows for fast sharing of data between companies as well. Waltonchain’s technology would also allow customers to view where their products come from and view its transaction history.
Waltonchain has also gotten seven RFID related patents approved.
WTC has utility due to its usefulness within the Waltonchain ecosystem. Its utilities include: issuing sub chains, dividend interest, credit system, distributed asset exchange, and acting as a distributed voting and governance system.
Waltonchain is one of the most promising projects in all of cryptocurrency. The team has made great strides within the last year to partner with companies such as:
Waltonchain has governmental ties to China and has been chosen to contribute to massive scale projects such as smart oceans, smart cities, and IoT air purification systems. The Korean Ministry of Science recently approved The Walton Blockchain Institute. This Institute will offer blockchain education courses focusing on dapp and systems development.
Supply chain logistics is an area that I can see blockchain disrupting soon rather than later. Waltonchain has the technology and team to succeed in the space. Possessing several RFID patents and close cooperation with the Chinese and Korean governments is just icing on the cake. Considering the extremely experienced and well connected team and the promise of blockchain integrated RFID chips, I see a bright future for Waltonchain. If the team keeps delivering at this pace, Waltonchain can become an industry leader in the supply chain and Internet of Things sectors.
*Disclaimer: The review is personal opinion and analysis, not financial advice. The author, at time of writing, does not own any WTC.