What is Waltonchain?
Waltonchain is another platform that tends to combine the powers of the Internet of Things (IoT) and blockchain technology.
Although IoT has been around for years, its progress has been drastically reduced by manual verification that is equally slow and archaic, as well as other challenges.
The decentralized platform hopes to eradicate these challenges and get the best out of IoT. It hopes to achieve this via its Radio-Frequency Identification (RFID).
The RFID uses the principle of the electromagnetic field for operation. It identifies tags and tracks them automatically if such tags contain pieces of information that are attached to objects.
The team has succeeded in patenting some unique RFID chips empowered with the ability to read data from a blockchain as well as write data into the blockchain. This innovation makes a genuine business ecosystem that supports information transparency and data sharing possible. The goal is to create a management system that will support supply chains across different industries in the world.
The supply chain system has its own share of challenges that are addressed by Waltonchain. Some of these challenges are:
- Time-consuming goods transportation: Supply chains are always faced with the onerous tasks of moving goods and materials from one place to another. This may be from the manufacturer to warehouses, plants, or retail stores.
- Strenuous transaction process: Consumers always have to go through transaction processes that may be time-consuming and stressful as well.
- Theft: Theft is another common problem that supply chains have to contend with. Goods and materials may be lost to theft while in transit and on other occasions.
Waltconchain solves most of these issues effortlessly. It allows consumers to have access to goods without going through the energy-sapping transaction process. This will automatically increase the ease of making purchases.
The supply chain management system will also reduce the challenges of transporting goods and materials and thus save supply chains the amount of money and time they usually spend on such transportation.
With Waltconchain tag, theft of goods and materials will be reduced to the barest minimum. This will be a cost-effective solution to one of the biggest challenges slowing down supply chains.
Waltonchain is founded by Xu Fangcheng and Do Sanghyuk. They are ably supported by personalities like Kim Sukki and Zhu Yanping whose experience in the Blockchain technology industry is legendary.
Xu Fangcheng was once the Director for Supply Chain Management of Septwolves Group Ltd and majors in Business Management. His experience in purchasing process management and supply chain management is second to none.
Do Sanghuyk has once served as Director of the South Korea Electronic News Media Bureau, Chairman of Korea NC Technology CO., and is currently the Vice Chairman of the China-Korea Cultural Exchange Development Committee.
A comprehensive list of the team members is available on their website. Check the list here.
As of 12/24/2018, the price of Waltonchain (WTC) is somewhere around $1.36 USD (6.89%) with a market capitalization of $54,818,614 USD and a daily volume of $5,187,779 USD. The ATH price of WTC was $42.46 USD on 1/27/2018.
- Circulating supply: 40,369,759 WTC
- Total Supply: 70,000,000 WTC
- Maximum Supply: 100,000,000 WTC
- Token Sale: 2017-08-27
- Ticker: WTC
- ICO price: 1 WTC = $1.17 USD
- ICO Raised: $10,000,000 USD
- Token Type: ERC-20
- Twitter: 54,800 followers.
- Telegram: 8,283 members.
Some useful news and updates about the project can be found on the company’s blog. Some of these updates and news are:
- Announcement of New Waltonchain Super Master Nodes
- Announcement on Waltonchain Token Swap Phase 2
- Announcement on Master Node Status Verification on the Mainnet
For more news and updates check Here.
- OriginTrail: This digital coin promises to offer supply chain management and integrity. It is designed to ensure that transparency is a must during transactions as well as offer users the opportunity to have access to efficient operations in a supply chain.
- VeChain: This project wants to leverage the blockchain technology to build a distributed business ecosystem that is both scalable and self-circulating. This removes some of the aforementioned challenges of supply chains.
Waltconchain is a promising project. When it reaches its full potentials, supply chains across the world will benefit immensely from its features. It will assist such chains to reduce their cost of production and enable them to make goods available to consumers promptly.
Consumers will also benefit from it through the faster and easier transaction process.
However, it must work on its exposure. The team behind this project must up their games and create more awareness for the project. That will increase its appeal and patronage considerably.
By Jamal Molla