Waltonchain (WTC) is a project launched to combine blockchain technology with RFID (radio frequency identification) technology, in order to improve the management of supply chains by organizations. Waltonchain aims to integrate blockchain technology and IoT to create a decentralized connected ecosystem that Waltonchain calls the Internet of Things (VIoT).

Combined with the name Walton – the inventor of RFID technology and a blockchain server-less encryption security system, Waltonchain intends to introduce the physical assets of the supply chain into the blockchain. This is done by providing a complete and upstream data system of any asset through a decentralized network. The Waltonchain project was founded on November 30, 2016, and is headquartered in Xiamen City, China.

How does Waltonchain work?

Value Internet of Things (VIoT)

The main idea is to apply blockchain technology to IoT and connect devices to the internet through RFID technology. The implementation of VIoT creates a whole new business network, extending blockchain technology from the internet to IoT, thereby building an accurate, reliable, easy-to-follow ecosystem of data systems. shared widely and transparently. The Walton project includes the Waltonchain software system, the Walton protocol, and the Walton coin (WTC).

Waltonchain and sub-chains

Waltonchain is the name of the parent chain in the Walton ecosystem. This chain tracks WTC transactions, manages the sub-chain, executes smart contracts, and a few more.

Anyone using Waltonchain technology can create their own sub-chain and token. Alternatively, they can choose to have a different consensus algorithm than the parent chain.

Development team

Waltonchain owns a professional, powerful and diverse team such as engineering, business development, retail operations, etc.

Here are the first two project development figures:

Do Sanghyuk: Project initiator in Korea. Sanghyuk is currently the Chairman of the China-Korea Cultural Development Committee and the Director of the Korean Manufacturing Standards Association.

Xu Fangcheng: Project initiator in China. Fangcheng is a former Supply Chain Manager at Septowves Group. He currently holds the position of Director of Shenzhen Silicon and is currently Chairman of the Board of Silicon Guanzhou.

Advantages and disadvantages

Advantages:

• Experienced team
• Research/training platform affiliated with many famous universities in China and Korea
• Physical products help verify results
• Connecting industry, especially garment technology in China (thanks to previous operating experience)
• Good interoperability

Defect:

• Information about the project is incomplete and unclear
• Untested blockchain, still under development
• Website with typos (corrected)

Conclude

Waltonchain is a solid project with a team of more than 20 experienced members. The company already has a number of key partnerships with government organizations and private sector companies.

More than just a supply chain platform, Waltonchain provides businesses with the technology to create their own sub-chains and benefit from the Walton parent chain.

While not currently considered a formidable competitor, Waltonchain seems poised to make a breakthrough in the next few years with partnerships and an ambitious development roadmap.

You can see the WTC price here.

Hanh Bui

According to AZCoin News

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