Waltonchain (WTC) the Business Ecosystem Integrating Blockchain with IoT
Waltonchain is a project established in November 2016 by a team headquartered in China.
They introduce a combination of RFID (Radio-Frequency IDentification) and blockchain to create value realization of Internet of Things (IoT) technology.
The RFID technology is used various applications from identification to motorway billing, mobile payment, credit card payment and is a perfect use case for blockchain application.
All of the information will be stored to the WaltonChain blockchain via the RFID.
Tokens and Usage:
Each RFID as a means for verifying a signature to the blockchain and can track the life span of the product in many ways that regular logistics cannot.
This can be applicable to any products with the tags. For example when the store scans your product, the signature can verify how the product was produced, inspected, shipped, and maintained. This means that for example you could go through the gate in the supermarket and money would be taken automatically.
The coin will be used to issue side-chains, as universal currency within the system, used in distributed asset exchange and for Distributed voting and governance system.
Waltonchain Mainnet was launched on March 31st. They have released Windows wallet and one of the features incluses CPU+ GPU mining which is already operational. Guardian masternode holders get bonus coins.
The specific time of token swap from ERC20 to Waltonchain tokens will be released at a later date. There will probably have a timeframe when the tokens must be swapped.
On March 27th the team held the AMA when they replied plenty of question about the project.
The team also annouced that the Guardian Masternodes will recieve a significant drop of 700 WTC.
The roadmap does not have specific timeframes stated and all of the milestones are divided yearly.
The future biggest developments (2018) include:
The android and iOS wallets
Store pilot project completed
first child chain prototype release
RFID tag supply chain system completion
Warehouse management system completion
In 2019 the RFID tag mass production will start and the project will enter another phase.
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