Time for another coin review.
Supply chain is a hot topic right now. Utilizing blockchain technology as a ‘central’ trusted record of global supply chain management is pretty f***n appealing, but it’s a lot to implement.
One project, Waltconchain aims to disrupt this niche.
Let’s dig in…
Waltonchain (ticker: WTC)
Wtf is Waltonchain?
Waltonchian aims to disrupt the supply chain management space by combining blockchain with IoT (Internet of Things…go read about it).
Supply chain management is the process by which companies track their goods and services. This includes raw materials and inventory as well as distribution of goods and products.
Waltonchain, named after Charlie Walton (the inventor of RFID technology) has patented some new RFID tech which it believes is better suited to IoT and blockchain applications. RFID stands for radio frequency identification and is typically associated with small tags that can transmit information to a reader. In the case of the Walkchain RFID tags, they will transmit data about a business’ supply chain to the Waltonchain blockchain.
So the location, quality, and other metrics of these real products can now be recorded on the blockchain. For example, a shoe company can track when their shoes were delivered to a retail outlet and the rate at which different shoes are being purchased as well as the status of raw leather or cotton that is coming into their manufacturing facility.
Waltonchain takes advantage of a sidechain infrastructure for improved scalability. Each company that wishes to onboard their supply chain management process to Waltonchain can create their own sidechain with their own consensus.
WTC is Waltconchain’s native currency and is has a few different applications:
- Paying dividend interest to stakers
- Distributed voting and governance
- Fees for transactions
- Fees for creating sidechains
There are 100 million WTC that can exist, with 70 million in circulation currently. The rest will be mined.
Waltconchain offers PoW, PoS, and ‘PoST’. PoST is proof of stake and trust. For example, to have a masternode on Waltconchain required 5k coins, and certain staking nodes also have trust reputations which can result in the staking of more coins, as a highly trusted node.
Who tf is behind this shit?
Their two head honchos are Do Sanghyuk and Xu Fangcheng. Xu Fangcheng in particular was the former Director of Supply Chain Management at Septwolves Group Ltd…a tobacco and clothing company. We highly recommend checking their team out, they are actually transparent and seem very experienced.
Read here: https://www.waltonchain.org/en/team/
Also note this shit…they had some negative publicity being accused of fixing a giveaway: https://mashable.com/2018/02/28/waltonchain-twitter-scam-wtc/#9Ok1fHDP.qqV
Anyways, mid-tier shitcoin, supply chain management is a b***h to disrupt, but is in dire need. Many partnerships are required, so let’s see how they hustle.
Hope you learned some shit.
– Mike and Aaron