Walton chain is another Blockchain project, which is focused on the industry. The Team behind Walton chain intends to track goods using RFID (Radio Frequency Identification) Chips, and the data collected in the Walton Blockchain. The Walton Coin (WTC) is used within this network as a means of payment.
The Walton chain has obtained its name from the inventor of RFID, Charlie Walton. Walton dedicated his whole life to the RFID technology, and died on the 30. November 2011.
Exactly five years after the project Walton chain in honor of Charlie Walton was launched and named after him.
RFID Chips are widely used in today’s society. In contrast to QR Codes, you do not need to be read from the immediate vicinity, but it is an indirect proximity up to 10 meters (“Long Range enough”) to read the data on the RFID Chip.
They will provide, inter alia, in the field of logistics, for identification in the German ID card, for payment at toll booths, credit cards or Tickets for concerts and sporting events.
In addition, RFID-Chips play an important role in the context of the Internet of things (Internet of Things). There, you will be required to connect the goods with the Internet.
Objectives and use of the Walton chain areas
However, you will need (at least officially) a share, so that the RFID Chip can communicate with the Internet.
Here is the issue of confidentiality of the data plays an important role. This confidentiality is not verifiable or is not sufficiently guaranteed.
This problem would eliminate the Walton chain project, by combining the confidentiality of the Blockchain technology with the technology of the RFID Chips.
This combination, particularly in the area of Supply Chain management.
The value and supply chain (“Supply Chain”) from raw material suppliers to the end customer should be fully decentralized and transparent.
All the information about the product to be both entrepreneurs and consumers to see.
A Manipulation of the data is not possible because all Changes in the public Blockchain to be decentrally stored.
The project can so far, have mainly partners from the Asian region:
The Walton Coin (WTC)
The Walton Coin is used for payment within the Walton chain network. With the Genesis Block of 100 million Coins have been generated.
This number is fixed and will not change (“Max Supply”). Currently, there are 70 million tokens (“Total Supply”), of which approximately 25 million are in circulation.
The other 45 million are not yet released and will be issued at a later date. The other 30 million have to be generated by Mining.
The road map from Walton chain
The Walton chain project is divided according to the official website in four phases.
In this first Phase, the Team will develop a RFID-Beacon-Chip based on a conventional RFID Chip and, in addition, an asymmetric cryptographic algorithm integrated in order to allow the confidential combination of RFID and Blockchain. The application scenarios in Phase 1.0 will be confined to Tests.
In Phase 2.0 of the RFID Beacon Chip will go into mass production and can be used in the apparel industry, the retail trade and the logistics industry. In the Walton chain, the first data (including logistics information, Store, price,, order, packaging, shipping and customer data) from the raw material supplier to the end customer as confidential and stored in an unchangeable.
In Phase 3.0, it will be manufacturers, the entire Supply Chain process to trace. The whole of the data, the Chain incurred in the context of the entire Supply, are written in the Blockchain.
In the last Phase of improvements to the Hardware and the Blockchain-once again the data structure. In order then any goods can be in the Walton chain registered.
The information is also explained in the official introductory Video of Walton chain:
The Walton chain (WTC) course
In January 2018 Walton chain was included in the “China Mobile Internet of Things Alliance”, in which, inter alia, well-known companies such as China Mobile, China Telecom, ZTE, Huawei, and over 140 more of the world’s leading IoT companies.
Since that time, the Walton chain price knows only one direction, upwards. Here, the WTC was able to defy the bear market in January and reached on 27. January 2018 all-time high of 33,82 Euro per WTC. The Walton course is for the editors time 21,97€ and a market capital capitalization of EUR 547 million.
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