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Waltonchain is a joint Chinese/Korean project that aims to combine blockchain technology and radio-frequency identification (RFID) to track items and improve supply chain management.
The token used for circulation and payment within the Walton ecosystem is the Walton Coin (WTC), which can be used to issue subchains, provide dividend interest and act as a credit and mortgage system.
Keep reading to find out what Waltonchain is, how it works and how you can buy WTC in the US.
WTC is available on a number of popular cryptocurrency exchanges, including:
If you want to buy WTC in the US, here’s an example of how you can do it:
If you want to exchange your US dollars (USD) for WTC, you’ll need to use a local cryptocurrency exchange like Gemini. To sign up for an account, you can expect to provide your contact information and a scanned copy of your driver’s license.
From your Gemini dashboard, click on the “Transfer Funds” and then “Deposit Into Exchange” buttons to make an online payment via ACH bank transfer or wire transfer.
Once verified, click on the “Buy” link from the menu at the top of the page and then choose either BTC or ETH.
Once your deposited funds clear, you’ll be able to move your BTC or ETH out of Gemini in order to trade it for WTC. Check out the list of exchanges above where you can trade cryptocurrency for WTC.
Most cryptocurrency exchanges do not allow you to exchange fiat currency (like your USD) for WTC. Instead, you’ll have to purchase a major cryptocurrency such as bitcoin (BTC) or Ethereum (ETH) and then exchange those coins for WTC.
WTC is an ERC20 token on the Ethereum network, so it can be stored on any Ethereum-friendly wallet that supports these types of tokens. For example, you could hold WTC with:
Launched by Chinese and Korean developers in 2016, Waltonchain is named after Charlie Walton, the inventor of RFID technology. Waltonchain aims to combine RFID with blockchain technology to streamline supply chain management.
Radio-frequency identification uses electromagnetic fields to attach digital identities to physical objects. This information is stored on small chips attached to those objects.
RFID is already in widespread use throughout everyday life, including in the e-Tag in your car and in the microchip used to identify your lost dog.
By attaching small RFID tags with unique IDs to objects, those objects can easily be identified with information logged on the blockchain. This should then allow companies to track their products on the blockchain, with the end goal being to cheaply improve supply chain management and stop the production and sale of counterfeit goods.
Walton’s developers hope their technology will be able to streamline the entire supply chain process, from manufacturing right through to the retail experience. Potential applications for Waltonchain in the real world include:
The technology could potentially offer benefits across a number of industries, including:
There are a myriad of factors you should consider when buying WTC, including:
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