Waltonchain, the RFID-focused blockchain project headquartered in China, has recently announced that it is working with China Mobile to help develop a global network of Internet of Things devices. This further signals strong intent from China in becoming one of the world’s largest nation influencers in the cryptocurrency market.
Earlier this month, Waltonchain’s Project Director, Lin Herui, met with officials from China Mobile IoT Alliance to negotiate a partnership to innovate in IoT and develop smart city solutions. The latter is a subsidiary of China Mobile Communications Corporation, which is the world’s largest mobile phone operator and mobile telecommunications corporation by market capitalization.
In mid-2017, China Mobile, China Telecom, Huawei and over 140 research institutions and IoT giants came together to form the China Mobile IoT Alliance, aimed at accelerating China’s evolution into a country supported by smart cities and a modernized economy. This is the first alliance to be based on the Narrowband-IoT, a cellular communications standard designed specifically for the IoT. It aims to connect IoT devices through a low power wide area network with the intention of keeping costs low, battery life high and managing a sufficiently large number of devices. Waltonchain is the latest to join this collaboration, bringing blockchain technology to the table.
The Waltonchain team have been working on research into IoT and proposing ideas on how it might be brought into the larger economy. The team also works actively to promote and expand their project with institutions and exchanges in South Korea. Last November, they partnered with major South Korean exchange CoinLink. Waltonchain was officially listed on the exchange and CoinLink offered assistance in promoting the coin in the South Korean market. This followed its listing in the United States and Europe. The team has also emphasized the need to break into western markets.
Their outreach attempts are varied and indicative of authentic attempts to make IoT secure and efficient. The Taiwan Cloud Association, which exists to better and increase adoption of cloud computing services, announced a strategic cooperation agreement with Waltonchain early last year. Both parties stated their intent to play off of each other’s strengths.
As evidence of the project’s goal to disrupt the supply chain industry, they also signed a cooperation agreement with Guangdong original clothing copyright trading center. The latter supports independent fashion brands, including support in different levels of the supply chain.
Waltonchain is named after Charlie Walton, the man behind the invention of the Radio Frequency ID (RFID). This technology has found its way into credit card payments, clothing tags and even highway toll payments. Waltonchain is merging RFID technology with blockchain to overhaul the supply chain system. Some benefits of this network include the possibility of tracing transactions back to the source, as well as well as being useful for anti-counterfeiting measures.
For a closer examination of Walton and its place in the future of a cryptocurrency-dominant world, read our take on Waltonchain.
Waltonchain is Taking Bigger Steps
Waltonchain has been gaining steam in 2017 with numerous partnerships, but this latest announcement is the most signficant. China Mobile is a monumental figure in the nation’s economy, with nearly 1 billion subscribers, and this partnership will help to increase Waltonchain’s brand awareness.
With the support of some the IoT industries biggest names in the form of the China Mobile IoT Alliance, they are in prime position to make an long-lasting tangible impact on the future economy.