Following up the first interview with Waltonchain COO Monitor Chan one year ago, ChinaCryptoNews reached out again to have an in-depth conversation about the latest developments and future plans.
Due to this years market situation and the difficulties a lot of projects have been facing regarding financing, we were really looking forward to catching up with Waltonchain and discuss the blockchain development and enthusiasm in China.
Waltonchain aims to combine the Internet of Things with blockchain using RFID to create an ecosystem with authentic, traceable, fully-shared data and transparent information. Unlike other blockchain firms, Waltonchain produces its own hardware and has its own team of engineers that independently develops RFID tag chips and reader chips. They combine software and hardware in-house.
For its current China-Korea-Taiwan cooperation project, Waltonchain has established R&D bases in Shenzhen, Xiamen, Quanzhou, Nanjing and Seoul. Former Vice President of Samsung Prof. Kim Suk Ki and Chairman of Cloud Computing & IoT Association in Taiwan Prof. Zhu Yanping now assist Waltonchain as senior consultants for blockchain and the Internet of Things.
Monitor Chan expressed that his company has developed very fast since our last interview. Waltonchain has grown to a team of more than 200 nearly 80% of which are professional software and hardware developers from the original over 50 people a year ago. WTC has been listed on several international exchanges, such as Binance, Huobi, Bithumb, OKEx and Bitfinex, and listing on Bittrex and Coinbase is being scheduled as well.
The Ministry of Science and ICT of South Korean government gave Waltonchain Foundation the permission to establish their long-planned non-profit Blockchain Institute in Seoul. It offers regular full-time 6-month courses on blockchain and related areas to its students.
Also, in September this year, Waltonchain reached an agreement on blockchain technology implementation and RFID chip commercialization with Dongdaemun Fashion City in South Korea. They will cooperate in retail, logistics, store management and customer service.
Regarding their new white paper, COO Monitor Chan said:
“Compared to the White Paper 1.0, the 2.0 version has been simplified and made more understandable. It highlights the application of Chain Cluster in the ecosystem.
Chain Cluster is a combination of the parent chain and child chains where multi-chain communication, data integration and smart contracts with data customization are realized. It is a third-party big data search engine and credit platform ecosystem.”
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At the same time, Waltonchain is actively seeking and incubating high-quality blockchain projects around the world to cultivate more outstanding companies in the industry:
“This ecosystem and market are big. Healthy operation in the B2B ecosystem is more indicative of WTC value than the B2C incentive mechanism.”
In addition, B2B-wise, Waltonchain already has 3 child chains Freyrchain, FashionET and Moneynet, which are applied in collection authentication, luxury clothing identification and social network services.
Waltonchain Foundation invested 10 million WTC in Waltonchain Global Project Incubation Fund to incubate 50 high-quality global child chains and recruits 99 Super Master Nodes for that end. Incubation of high-quality child chain projects will promote tailored blockchain solutions in industries such as food & drug traceability, logistics, medical care, high-luxury clothing and finance to build a complete child chain ecosystem.
At present, Waltonchain has extended its overseas presence from South Korea to Singapore and Brazil; Russia, the EU and the US coming next.
Regarding plans for the future, Monitor Chan concluded:
“We consider more cooperation opportunities. Apart from Australia’s red wine and dairy companies, we are currently negotiating with a pharmaceutical company from New Zealand. Waltonchain is willing to provide them with feasible blockchain + IoT solutions. Our mission is to solve specific problems we face in daily life. Although the road is quite long and full of challenges, we move forward no matter what.”