Review on Waltonchain by Fanuel PORPORTY
Waltonchain - Leading humanity to a reliable digital life
Waltonchain (WTC) is a unique project that attempts to combine blockchain technology with that of the Internet of Things (IoT). Its main objective is to set up a system which makes it possible to manage the logistics of these connected objects thanks to the power of the blockchain.
To achieve its goal, Waltonchain will use a technology called RFID, for "Radio Frequency Identification".
A Waltonchain RFID chip will make it possible to follow a product during each phase from its production to its placing on the market. We will thus be able to follow all the stages from the creation of the product to its arrival on the shelves knowing with precision the places through which the product has passed, and on what dates. In order to guarantee the authenticity of this data, it will be stored on a decentralized blockchain, which will make it tamper-proof.
For the record, the project is called Waltonchain in tribute to the inventor of RFID chips who was named Charlie Walton.Functional technology.
Pros
- Functional technology.
- Patents established on their RFID chips and their devices for scanning these chips.
- Has a practical use in everyday life and can be of great help to improve the logistical monitoring of a business
- The team behind the project is experienced.
- Attractive financial incentives for people dealing with network nodes.
- Securing the IoT system via their Value Internet of Things (VIoT) system.
Cons
- Token holders do not, strictly speaking, have any share in society.
- The distribution of tokens is not optimal, 30% of them go to the team and the Waltonchain foundation. Even if some tokens are blocked for 2 years, this is still too large a part of the total amount.
