Waltonchain, a company that combines RFID and blockchain, was yesterday listed as a member on the Korea IoT Alliance website. With around 50 IoT related companies as existing members, this move is likely to add further to Walton’s already extensive list of partners.
The new addition was picked up on the r/Cryptocurrency subreddit yesterday. Interestingly, Waltonchain themselves are yet to break the news of this development.
Waltonchain is a blockchain project that combines IoT, more specifically RFID, with blockchain. Investors in the project have been enthusiastic since Waltonchain won the 2018 Outstanding Blockchain Company Award in January this year.
They have a growing list of partners with companies and government entities across China and Korea, and this new membership with KIoT could mean many more strategic partnerships to come.
Waltonchain’s primary use case is supply chains, and the team, comprising of staff from China and Korea, explain the project as:
a genuine, trustworthy and traceable business ecosystem with complete data sharing and absolute information transparency. It is created through a combination of the RFID and blockchain.
KIoT, founded in 2010 under the name RFID Association of Korea, has roughly 130 registered member companies. Noteworthy members include SK Telecom, LG U+, Samsung Electronics, Cisco, and IBM. Many of these members have annual revenue figures in the billions of dollars.
With the possibility of more partnerships under its belt and an aggressive roadmap, much could be in store for Waltonchain this year.