To create a business ecosystemintegrating blockchain with IoT.
Wisdom alters label, trade, organization and network
|1||Any child chain creation needs to expend Walton Coins (WTC). As the Walton ecosystem continues to grow, an increasing number of businesses will be joining the ecosystem, as a result of which they will expend a growing amount of WTC to create all kinds of child chains. Thus, the demands for WTC will rise correspondingly.|
|2||WTC is the only token of the parent chain in the entire business ecosystem. Any cross-child-chain data transmission and asset exchange will expend WTC. Once the ecosystem has been in place, the demands from the businesses for WTC will keep expanding.|
|3||The allocation mechanism of the transaction fees (such as A coins and B coins ) expended in the important officially-released child chains will be adjusted in an innovative manner, such as those in the transaction child chain or the sales child chain which will be used in the high-frequency circulation. Most of the transaction fees (say 90%) will be allocated to the wallets of child chain book-keeping nodes, while a small proportion (say 10%) will be exchanged to WTC and allocated to the wallets of parent chain book-keeping nodes.|
The realization of Value Internet of Things will create a brand new business ecosystem, based on organic integration of block chain and Internet of Things. This will extend the block chain technology from Internet to Internet of Things, which will in turn create a genuine, believable, traceable business model with totally shared data and transparent information, depending on the combination of RFID technology and Walton chain. Walton team has formulated a 4-phase development plan, starting from infrastructure platform establishment to gradually incorporating retail, logistics and product manufacturing, and to finally achieving the full coverage of business ecosystem.
As for the phase 1.0 of the project, the team has developed the clothing system integration scheme based on RFID. The system has been implemented in Tries, SMEN and Kaltendin. The condition of widely application and promotion has been met. The team starts to research and develop the RFID beacon chip with proprietary intellectual property rights. Such chip integrates asymmetric cryptographic algorithm based on the traditional RFID chip and is expected to achieve perfect combination of IoT and blockchain. According to the integrated solutions created by the team for the clothing industry based on RFID, it is expected to resolve a series of severe problems existing in storage, retail shops and after-sale service for the traditional clothing industry and complete the consolidation of Waltoncoin’s platform. The application scenarios at phase 1.0 will establish Golden demonstration template for further rapid expansion of Walton application.
At phase 2.0, our RFID beacon chip will be mass-produced and can be used in clothing, B2C retail and logistics. The whole business processes can be achieved for the logistics industry by matching multi-scenario block chain data structure, including full-path logistics information linking, store pickup, pricing, order placing, packing and storage, sorting and distribution, store management, dispatching, customer signature, customer assessment and feedback; taking advantages of non-modification and open traceability of personal identity verification and block chain records based on RFID, it is aimed at building safe and reliable point-to-point logistics information channel for the customers and providing business automation management information platform for the logistics company to avoid lost, delayed and wrong orders on a systematic basis. For further detail, please check Waltonchain whitepaper.
At phase 3.0, manufacturers will achieve traceable customization of intelligent packaging. The universal data structure used in describing the production cycle will be written in the blockchain; the customization data structure design will be conducted for different products by traceability; the authenticity and reliability can be guaranteed based on RFID identity verification; all processes will be covered, including material purchasing, production, assembly operation, packaging and inventory management; the material source and production quality can be verified and the quality problem source can be tracked; the possibility of counterfeits can be eliminated to fundamentally ensure the consumers’ interests. Moreover, the low-cost data information solutions can be provided to the manufacturers by means of the standardized and reliable business process information via blockchain so as to achieve intelligent management
At the project phase 4.0, with the upgrading and iteration of assets information collection hardware and improvement of block chain data structure, all assets can be registered in Waltonchain in the future. Problems in asset ownership, article traceability and transaction voucher can be resolved. At this time, Waltonchain and Walton Coin will be widely used in physical world and change the production mode and people’s lives in the world. The Walton-chain Project will bring to everyone a more convenient, intelligent and reliable world , as well as handsome returns for Waltonchain investors.