Today, the IoT + Blockchain project Waltonchain (represented by Do Sang Hyuk) and the blockchain technology R&D company MEDIUM (represented by Kim Panjong) have signed an agreement to develop the Chinese market together.
According to the agreement, MEDIUM will help boost the development of Waltonchain’s platform, assist Waltonchain in the development of the Light-Weight Blockchain technology, participate in marketing and promotion in the Korean and Chinese markets, and collaborate on government innovation. The partners have also decided to build a private/permissioned blockchain network on Waltonchain’s platform harnessing MEDIUM’s technology and to develop the Korean marine logistics market together.
Using Waltonchain’s IoT + Blockchain platform, MEDIUM dev team will help in commercialization of Waltonchain’s core commercial blockchain technology applications and assist in the development of high-speed search and real-time processing for the platform.
As MEDIUM’s partner, Waltonchain will develop the Chinese market for the ultra-high-speed blockchain solution dubbed Medium Distributed Ledger (MDL) and promote it in Yancheng and Shenzhen (China). First, with the establishment of a China branch of Korea Blockchain Institute in Yancheng China-Korea Industrial Park, MEDIUM’s MDL platform and related technologies will be displayed at the Korean Blockchain Technology Publicity Exhibition Hall that will serve as a marketing base in China. Next, China’s Shenzhen Special Economic Zone is chosen a key strategic market where MEDIUM will leverage Waltonchain’s multiple promotion channels for marketing activities.
MEDIUM has already started to enter the Chinese market. In the agreement signed earlier with the Chinese blockchain company PeerSafe, MEDIUM stated its efforts in the promotion of the development of China’s trade and financial transaction platform and future assistance in establishment of a China-Korea trade and financial transaction platform.
As a joint China-Korea IoT + Blockchain platform operating in Shenzhen, Waltonchain boasts of various promotion channels in China. This agreement will help MEDIUM expand its Chinese market and will help Waltonchain boost the development of blockchain operations.
Waltonchain representative Do Sang Hyuk stated: “With MEDIUM’s advanced technology and Waltonchain’s marketing model integrating resources within Mainland China, we both will succeed in the Chinese market. I hope this cooperation can become an opportunity for more Korean blockchain companies to enter the Chinese market. Based on this Waltonchain will fasten the launch NFT + DeFi products, NFT product platform personal identification and other derivative ecosystem construction like Dex, Derivative ecosystem, Insurance pool etc., which will deepen the understanding and application of the IoT + blockchain business concept, realize connection and interaction with off-chain data.”