First Blockchain and RFID solution in South Korean Fashion District

waltonchain on the rise

Waltonchain is a very effective combination of Blockchain and technology. The best thing about Walonchain is that they manufacture their own hardware like RFID sensors etc, in-house. This cut their cost up to 30% that is the competitive edge for them.

This financial and technical benefit is helping Waltonchain to survive in the prevailing bear market. The announcement about the partnership between shopping district in Korea and Waltonchain rings the bells about the milestones they are reaching.

The chairman of Dongdaemun Fashion Town, CEO of Waltonchain and CEO of DDM International agreed upon applying blockchain technology and using Waltonchain RFID chip in Dondaemun Fashion Town on September 5, 2018.

The idea is to initiate the application of blockchain and RFID technology in different sectors of Dongdaemun. It is a very large and famous fashion district of South Korea. It covers up to 35000 wholesale and retail shops. It is the centre of attention of 9 million visitors per day and generates 50 million USD per day.

Hong Seokgi commented in a press release that Waltonchain`s Blockchain and RFID solution is the first usage of Blockchain Technology in the fashion industry of South Korea. This will result in the optimization of retail system of fashion town.

Dongdaemun will offer DDM chain with help of Waltonchain. This token could be used as child chain to WTC economic system. There will be demand and supply relationship between Child chain and WTC tokens. It will be beneficial for Waltonchain as South Korea is one of the leading countries in Cryptocurrency.

The new Whitepaper, released on September 4, largely highlighted IoT and Blockchain. It covers the applications of IoT challenges like poor compatibility, security, scalability and high cost faced by IoT. Blockchain provides a data centred link for all interconnected things. Whitepaper also revealed the details of how Waltonchain addresses different encounters in the IoT arena.

It uses smart contracts of Fabric and Ethereum Blockchains, which calls the child chain to launch according to the need. Chian clusters of Waltonchain that provide information and secondary value to network partners.

Waltonchain also discussed their project and about hardware products, in their whitepaper. Waltonchain will survive in this bear market by doing such partnerships. This will help save Altcoin.

Rommel Dumlao

Rommel Dumlao

Writer, editor, content provider Rommel is a freelance writer and editor for ten years. He has worked in numerous formats, including magazine articles, blogs, social media, and copywriting.

Related News

Hot Stories

Bitcoin price analysis: Consolidation tests bulls as BTC remains below $24k
Dogecoin price analysis: DOGE swiftly drops 10 percent, higher local low set?
Aave price analysis: AAVE/USD prices slip below $104.21 as market conditions turn bearish
Why learn blockchain, Defi, and crypto technology at a top university?
What is Replay Attack? Possible impacts on your Ethereum NFTs & precaution

Follow Us

Industry News

Why learn blockchain, Defi, and crypto technology at a top university?
Best Twitter thread of the day - August 17th
Top tweets of the day - August 17th
New York Court rules in favor of Celsius Network to sell mined Bitcoin. More sell pressure?
All you need to know about Dogechain, an L2 DeFi solution for DOGE users