Waltonchain is a joint Chinese/Korean project that aims to combine blockchain technology and radio-frequency identification (RFID) to track items and improve supply chain management.
The token used for circulation and payment within the Walton ecosystem is the Walton Coin (WTC), which can be used to issue subchains, provide dividend interest and act as a credit and mortgage system.
Keep reading to find out what Waltonchain is, how it works, and how you can buy WTC in Australia.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
From your CoinSpot Dashboard, click on the “Deposit AUD” button to make an online payment via POLi Payments or BPay. At this stage of the process, you’ll also need to provide further details to verify your account, including your email address, phone number, full name, address and proof of ID.
Step 3. Buy WTC
Once verified, click on the “Buy/Sell” link from the menu at the top of the page and then search for “WTC”. Review the current price of WTC and click on the “Buy WTC” link.
You have the option to either specify how much WTC you want to buy, or how much AUD you want to spend. Click “Buy” and you’ll be able to see the amount of WTC you’re about to purchase, at what price and the fee that applies to the transaction. Click “Confirm Buy” if you’re happy to proceed with the purchase.
NB: Please note that most cryptocurrency exchanges do not allow you to exchange fiat currency (ie your AUD) for WTC. Instead, you’ll have to purchase a major cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH) and then exchange those coins for WTC.
Launched by Chinese and Korean developers in 2016, Waltonchain is named after Charlie Walton, the inventor of RFID technology. Waltonchain aims to combine RFID with blockchain technology to streamline supply chain management.
What is RFID technology?
Radio-frequency identification uses electromagnetic fields to attach digital identities to physical objects. This information is stored on small chips attached to those objects.
RFID is already in widespread use throughout everyday life, including in the e-Tag in your car and in the microchip used to identify your lost dog.
By attaching small RFID tags with unique IDs to objects, those objects can easily be identified with information logged on the blockchain. This should then allow companies to track their products on the blockchain, with the end goal being to cheaply improve supply chain management and stop the production and sale of counterfeit goods.
Real world applications for Walton
Walton’s developers hope their technology will be able to streamline the entire supply chain process, from manufacture right through to the retail experience. Potential applications for Waltonchain in the real world include:
Keeping track of business inventory as it enters and leaves warehouses
Monitoring the transportation of products
Eliminating counterfeit products
Keeping track of stock in store
Tracking purchase preferences of buyers
The technology could potentially offer benefits across a number of industries, including:
Fashion and clothing
Logistics and shipping
What to consider when buying Walton
There are a myriad of factors you should consider when buying WTC, including:
Availability. There are a total of 100 million WTC tokens in existence – this number is a constant and no more coins will be issued.
Use. Tokens are used for circulation and payment in the Waltonchain ecosystem. WTC’s main uses include issuing sub-chains, paying dividend interest, providing a credit and mortgage system and distributed asset exchange.
Waltonchain’s growth potential. As the Walton ecosystem grows, the company hopes that an increasing number of businesses will join the ecosystem and need to expend WTC to create sub chains. This should then lead to an increase in the value of WTC.
Competition. You’ll need to consider other companies that could compete for market share with Walton. For example, VeChain also provides unique product identification through the blockchain to streamline supply chain processes.
Commercial partnerships. The commercial partnerships a company establishes can help it access new markets and expert knowledge. Waltonchain announced a partnership with Korean exchange platform Coinnest in January 2018, and also has agreements with China Mobile IoT Alliance, Coinlink, Haier and a wide range of other businesses.
At the time of writing, the Waltonchain Wallet was in the beta testing phase, having been launched in December 2017.
The total supply is 100 million coins, with around 25 million coins in circulation at the time of writing.
Yes. Once the Genesis block of Walton’s main net has been mined, the ERC20 WTC token will be replaced by the Walton Coin. This is scheduled to occur in the first quarter of 2018, and the new coin will replace the existing token at an exchange rate of 1:1.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Tim Falk is a writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.