Waltonchain (WTC) signs partnership with China Telecom Zhangzhou branch
Waltonchain affiliate Xiamen Citylink will be testing IoT by helping to turn Zhangzhou into a smart city.
Waltonchain (WTC) affiliate Xiamen Citylink Technology Co. has penned a partnership with the Zhangzhou branch of China Telecom, a listed company of the state owned China Telecommunications Corporation.
The agreement was inked into existence on 23 January 2018, with the goal of rolling out smart city tests around Zhangzhou.
"This partnership between Citylink and China Telecom Zhangzhou is the first step for domestic cooperation between Waltonchain and China Telecom. Waltonchain will put its maximum efforts to help China Telecom Zhangzhou build a smart city. We also believe that the full support from China Telecom Zhangzhou will promote the innovative construction of blockchain-based Value Internet of Things and the development of the innovative layout of commercial ecosystem applications by Waltonchain." says Waltonchain.
Just the beginning?
"Citylink... provides efficient IoT solutions for smart sanitation, smart city government, smart blocks, smart parks, IoT towns, smart cities and other fields," says Waltonchain. "This agreement between Citylink and China Telecom Zhangzhou is a start for a series of mutually beneficial cooperation projects in communication services, resource sharing, IoT ecosystem services, IoT industry applications and other areas."
Although the exact objectives and scope of the partnership have not been disclosed, it seems to be all about smart city development.
Price response
Waltonchain is one of (at least) three prominent blockchain-esque solutions currently jockeying for position on the ground level of the internet of things. Its main competitors include IOTA and IoT Chain (ITC).
Although the partnership deal was signed on 23 January, the news was only widely announced by Waltonchain on 29 January and it's not clear whether it's had any direct impact on the prices of any of the coins. But if it does, ITC might also be impacted. Waltonchain is a Korea/China joint venture, while IoT Chain is based in China (and IOTA is based in Germany).
There may have been an assumption that ITC would be picking up these kinds of China State partnerships instead, and it seems possible that Zhangzhou China Telecom also considered the benefits of partnering with ITC.
The decision to go with Waltonchain instead may have raised some eyebrows among speculators, and might suggest that right now WTC can do at least one thing ITC can't.
Overview: How does Waltonchain work?
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Picture: Waltonchain
