WaltonChain (WTC) Voted #1 At SE Asia Blockchain Summit... but who cares?
To be fair, I knew next to nothing about WTC before writing this article. After doing some googling and spending a fair amount of time on their subreddit, it's starting to look like quite the solid investment. Not only do they have some solid partnerships, but they seem to be on a mission to educate potential users/investors on their platform.
Just came across this article that talks about how WTC won the Outstanding Blockchain Company award.
Upon closer examination, I had to do some digging to find out more about this summit. Wasn't able to find anything but that doesn't mean it doesn't exist.
WTC has been in the news lately because their token nearly doubled in value a few weeks ago after the announcement of a partnership with China Mobile IoT, which is the largest mobile carrier in China. They are a publicly traded company currently valued at over $101.9b.
Understandably, the perceived value of this coin rose sharply because of this partnership. Imagine if one of the US-based coins partnered with Verizon or AT&T - the gains would be just as crazy.
WTC has been called the "Chinese IOTA" because it focuses on the same use case - integrating blockchain technology with the Internet Of Things. Their initial use case seemed to be to integrate RFID tags into clothing to help suppliers/manufacturers manage supply lines.
The coin is named after Charles Walton, an inventor who is credited with inventing the RFID device.
Without getting into the technical explanation of why this is a good idea and why it needs a blockchain, I'll just paste this from their All-In-One thread in their subreddit:
You could also imagine on the customer end that wanting to know where all their goods come from is important. This is in line with counterfeiting, but also with things more benign. Imagine wanting to return an item to a store, but can't remember which grocery store it was from. Lots of simple improvements like that are all use cases for blockchain.
So apparently it involves tracking items. I've never worked in a supply chain so I can't comment, but I do know about other companies like Devery that are also well-received, so I guess there must be something to this.
At the end of the day, even though some simple Googling didn't reveal to me the source of WTC winning the award (aside from a tweet from their official Twitter account), further investigation into WTC's platform (especially the glut of information on their subreddit and their partnership with China Mobile), lead me to believe that this is a solid coin to buy and hold.
Good luck!
I've been a fan of WTC since late last year. They don't have much hype around them and not many realize what they are doing, but I see a lot of potential in their project and support it fully. I can't wait to see what progress looks like a year or so from now!