It’s official. Waltcoin, via its Twitter handle, today announced that Waltcoin and China Mobile IoT Alliance have agreed to work together. Though the partnership is not finalized yet, both parties are drafting the details.
Rumors of this partnership started to spread when Lin Herui, Project Director at Waltcoin, recently visited China Mobile IoT Alliance, which is a fully-funded subsidiary of China Mobile Communications Corp., to negotiate the terms of the partnership.
This is a huge announcement as both parties are working on the integration of IoT on the present communication system.
After its formation in June 2017, China Mobile IoT Alliance has added more than 140 members, including big mobile and telecom names like China Mobile, China Unicom, China Telecom, ZTE, Huawei etc. This is a unique alliance which will be working on NarrowBand-IoT, an international technical standard for MIoT led by China.
China Mobile is currently the largest mobile telecom service provider in the world. It is working on the deployment of IoT on its network, and thus simplification of the supply chain is crucial.
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The role of Waltcoin will be very crucial in this, as the firm is specifically working on the development of NarrowBand-IoT featuring low power consumption, long transmission distance, and high stability. This Narrowband-IoT tech fits the exact requirement of China Mobile and could eventually end up in all connected mobile communication devices.
What is Waltcoin?
Founded in 2017, Waltonchain is a promising firm in the blockchain sector working with IoT. The firm is building a platform which combines blockchain with IoT (specifically RFID) to create an efficient supply chain management system for the constantly growing mobile networks.
The team behind Waltonchain is also very strong with members having decades of experience in supply chains. Waltonchain’s co-founder Do Sanghyuk was previously the Director of the Korean Standard Products Association, while the other co-founder, Xu Fangcheng, worked as the Supply Chain Management Director at Septwolves Group Ltd.
Waltonchain has entered into partnerships with many parties – most of which are with the Chinese provincial government. The team is working with the Fijian government as well as the Jinhu government to develop a smart maritime blockchain incubator and an air purification and monitoring system respectively.
Waltcoin on the exchange
Waltcoin (aka WTC) is performing very well on the exchanges. After its introduction in August ‘17, the token gained 2600 percent, as it went up from $1.09 initially to the current trading price of $27.03. The partnership news is also giving the coin a boost – it soared around 86 percent in the last week. The coin is currently holding a market cap of more than $673 million, according to coinmarketcap.com.
In December, with the rising cryptocurrency demand in the South Korean Market, Waltcoin was also listed on Coinnest to allow trading against KRW.