Waltonchain (WTC) Introduces Clothing Tracking System

Waltonchain is one of the lesser known Chinese projects working on the possibilities blockchain offers for verification and tracking of goods and services.

Waltonchain (WTC) unveiled on Thursday a new product - a system for tracking apparel and ensuring originality and smoother logistics.

Waltonchain works on solutions resembling the possibilities offered by better known VeChain (VEN), although VeChain is currently working towards building its mainnet, while Waltonchain is still an Ethereum-based project.

Trading in WTC has stalled after the extraordinary enthusiasm at the beginning of this year. The project is less popular than Chinese stars like NEO or QTUM. But at the current low levels, and with renewed appetite for relatively low-priced assets, WTC may rise again.

The price of WTC has lost ground in the past months, and trading volumes have been extremely low compared to the peaks in January, when WTC exceeded $45 and was one of the tokens that many predicted to reach three-digit dollar values. Even after the news of a robust real-world use case, WTC slid more than 8% on a daily basis to around $6.60 on Friday morning (UTC). The asset lost about half its value both in Bitcoin and dollar prices, from a relative peak of above $13 in mid-June.

At the moment, WTC prices are depressed due to the large share of pairings with BTC on Binance. Additional liquidity comes from Tethers (USDT), which make up 20% of trading, mostly on OKEx.

The approach of Waltonchain to using blockchain for the real world includes gathering radio-frequency identification (RFID) data. According to some experts, blockchains are not good enough data structures to store dynamically changing data. However, Waltonchain combines the already widespread RFID tagging technology with an immutable record of originality.

Meanwhile, WTC will have to regain its reputation, after a crash was triggered by a reportedly dishonest token reward taken by a team member. The Waltonchain project has been silent on the issue of the token swap and launching a new blockchain, but a statement from the team is expected soon. A new mainnet announcement may re-awaken this digital asset.