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If we were to look back at inventory management before the age of computing, it would consist of a large warehouse along with a guy who physically marked a piece of paper, documenting all inventory that went in and out of the building. These documents would then have to be taken to the accounting department where a ledger would have been updated, supplying the company with its inventory figures.

Things have changed for the better over the last 50 years, today we use barcodes and QR codes, so when products are shipped in or removed from a warehouse, someone just has to scan the box, and the computer inventory database gets automatically updated.

The barcode system is a significant improvement compared to the clipboard method, but it’s still open to several issues ranging from human error to manipulation.

For example, items can get misplaced in a warehouse. Even though it’s supposed to be there, no one can find it. Perhaps the item was even stolen. Or what if a trusted employee goes into the computer database and starts manually changing the quantity on hand. Databases can easily be hacked internally or from the outside.

Introducing Waltonchain, next revolution in inventory and supply chain management.

The Waltonchain project combines RFID technology with the blockchain to create a supply chain management system that’s on a public ledger.

If you’re not familiar with RFID technology, it’s a tracking system that uses electromagnetic fields to identify and track objects automatically. The tags are tiny, attaches to each box, and contain electronically-stored information. Passive tags collect energy from a nearby RFID reader's interrogating radio waves, so everyone knows where every package is at all times.

With the current inventory tracking system, hackers could gain access to the database and start changing numbers. Even with robust anti-hacking software or a backup system, fixing the hacked database is tough work if the hack was even caught to begin with.

Using Waltonchain, a company could very quickly and easily check any discrepancy in the numbers to see where the error originated.

The tag on every package that will cost less than $0.05 and weigh less than 1/100 of a gram and allow the tracking of any object. When combined with RFID technology this process becomes highly accurate and greatly simplified.

For example, let’s say you’re operating a warehouse and you’re expecting a 1000 boxes of speakers, currently someone has to stand there and manually scan 1000 barcodes, far superior to old day accounting, but this is still time-consuming and susceptible to human error.

With the Waltonchain RFID technology, every box will already be equipped with built-in tracking, so as soon as the truck enters the warehouse, all 1000 boxes are accounted for automatically. When a package leaves, the computer systems will also automatically update, no human scanning necessary.

And this is just one aspect of the supply chain management system, Waltonchain can address the whole process. From running analytics for efficiency, meaning ensuring boxes are not moving around the warehouse too much, to tracking the complete supply chain, even before the package arrives.

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Website

The Waltonchain website is not the best website out there, but the information on it is useful. It’s fortunate to see a whitepaper now in English, as just a few months ago, they only offered a Chinese version. However, the whitepaper mainly focuses on RFID technology. I wish there were more in-depth details about the project. The site is regularly updated with current project news.

Roadmap

The roadmap is laid out on the home page, and I love the fact that it goes all the way out to 2020. They don’t explicitly list the quarters where task will be completed, but from the layout, a reasonably accurate estimate can be made. I would have also liked to see an updated roadmap, so once tasks are completed, they get marked with a “done.”

Team Members

Here things get a little dicey. This project is over in China, and I simply don’t have the luxury of validating the team on Linkedin. I have been reading articles, watching interpreted videos, and doing my best to verify the team, but there’s only so much that can be done when everything is in Mandarin. If the team is who they say they are, it appears to be an excellent and capable team. Also, everything I’ve seen on Reddit seems to support the team. Another good thing about this project is that it’s been around for a couple of years, if the team were fake, it certainly would have been exposed by now.

Barriers to Success

There is no doubt that the blockchain and the RFID technology is a perfect fit for supply chain management. It’s not a matter of if, it’s a matter of who and when.

With that said other players also exist, VeChain is very similar, and even though it currently has a much higher market cap, it’s technology does not seem to stack up to Waltonchain.

However, what I am most concerned about, is another company attacking this space with their own private blockchain. It would not surprise me if Amazon, Microsoft or IBM were already working on a very similar solution to the supply chain management issues that would suddenly pop up one day. It does not mean there’s not room for multiple players, but having one of these other large companies in the space would not be a negative.

Strengths

I like what Waltonchain is doing; they have a patented RFID chip and true decentralization on the blockchain. They have been working on this project since 2016 and have made real progress, thus far giving them a nice head start on the competition.

They also have the luxury of being named after Charlie Walton, who was the inventor of the RFID technology and the well-known pioneer in the space.

I think the value a project like this will add to business is substantial and easy to see. A list of benefits includes:

  • Improved security through blockchain technology
  • Accurate tracking of a product back to its origin
  • Anti-counterfeiting through RFID identification
  • Decentralization without the need for trust
  • Reduced labor costs

Conclusion

RFID combined with the blockchain makes perfect sense, and Waltonchain is here to make it happen. This technology is moving forward one way or another, which is why Waltonchain is a safe investment, and with a market cap well under $500 million, this project has a lot of room to run. If Waltonchain does emerge as the leader, profits in this project will be substantial. If, however they come out as one of the minor players in the space, the project will still likely increase in value, just on a smaller scale. There are not that many scenarios where an investment will tank, making Waltonchain a desirable investment at this time.

Investment

For smaller accounts, we recommend an investment of $200 to $300 and for larger accounts $600 to $1000.

Storage

Because Waltonchain is an ERC20 token, it can be stored on the Ledger Nano S with MyEtherWallet. However, once you log onto MyEtherWallet, you will find the token is not listed. To add it follow the directions listed here:

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Address is: 0xb7cb1c96db6b22b0d3d9536e0108d062bd488f74
Name: WTC
Decimals: 18


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