How Waltonchain Will Revolutionize Intercontinental Trade and Cooperation Via IoT Technology In the 21st Century Maritime Silk Road
The One Belt and One Road Initiative, or OBOR, is the largest transcontinental project in history. Proposed by the Chinese govt., OBOR is a trade and infrastructure network comprised of the land-based Economic Belt spanning all of Eurasia, and the 21st Century Maritime Silk Road, its complimentary initiative aimed at Southeast Asia, Europe, and North Africa.
The project covers 65% of the world’s population spanning 68 countries, three-quarters of all global energy resources, and 40% of the GDP as of 2017. OBOR already consists of $900 billion of planned investments, making it probably the largest investment drive ever by a single country.
In an effort to facilitate trade between China and the world, at a time when its economy is slowing, these trade routes are paramount to China’s vision of leading the future in industry and trade. To bring these trade and infrastructure networks into the 21st century, new technologies will be incorporated to manage the tracking and authenticity of goods across borders, develop ways of increasing efficiency in supply chain management, and even "build a unified coordination mechanism for whole-course transportation.” Such technologies as BeiDou Navigation satellite systems and mobile telecommunication networks will be employed to increase internet connectivity, which will also have the effect of driving more e-commerce sales along the Belt and Road. Smart Cities will be built to standardize and “integrate information and communications technology to improve city operations.” The most significant technology to disrupt these industries is blockchain.
The Fujian Province
China’s OBOR Initiative specifically states that Fujian is to become the “core area of the 21st Century Maritime Silk Road.” Its geographical importance is seen below, as a coastal province with a robust port infrastructure for foreign trade and the closest proximity to Taiwan for participation in the cross-strait economic development zones. It is also the major trading partner of Hong Kong.
Far from coincidence, Waltonchain is headquarted in Fujian, in the city of Xiamen. They recently received a contract for construction of a block chain / RFID lab for Fujian Province’s maritime industry. According to the article, they will assist in “wireless transmission network technologies such as video sensing, recognition, perception, location sensing, etc., to establish a full range of information awareness.”
Through the effective management of business platforms […] and data centers, a scientific operation evaluation system is established so that the government can analyze the business environment and economic development trends, analyze market demand, guide industrial cluster development, guide resource development and utilization, and corporate production. The rational allocation of resources will play a role in building a smart ocean with Fujian characteristics, improving the capacity of Fujian’s marine control and development, and the development of Fujian’s smart marine industry.
Compare these specific goals with those of OBOR:
We should explore a new mode of investment cooperation, working together to build all forms of industrial parks such as overseas economic and trade cooperation zones and cross-border economic cooperation zones, and promote industrial cluster development. We should promote ecological progress in conducting investment and trade, increase cooperation in conserving eco-environment, protecting biodiversity, and tackling climate change, and join hands to make the Silk Road an environment-friendly one.
Close ties with the Fujian government don’t end there. Waltonchain also won the Strait Plan competition hosted by Jinjiang City in Fujian. They were awarded 1.3 billion Won (USD $1.2 million) for their smart IoT sensors that can detect fine, minute movements. In addition, Jinjiang City will be mass-producing their product. The Strait Plan focuses on advanced wireless communications technology, AI, and Internet of Things infrastructure and applications between Mainland China and Taiwan, as explained during the Cross-Strait IoT Summit co-organized by Waltonchain themselves.
And if you thought that was too much to chew, the cooperation goes deeper. Waltonchain is working with Taiwan Cloud Service Association under contract by the Zhangzhou Municipal Government to create the first blockchain industrial park (ding ding ding) and incubator in Fujian province. They’ve also partnered with the Xiamen and Zhangzhou branches of China Telecom and are likely leveraging their mobile communication networks for IoT applications as they work together to build smart cities along the coast, a key strategy of OBOR to standardize smart technology in the region.
Waltonchain also partnered with China Leopard Logistics Park to develop another blockchain industrial park. The aim is to make the Leopard Logistics Park the largest industrial gathering place in Quanzhou, Fujian. Quanzhou is historically the starting point of China’s ancient maritime Silk Road, and has been known for working on OBOR projects. They’ll be updating the park for the 21st century by creating an “integrated Internet + logistics professional market for warehousing, transportation and distribution.”
All of these project collaborations are intimately woven, and it’s obvious that multiple levels of government and large institutions that work with them recognize Waltonchain as a leader in smart technologies.
But of course, it doesn’t end there…
Waltonchain Project Director, Lin Herui, was elected Vice President of the Fujian IoT Industry Association. So now, Waltonchain will have a large hand in calling the shots on the establishment of IoT associations and enterprises working on Cross-Strait IoT applications, as well as serving the optimization and upgrading of the IoT industry in Fujian. They will have direct influence to promote and build the IoT + blockchain ecosystem.
Bringing this back to OBOR, Waltonchain has gigantic involvement in the IoT infrastructure of Fujian as the core area of the Maritime Silk Road. Government involvement is high, and Waltonchain has been chosen by many to revolutionize the technology industry.
The Fujian Province is only the start to a diverse array of application scenarios that Waltonchain is developing for use in OBOR. It’s almost too overwhelming to put into words, but I will attempt to segment the following big areas where Waltonchain is involved.
Air Purification Project
Jiangsu is yet another critical area involved in OBOR. Referring back to the Core Areas Graphic above, you can see that Jiangsu is geographically important as another coastal province, among a few more that I will get to shortly.
Waltonchain has been contracted by another government, Jinhu, located in the Jiangsu Province to provide smart air purification solutions and air monitoring to the Jinhu Development zone. Waltonchain is a world leader in connected IoT devices and RFID research and developement, and their expertise in air purification goes all the way back to 2006, where their co-founder, Do Sanghyuk, won the VIP Asia 2006 Award for the air purifier ‘EOS-204’, at a time when he served as The CEO of Sunny Sun Air Co., Ltd.
Air pollution is a large problem in the densely packed cities of China, and Waltonchain has been selected yet again to fulfill another goal of OBOR, to protect the environment and collect air-quality data from smart cities to better combat climate change.
Refer back to the Core Areas Graphic once more, and you’ll notice Hainan highlighted as one of the critical areas involved in OBOR. The whitepaper states that OBOR should “further open Hainan Province as an international tourism island.” This makes sense, as Hainan is located on the peninsula, and is a great site for tourists. The silk road swings around this peninsula and could serve as an important juncture to store and transfer goods for e-commerce. For example, Alibaba and JD.com, two of the world’s e-commerce giants are expanding globally and setting their sights on OBOR. According to Xinhua, JD.com plans to set up “more than 20 overseas warehouses to store and transfer goods from over 100 countries and regions including those along the Belt and Road Initiative.”
So if we take a look at Waltonchain’s roadmap, you’ll see something interesting:
By the end of 2018, the “Hainan Warehouse Project” will be completed. Waltonchain has not commented on this endeavor, but it will be launching a Warehouse Management System preceding it, before the end of the year. Their whitepaper details their supply chain management system using scanners to read and write data to the blockchain at various checkpoints in a product’s life-cycle for full automation and immutable tracking of the supply chain. The read and write equipment development is scheduled to be completed just before the launch of the warehouse system as well. I am looking forward to more information on the Hainan project, but will likely have to wait til the end of year for more details.
Space-Based “Silk Road of Satellites”
The BeiDou Navigation satellite network is China’s competitor to GPS. It’s a network of 14 working satellites that will expand to 35 by the end of the decade, and they will be implemented first with countries along the OBOR routes by the end of 2018. An obvious application is transportation and the internet of vehicles. It can also be used for smart waste-management systems.
At the Global IoT Summit 2017, Waltonchain won the Outstanding Product Award for their Smart Waste Management System. Amongst the award winners were international giants such as Huawei, Ericsson, and China Telecom.
Through the integration of the Internet, Internet of Things, BeiDou location tracking technology (BDS), GIS, mobile communication networks and other information technologies, the traditional waste management system was upgraded to be increasingly automated and efficient.
Waltonchain’s Smart Waste Management system is tailored to be implemented through mobile communication networks and BeiDou Location Tracking technology. It’s worth noting that Waltonchain’s subsidiaries are partnered with two branches of China Telecom, as well as Huawei Cloud, which is known to have expanded their efforts to smart cities in OBOR.
The icing on the cake is that Lin Herui, Waltonchain’s Project Director, was invited to attend the Beidou IoT Global Launch Conference & IoT Innovation and Development Conference, where he shook hands with Beidou Navigation leader and Academy of Engineering Academician, Tan Shusen.
Tan Shusen stated that the addition of such advanced technologies as blockchain will play a great role in the development of the IoT industry.
Citylink, Waltonchain’s Smart City subsidiary, recently spoke to delegates of Yuxi City, Yunnan Province (refer to Core Areas Graphic), a critical area in the OBOR route, about their smart sanitation system. Citylink showcased their “Sanitation Smart Watch” which works with BeiDou technology, as well as their NB-IoT technology and various other smart waste devices. After the meeting, the delegates stated that they “looked forward to the subsequent cooperation in the field of smart sanitation and even smart cities.”
Authentication and Verification of Art
Hong Kong is a prime laundering space for looted antiquities. With close proximity to China, it is an increasingly popular base for racketeering as the value of Chinese antiquities rises. As Fujian’s major trading partner, there is large concern for an increase in China’s stolen or forged art and collectibles making their way across Europe, but also ample opportunity for solutions like Waltonchain to step in, given geographic significance.
Emiline Smith, a researcher at the University of Glasgow focusing on the traffic in cultural artifacts, says Hong Kong is now a transit point for objects stolen in Europe as well as China. “More often than not, Chinese antiquities that you can currently find on the market have been illegal at some point,” says Smith.
Items are shipped overseas and never resurface. Certificates are forged and heritage is lost forever.
“Some experts are now worried that the Belt and Road Initiative might lead to a new wave of pieces arriving in Hong Kong from territories with poor law enforcement in Central Asia and the Middle East.”
Enter Freyrchain. Freyrchain is the first child chain on the Waltonchain network. It is the world’s first and only blockchain-based collectibles data authenticity platform. Using Waltonchain’s patented RFID and IoT technology, every piece can be tagged and logged on the blockchain, where it will be forever unchanged. This will help significantly cut down on fabrications and forgeries, and prevent further loss of Chinese heritage.
Waltonchain has on more than one account confirmed via Slack channels that they have been contacted by the government regarding their traceability program. I have a hunch that Waltonchain may have been contacted regarding the traceability of antiques, as President Xi has cracked down on illicit trade of cultural property, and is a large concern for OBOR. This is of course, total speculation, but it wouldn’t surprise me if Waltonchain is more involved with the govt than we know, considering China is pushing for stake in large tech companies like Alibaba and Tencent. Who knows what goes on behind the scenes.
1st Summit Forum of Blockchain in Southeast Asia
Waltonchain was invited to the summit after winning the 2018 Outstanding Blockchain Company Award. The summit was held in Thailand. Malaysia is an important core area of the OBOR trade route, and (almost by no suprise at this point) the Chairman of the World One Belt One Road Initiative Foundation, Wang Hongbin, was in attendance. Others in attendance included the Former Deputy Prime Minister of Thailand, the Vice President of the National Assembly of Thailand, the Consultant of the Prime Minister of Thailand State Council, the Ambassador of Malaysia to the Kingdom of Thailand, and more than 2000 representatives of organizations from ASEAN countries, leading international blockchain technology institutions and high-level enterprises.
Waltonchain was presented as the most innovative blockchain project in front of an extremely prestigious audience in a key area of OBOR with the chairman present. There’s not much else to say here. There aren’t even lines to read between. The world is acutely aware of Waltonchain, and they are watching.
In an exhausting endeavor to catalog every instance of Waltonchain’s OBOR plans, I’ve undoubtedly left out a few things. Waltonchain has done pilots for Xiangyu Group for instance, a cross-border logistics company involved in OBOR. Another cross-border logistics company that recently partnered with Waltonchain, Huodull, has made explicit its role in OBOR. Other miscellaneous items include things like Dr. Wei Songjie’s patents on robot ships (yeah, I’m not kidding) used for acquiring water-area information, carrying sensors to carry out remote control and automatic sailing.
Until a few weeks to months ago, the crypto-community has had their nose so up close, scouring the details of Waltonchain’s latest partners and technological innovations, that we failed to see the forest for the trees — The Bigger Picture. Now that we’ve unveiled the larger goal, we can start to make sense of each piece of the puzzle in context with OBOR. This helps us understand where Waltonchain is going, and the decisions they’ve made to get where they are. It also helps us appreciate the underlying expertise of the team as world leaders.
Supply chain management, authentication and verification systems, and even the Internet itself are ripe for disruption. Blockchain technology is that disruptor. It will affect every corner of the globe, and the world is going to be a very different place a decade from now. The world is changing, and in times of change we look to our leaders to guide us through the technological revolution. Waltonchain is among those leaders.