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Questions and answers from our latest #AskWTC AMA

Q1.

Slack name: bamber

Q1.1: In a retail clothing shop customers often pick up items and return them to the wrong rails. When a member of staff then resets these items the system would log them, skewing the grab rate data. What have WaltonChain done to solve this issue?

Answer: Waltonchain’s solution with its unique RFID-based hardware tracks not only clothes but customer picks. Data from different readers (shelves, fitting rooms, price scanners, checkout counters, etc) is aligned and verifies each other. The sequence of RFID reads are time-aligned for interpretation of user behaviors and interests.

 

Q1.2: Do the RFID clothes rail scanners work on circular rails which are popular in clothing shops?

Answer: Technically, yes. Practically, we are further testing and improving performance for the most popular environments and scenarios in the clothing industry.

 

Q1.3: Items of clothing which are neatly folded and displayed in piles (e.g. jeans) present challenges in terms of placement of RFID scanners. How does the Waltonchain system overcome this?

Answer: Okay, we see where this question is coming from: You are asking this because you have not realized the fundamental difference of the RFID tags we use vs. some of the NFC tags you’ve seen out there. This is a good question. Let me elaborate a little, and take this opportunity to give a basic RFID 101.

For basics, you should just remember that RFID is the process by which items are uniquely identified using radio waves. RFID tags/chips are the hardware chips that in everyday use people usually refer to as “RFID.” This is fine in daily speech.

On a very high level, to make it simple, there are two types of RFID chips we see in the Blockchain world:

  1. Ultra High Frequency (UHF) RFID tags, which operate in 856 MHz to 960 MHz frequency ranges; and

  2. High Frequency (HF) Near-Field Communication or NFC tags, which operate in 13.56 MHz frequency ranges (these tags can be read by your phone. Recently iPhones have implemented this capability.)

Both of these chips are categorized as RFID tags, under the RFID family. The difference in these tags are tldr, but the takeaway for our case is this:

Our Waltonchain-compatible UHF RFID chips are readable 9 feet away, in a batch, all at once. NFC chips are usually used in peer-to-peer, i.e., using your phone to scan an NFC chip in very close proximity (a couple of inches or closer).

If you watched our demo video made by Boxmining on Youtube, you will notice that we use UHF RFID (Ultra High Frequency) technology.

Finally, to answer your question, with UHF RFID system and the Walton RFID reader, we will be able to read with 100% accuracy the tags within a pile of clothes, neatly folded or not.

 

Q1.4: In a clothing shop can staff manually amend the blockchain data? (if activities in the store results in skewed data - e.g., a large number of items being mistakenly moved resulting in artificial grab rate data etc. can anything be done by the staff to correct this?

Answer: Nobody can tamper with data on blockchain. Our specially designed RFID end devices collect data and record on the chain automatically and reliably. At the same time, data analytics can be used to interpret employee behavior as well.

Q2.

Dominique‏ @DomFromParis Nov 18

Q2: Can you confirm it will be 5000 Walton for a masternode and what % will be paid to the holders?

Answer: Yes, holding 5000 WTC qualifies a node to be a Masternode, which will earn extra rewards for every mined block. The percentage and/or reward system will be announced with other details. Please follow our official announcements.

 

Q3.

Sam Lyons‏ @SamTaweets Nov 18

Q3: AskWTC If possible can you please tell us if you have any partners already secured for the RFID when you go live on-chain?

Answer: As you will have seen from our blog posts and various news articles we have several close partners and have signed strategic cooperation agreements with a number of organisations. We released news of one just last week. Many of these companies have already been using our RFID technology and all have projects planned for RFID + Waltonchain integration. In terms of ongoing discussions, we will not release specific information about them until they are 100% confirmed.

 

Q4.

Dominique‏ @DomFromParis Nov 18

Q4: Why Walton does not have a GitHub?

Answer: We will have a GitHub. We will provide the GitHub for our full node, light node, wallet, etc. We want everything to be thoroughly tested before public access. Also, our software rollout has to be aligned with hardware R&D.

 

Q5.

Peter Peterson‏ @Hamster10Peter Nov 18

Q5: Binance is a good exchange but is it manipulated by trading bots to keep the price unnaturally low. When will WTC be listed on Bittrex or Bithumb? We really need one of the biggest exchanges so our beloved coin can grow naturally.

Answer: We have been discussing cooperation with many well-known trading platforms. Please pay attention to our official announcements.

 

Q6.

Sam Taylor‏ @chunkylover199

**Q6:**What is to stop someone simply removing a tag and leaving the tag on an adjacent item of clothing on the rack in order to steal a piece of clothing?

Answer: We are developing many different ways to integrate the RFID tags into products. We will make it difficult to remove a tag without damaging it, or the host. In the case of clothing, tags do not have to be attached. They can be printed, woven or sewn into the article itself.

 

Q7.

Derek Chow‏ @maseradee Nov 18

Q7: Are there any mechanisms in place to stop someone cutting off the RFID tag from a clothing article and walking out?

Answer: It is difficult to develop a perfect theft deterrent system. The methods currently used by shops can deter a portion of the thefts. Additional developments like sewn-in tags will increase deterrence. Also, our RFID tags are not always able to be cut. Wait and see.

 

Q8.

Rational Riddler

Q8: Will businesses using Waltonchain need to run masternodes or will the unique Waltonchain hardware provide all the mining a business needs? How many readers/scanners will your clients need per store to properly implement the system? #askWTC $WTC

Answer: We aim to provide a fully automated solution with complete software and fully-capable hardware. In doing so, businesses that adopt the Waltonchain system can focus solely on their day-to-day requirements without concerning themselves with those aspects covered by the Waltonchain system. Our entire ecosystem scales up with businesses as child chains are created. We want to make it as easy as possible for our partners’ businesses to fulfill their growth potential.

 

Q9.

wtcrfid‏ @wtcrfid Nov 18

Q9: AskWTC What hardware will I need to run my 5,000 WTC masternode? Will a RasberryPi type system suffice?

Answer: While a RasberryPi could be capable of running a node, It would not be ideal. Please wait for our news on the mining hardware needs.

 

Q10

Sergey‏ @CryptovalleyOF 20 hours ago

Q10: Most of the community is concerned about the relation between the price of a token and the blockchain system, what will a WTC token will be equal to? 1WTC= 1000 Transactions? 1WTC=18,000,000,000,000,000 transactions? I would love to hear your response.

Answer: The transaction exchange rate is established by the marketplace, not by Walton.

 

Q11

Syed M Mujahid‏ @smmujahid

Q11: Walton Chain system essentially include RFID tags, Scanners and blockchain application that will be customizable according to business needs. According to you, tag might cost around 5 cents, what about each scanner and the application. Will it be viable for small businesses

Answer: Our definition of an affordable system is twofold: 1) something that provides long-term additional benefits and 2) something that is worth its cost. The Waltonchain system has been tested in industry and has yielded positive results that our clients did not expect. One example is an increase in distribution efficiency of nearly 100%.

 

Q12

Lemuel Wong‏ @2BitsCrypto

Q12: Will it be possible to use Walton Chain RFID technology in Luxury handbags, such as Hermes for example, to verify it as an authentic item that is recorded in the blockchain? Or can RFID chips be copied/replicated? Last thing are your RFID chips EMP proof? Thank you Walton team!

Answers: Yes, verification of authenticity is a very basic use case. Our RFID chips can not be copied or duplicated. EMP proof RFID chips are not an immediate concern, but are absolutely within the scope of our research and development.

 

Q13.

Sergey‏ @CryptovalleyOF

Q13: One of the main concerns I have about the Waltonchain project is what will happen when the new wallet and blockchain becomes publicly available. I'm sure there will be lots of scams and fake websites claiming to be Waltonchain - what will you do to ensure that the changeover is as safe as possible?

Answer: Security has and always will be among our highest of priorities. This is primary in our system design and deployment but also in ensuring the trust of our community. Official announcements will be made to assist in the transition from ERC20 tokens to official WTC coins.

 

Q14

Errrrr_pesillo‏ @pablo_melo7 Nov 18

Q14: How do you plan to compete with an RFID solution on the IOTA network in future with no mining fees? (Assuming IOTA delivers on their promise) #askWTC #AskWTC

Answer: Our RFID system includes a revolutionary RFID reader/writer that not only communicates with tags but also performs the task of mining.

 

Q15

Rami Yousif‏ @ramiyousif91 Nov 18

Q15: Is there any upgrade for your website? #AskWTC

Answer: Yes, there will be an upgrade to our website moving forward. Please watch for our official news release.

 

Q16

matthew collins‏ @mineu999 Nov 18

Q16: Why was there a QR code on the blockchain demo product and will it be there for the final production model? #AskWTC

Answer: Through our network of pioneer users, we are constantly evaluating and refining the production model design. Many aspects may change and many may remain the same. This all depends on feedback from our case-study clients.

 

Q17

Collin‏ @CollinsCustomIP Nov 18 Q17: Please address the wabiico competition & specifically describe how your patents protect your specific (hopefully novel) RFID technology. #askWTC #bitcoin #btc #usecase #blockchain #rfid

Answer: The Waltonchain system starts at an integrated circuit level and will be incorporated directly in the manufacturing of electronic devices and products. At this stage, no human interaction occurs—thus the chain of authenticity begins. We can also integrate our RFID technology at higher levels in the manufacturing/supply chain, such as in packaging, as other competitors might.

Our patents and IC RFID designs incorporate technology not seen in the RFID space before.

 

Q18

Tristan Maunder‏ @WTCTricky Nov 18

Q18: #AskWTC For masternode holders... Are we going to be able to store our WTC on a hardware type wallet for security? "cold staking"

Answer: At this stage we cannot say with 100% certainty that “cold staking” will be implemented. We hope to work with vendors like Ledger and Trezor to implement “cold staking.”

 

20 comments
96% Upvoted
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26 points · 7 months ago

Great work WTC team. Incredibly professional and transparent towards it's ever-growing community.

This project is goddamn bullet proof. They've thought of everything. They are just so ahead of the curve it's not funny.

These AMAs are extremely clarifying and thorough. I always say I couldn't be more confident in this team, but then AMAs like this come out and make a liar out of me again and again.

Thank you guys so much.

Cant wait for q1 2018

But you have to ;-)

Great news guys. Go go team! This is awesome.

Stocked up on more WTC. Cleared up grey areas like getting GitHub and getting on bigger exchanges.

Once we get that Github and wallet, we will definitely see ourself on bigger exchanges.

I hope that we can get cold staking through the ledger, that would be a dream come true and relieve my worries.

So much to look forward to in 2018. man i just can't wait

Thank you for the consistent and clear communication.

What an incredible, clear, concise QnA - fill my bags up baby!

5 points · 7 months ago

Q1 is not really answered, how can the RFID reader know when an employee is grabbing the item? Not talking about check-out but merely grabbing

6 points · 7 months ago · edited 7 months ago

The sequence of RFID reads are time-aligned for interpretation of user behaviors and interests.

I thought they answered it very well.

Examples:

  1. Item A, goes on Shelf A. Customer picks up item A, and returns to Shelf B. Employee later picks up Item A and returns to Shelf A. Data analysis could ignore the pick up of Item A from Shelf B.

  2. Employees cleanup department near closing time - say the last hour of the day. Many items are moved around, returned to correct shelves, restocked, etc.. During this hour the analysis could ignore all item movements from grab rate data.

3 points · 7 months ago

All data has noise, something like an employee grabbing an item is irrelevant because over a long enough time period they'll do that with every item, therefore increasing the grab rate an even amount and unaffecting the data.

With a bulk accidental move like the one described in the question, something like that is easily picked up on during data analysis.

2 points · 7 months ago · edited 7 months ago

No it was answered perfectly, let me elaborate.

The RFID tags are aligned with specific readers. If a shirt is placed in the wrong rack -- it simply won't be read the next time it is grabbed, because the reader does not recognize it. So an employee removing this shirt from the wrong rack will not skew the data at all -- it will be ignored automatically. Only after the shirt is back in the correct rack will the next "grab" be read and added to the blockchain.

Also, notice in the boxmining video that removing a shirt is an event written to the blockchain. Returning it back on the rack was not. So only true grabs by customers from the correct rack will be stored on the blockchain.

I think the better question would have been: how will companies handle the potential for bad actors to "grab" an item over and over to skew the results in their brands' favor. In that situation -- data analytics would help ignore those kinds of things but they may want to be careful how much they divulge to the public lol.

edit: changed wording

It's like collecting data for anything else, really. If you want to answer a survey with all 5 out of 5 marks and not take it seriously, your data will be thrown away and considered too extreme.

I'm a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

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Last thing are your RFID chips EMP proof? Thank you Walton team!

omg this guy.

During this AMA I've asked the team to explain how a high token price could be in the interest of the customer and the company since it seems obvious that the higher the token price, the more expensive the solution to the customer becomes, plus a high volatility in the price of the solution is not workable for large corporations that need to plan the precise cost of an investment. There has been a lot of discussion around this on Slack and Reddit and no one has been able to give an answer. This means all of us are just speculating on the idea that if Walton becomes successful, the token price should become expensive (rather then Waltonschain's stock price) and we all make a lot of money. I will still keep quite a lot of coins for now as i'm cinvinced the price will inflate further precisely due to everyone's blind speculation on the price mechanism of the token but as i'm not a (big) gambler I will not invest further. I know a lot of people had this question and I suppose some of them have asked it during the current AMA. The fact that this most essential issue of all (let's admit, a high price is ultimately the only thing we are really interested in) is not addressed is a major red flag to me. Happy speculation to all :)

Comment deleted7 months ago(1 child)

I do know if it was asked since I asked myself. Plus there really isn't a more fundamental question then this unless you're a philanthropist. How can the answer not be 100pct crystal clear and satisfactory to everyone?

man they better have cold staking for the masternodes otherwise that would be a huge let down

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