Waltonchain, the popular blockchain-based supply chain tracking company is making some changes in its leadership positions since the CEO of the company will now be replaced by Do Sang Hyuk as we are reading further in the blockchain news today.
According to the official announcement of the company, the former CEO Mo Bing, will step down from the project but will still continue to supply consulting services to the company. The man who took over was already involved with Waltonchain and is spreading the project’s message on the South Korean market. He established the non-profit Korea Blockchain Institute with the goal of popularizing the potential of the technology. The team noted:
‘’Mr. Do Sang Hyuk has been making a great contribution to the development of Waltonchain over the past years. We believe that, as an ecosystem and a team, Waltonchain will have an excellent future under the leadership of Mr. Do Sang Hyuk’’
The Waltonchain project is still a mystery for other platforms since it has ambitious goals to build blockchain-powered IoT systems. The project’s asset WTC was first created as an ERC-20 token during the ICO boom back in 2017. WTC peaked at $38.02 and about 0.003 BTC during the all-around rally but since 2017, WTC erased most of its value. The price dropped sharply after the giveaway scandal where the winner turned out to be a Waltonchain employee.
The Waltonchain project also had a lot of exposure to social media after it promised to become a platform that could easily compete with Ethereum. The use case was the same as VeChain and aimed to create its own tracking projects. Waltonchain is still aiming to make use of the improved climate for blockchain projects in China since the platform presented its case and helped build a new blockchain standard during the China Blockchain Technology and Industrial Development Forum in Shenzhen.
Waltonchain also works on hardware supplements for blockchain-based data processing aiming to connect the real world with the crypto assets. WTC however, is still in a bearish position with the potential to continue sliding. The company remains one of the major 2017 ICOs that continued operations.
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