in Korea as well as released an updated version of their whitepaper.

Waltonchain Partners with Fashion Town (Dongdaemun) to Initiate the First Blockchain + RFID Solution in South Korea

On September 5, 2018, the chairman of Dongdaemun Fashion Town Tourism Zone (Hong Seokgi), Waltonchain CEO (Mo Bing), and the CEO of DDM International (Lee Jongseon) created an agreement to implement blockchain technology and commercialization of Waltonchain’s RFID chip in Dongdaemun Fashion Town.

This partnership will promote the development and application of blockchain + RFID technology in the following sectors: retail, logistics, distribution, store management, and customer service.

You can read the Waltonchain official press release here.

Dongdaemun Fashion Town: South Korea’s Largest Fashion District

Dongdaemun is the most popular shopping district for South Koreans, and is made up of more than 35,000 wholesale shops,individual shops, and cultural spaces. This fashion district attracts more than 9 million visitors per day, generating over US$50 million per day in revenue.

The press release states:

The implementation of Waltonchain’s Blockchain + RFID solution in Dongdaemun Fashion Town is the first application use case of blockchain technology in fashion logistics and retail industry within South Korea, which will greatly optimize the logistics and retail system of the whole tourism fashion town. This is a great step forward in the development of the Dongdaemun Fashion Town”, said the chairman of Dongdaemun Fashion Town Tourism Zone, Mr. Hong Seokgi.

Waltonchain will also provide assistance and technical support for the development and circulation of DDM CHAIN, a new token being offered by Dongdaemun Fashion Town Tourism Zone. Presumably this token will be