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Prices have surged for Waltonchain (WTC) following their listing as an Internet of Things industry partner with Alibaba’s IoT Connectivity Alliance (ICA).

Recently, Alibaba held an industrial summit to determine outstanding developments in Internet-of-Things (IoT) technologies in Xiamen, China.

In a great outcome for the manufacturing and distribution focused blockchain, Xiamen Zhongchuan Internet of Things Industrial Research Institute Co., Ltd. has been officially listed as a member of the ICA.

Xiamen Zhongchuan Internet of Things Industrial Research Institute Co., Ltd. is the English translation for the research department responsible for the development of Waltonchain.

The IoT Connectivity Alliance is a co-operative group established by a collective of Alibaba.com Internet of Things industry partners. They have a primary focus of ‘jointly develop[ing] and improv[ing] IoT-related technologies, built relevant alliance standards, and promote national and international standards.

Waltonchain is perhaps the most notable blockchain of its type to receive membership to the ICA. Speculations that an official partnership with Alibaba.com may arise from such a strong showing at the summit have begun circulating, caused a spike in prices for WTC which currently sits at just over US$12.

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