The global economy is governed by supply chains which people usually have very little information about. However, with the introduction of blockchain technology, consumers are now taking an increasingly participatory role wherein they have the ability to share and access data within various product supply chains.
Origin Trail is a decentralized protocol that has been designed to share supply chain data via the use of a completely transparent network.
To be more specific, Origin Trail makes use of a blockchain that builds on well-established industry standards as well as promotes a P2P network that fosters:
- Consumer confidence
- Optimal supply chain efficiency
- Automated compliance
- Quality assurance
Additionally, every stakeholder is given the ability to securely share and store their data via encrypted channels. Not only that, Origin Trail is also fully compatible with existing ERP systems, thereby making the implementation process highly streamlined and uncomplicated.
Lastly, the Origin Trail ecosystem is regulated through a tokenized economy model that minimizes the possibility of collusion and introduces full accountability for the provided data. Users can develop direct relations with one another, and all of the network nodes facilitate internal transactions without incurring arbitrary fees — something that is commonly experienced by users of centralized data platforms.
Overview of Origin Trail
- Allows users to track their goods within a global supply chain with the touch of a button
- Promotes defragmentation of complex data sets which in turn enhance platform interoperability
- Can be used to facilitate seamless transactions between single and multi-organization supply chains
- Provides users with a cost-effective solution for governing complex business ecosystems
- The platform is scalable and can be expanded as and when the market demand increases or decreases.
This protocol helps enable the exchange of different data sets between multi-organization supply chains irrespective of their complexity. This not only ensures high-quality data availability but also promotes integrity within the platform.
Overview of the decentralized network employed by Origin Trail
While using Excel sheets is a common practice adopted by many organizations, Origin Trail uses existing GS1 standards so as to maximize customer-supply chain interactions. This helps reduce the processing costs that are typically incurred by companies making use of existing governance models.
Visual representation of the Origin Trail ecosystem
To elaborate on the data-support aspect of Origin Trail, the system is fully compatible with the following information bundles:
- Master Data: this information is placed into the blockchain by one trading partner with the intention of sharing it with other network participants. It contains descriptive attributes of real-world entities which can be verified by GS1 Identification Keys.
- Transaction Data: as the name suggests, this information pertains to transactions that are facilitated via an explicit business agreement — which in many cases can be a predefined supply contract.
- Visibility Data: this information is primarily related to the nitty-gritty of daily physical or digital activity within the supply chain. However, through the use of identification keys, specific details of items within the supply chain can be accessed by individuals across organizations.
How Origin Trail Works
Origin Trail makes use of the EPCIS framework since it allows for the native protocol to maximize its core functionality and overall usability. From a more technical standpoint, we can see that the platform deploys various layers which help to specify the meaning of separate data sets and bind that information to particular interface modules. As a result of this structure, a variation in specific network data can be achieved — all while preserving a common meaning for the data itself.
Visual representation of how the platform promotes data interoperability
The system is extensible and provides users with flexibility. The core data sets have the potential to be used for purposes specific to a given industry or application.
As a result of this modular approach, the layering and extensibility mechanisms help speed up the process of standardization as well as platform implementation within industrial-scale supply chains.
About the company
Since Origin Trail has been gaining a lot of traction within the food and gas supply sectors, it can be beneficial for readers to learn a bit about the team behind this entire operation.
Tomaž Levak is the co-founder and CEO of this company. According to his official online portfolio, he has been in the blockchain domain since 2011 and has managed a wide array of tech projects in Europe and the Middle East. Tomaž is also an H-Farm alumnus as well as a member of the Ethereum Enterprise Alliance Supply Chain working group.
Žiga Drev is the co-founder and COO of this project. Žiga has previously managed stakeholders within various complex supply chains across the globe and has also spoken at many international blockchain conferences over the years.
Branimir Rakić is the CTO of Origin Trail. Branimir holds a master’s degree in electrical and computer engineering. He has also served as a guest lecturer at SAE and is an alumnus of H-Farm.
Lastly, Maja Voje is the CMO of this outfit. She has over 6 years of continuous experience in the marketing sector and previously worked at Google and Rocket Internet. She is also currently employed by:
- Udemy — guest lecturer
- ICObench — reviewer and ICO rater
Token Performance Details
Origin Trail makes use of a native currency called TRAC to facilitate its internal transactions.
TRAC token lifetime performance chart (courtesy of CoinMarketCap)
Released into the cryptosphere earlier this year, TRAC tokens were initially priced at US$0.14. The currency hit its market high during the month of January and touched an impressive price of US$0.45 per token.
Since its initial price jump, the value of TRAC token has decreased a little, and as of March 26, its price stands at US$0.18.
Since OriginTrail allows manufacturers from diverse domains to keep track of their product data in real time, it will be interesting to see how the market continues to respond to this technology.
While TRAC tokens have only been on the market for a few months, judging by their performance up to now, it would not be surprising to see this currency take off later this year.
If you would like to start investing in Origin Trail, TRAC trading pairs are currently available on online exchange platforms such as IDEX, Fork Delta, and HitBTC.