What Is OriginTrail?

The OriginTrail platform is a decentralized protocol based on a blockchain, tailor-made for sharing supply chain data. The platform aims to build transparency in supply chains. For this, OriginTrail uses blockchain technology and provides the necessary foundation to build value and trust for optimized supply chain processes. In addition, the platform seeks to build on well-established industry standards from GS1 for automated compliance.

Using OriginTrail, all parties on the blockchain can securely share their data and store sensitive data in an encrypted way. OriginTrail seeks to assure a quick and efficient implementation process and introduce full accountability for the data provided.

To explain how the network functions, here is a simple example. A primary producer produces a product and ships it out for processing. The product is then transferred by distribution to warehousing and finally to the retailer. OriginTrail's blockchain technology allows all entities to check information on a specific shipment in real time. There is no paperwork involved, no fear of losing data, and no panic because someone is unsure where something is. The system permits for automation of data and entry into the blockchain, which is intended to be secure and cannot be tampered with once entered. So, every entity can check the status of the shipment. Also, GPS data can be included to track the shipment. As technology evolves, shipments can have sensors that monitor the package in transit. 

Let's consider a practical application in a dairy company specializing in selling fresh milk. Using OriginTrail, the company can prove to its customers the time it took to reach them and if it was stored at the appropriate temperature the whole way to ensure its quality. In this way, it connects the digital and the real world in real time.

Companies can thus operate with different computer systems with the blockchain and its information so that no data will be lost in translation between systems. The service is decentralized, which means no one person holds the keys to this data. This solution also implies that it can scale to meet changing demands and keep costs low.

The OriginTrail token, TRAC, is the native token of the OriginTrail network. The token is a standard ERC-20 token based on the Ethereum blockchain1. The TRAC token is the means of compensation between data consumers, supply chain data producers, and the OriginTrail node holders. In other words, the token provides the incentive to the nodes in the peer-to-peer network to perform the system functionalities. Resources like time, computing power, storage space, electricity, and communication bandwidth are needed in maintaining and operating the peer-to-peer network. The nodes store, manage, and deliver the data in graph form. Also, the token seeks to serve as a mode of payment for the DApps built on OriginTrial. 

To summarize, OriginTrail technology is a set of tools and protocols built on the OriginTrail decentralized knowledge graph (DKG), which is a shared network of entities—physical and digital objects, events, or concepts—illustrating the relationship between them. Also, a consensus system is employed where two parties must confirm the data to ensure that everyone agrees on the data.

History of OriginTrial

Žiga Drev, Tomaž Levak, and Branimir Rakić cofounded the company. The core development company, Trace Labs, was initially founded in 2013. It is a group of companies formed out of the United Kingdom, with a presence in Slovenia, Serbia, and Hong Kong. 

Drev has completed his bachelor's degree in international relations and affairs from the Rigas Stradina Universitate and MBA from the University of Ljubljana.

Levak also served as a marketing advisor at KZ Šaleška dolina. He graduated from the University of Malta and has a master's degree from the University of Ljubljana.

Rakić is the CTO of OriginTrial. He also served as a web department lecturer at SAE Institute and a network testing engineer at P3 Communications. Rakić has completed his master of science (MSc) in electrical and computer engineering from the University of Belgrade.

The ICO was held from January 15, 2018, to January 17, 2020, at 1 TRAC priced at $0.10, raising $21,510,000.

How Are New TRACs Created?

TRACs are pre-mined, and the new token enters the market when the team releases them. It has a cap for maximum supply. One can earn TRAC as an incentive for processing data or storing, managing, and delivering data in graph form.

How Many TRACs Are There?

The total (maximum) supply is 500,000,000 TRAC tokens.