IronWood Analyses

OriginTrail; Technical Report

OriginTrail is a purpose-built protocol for supply chains based on blockchain technology. Supply chains are often seen as one of the best use cases for blockchain, promising many upgrades when compared to centralized solutions used by the industry today. The protocol brings decentralization to supply chains, and with that comes traceability, trust, and information integrity.

OriginTrail technical report

The OriginTrail ecosystem is built on nodes that provide the processing, bandwidth, and storage capacity to make all data functions possible. The node operators are paid with TRAC tokens.

The primary difference between other supply-chain-centric projects and OriginTrail is that OriginTrail is a protocol, meaning OriginTrail can be used to gather information from different blockchains and integrate them together. This is advantageous because instead of directly competing with other established supply chain projects, it is possible to integrate them within OriginTrail’s ecosystem directly.

Breaking into the multi-billion dollar supply chain industry will be a challenge for the team, but given the current state of supply chain management, it’s entirely feasible as this promising technology comes to be more accepted and used. The current centralized systems often offer poor scalability and inefficient cost effectiveness. OriginTrail is attempting to surmount these issues with the use of blockchain technology directly.

OriginTrail is based in the capital of Slovenia, Ljubljana. The team is composed of experts experienced with supply chains and a variety of other areas, and their advisors are industry-leading experts with vast experience in commerce and supply chains.

OriginTrail Team

Tomaž Levak Co-Founder & CEO
Co-founded OriginTrail in September 2013 with Žiga Drev and Branimir Rakić. He studied at the University of Ljubljana, where he received his Bachelor’s in International Relations and his Master’s in Human Resource Management. Tomaž managed supply chain and technology projects in Europe and the Middle East.

Žiga Drev Co-Founder & COO
Co-founder and Chief Operating Officer at OriginTrail. He studied at the University of Ljubljana and received a Bachelor’s in International Relations and his MBA. Žiga manages stakeholders in complicated supply chain setups in Europe & Asia.

Branimir Rakić Co-Founder & CTO
Chief Technology Officer and Co-Founder, Master’s in Electrical and Computer engineering. Branimir has been optimizing telecom networks since 2011 and working on blockchain supply chains since 2016.

Maja Voje CMO
Chief Marketing Officer and Co-Founder. Maja has six years of experience in marketing, and is a Google and Rocket Internet alumni and Udemy instructor.

Aleksandar Veljković Blockchain & Cryptography Lead
Teaching assistant at the Faculty of Mathematics, University of Belgrade. Aleksandar’s research topics include blockchain and Big Data.

Token stats and ICO

OriginTrail uses an ERC-20 based utility token called “TRAC.”

Total Supply: 500,000,000 TRAC
Token standard: ERC20
50% of all tokens sold at ICO for 22.5 million USD (10c per token), with about half sold in pre-sale at a 20% discount.

TRAC tokens serve as payment to all the functions in the OriginTrail ecosystem.

Node holders can perform several tasks with TRAC and receive compensation for their services via the token. Anyone who holds the token will be able to stake any amount of TRAC and passively gain TRAC for providing services to the ecosystem.

The previously mentioned functions are in the protocol layer; the second layer is for derivative use of TRAC tokens inside decentralized applications built on the protocol.
One example could be a consumer application that would award shoppers TRAC tokens for interaction. The potential use cases for applications built on the OriginTrail are vast, and every such use will require TRAC tokens, potentially driving the demand and price upward.

Competition

Currently, Origin Trail doesn’t have any direct competition. There are others in the industry that are trying to achieve a somewhat similar goal, but owing to Origin Trail being blockchain agnostic, these other technologies can incorporate and benefit from using Origin Trail’s protocol and network. The supply chain industry is massive and can genuinely benefit from blockchain solutions, so it would be easy to imagine competitors in the future.

Points of Confidence:

  • Blockchain agnostic
  • Variable masternode staking
  • Zero knowledge proofing
  • Built on GS1 standards
  • Easily integrated into existing ERP systems

Risks:

  • Small Team
  • Heavily reliant on community development of dApps
  • Team does not have a lot of documented experience within the industry

Conclusion

OriginTrail is a leader in blockchain supply chain solutions. In operation for over five years, OriginTrail has been providing solutions to help bring transparency and accountability to supply chains. With its smooth integration into existing ERP systems, OriginTrail aims to be a plug-and-play system that could make big waves in the industry. The team is on target with most of their roadmap within 2018 and will release the beta in June. OriginTrail has met each target and excelled in community outreach. With a knowledgeable team and dedicated community following, it is easy to see how OriginTrail can advance the supply chain industry into a new revolution of transparency and accountability while providing compensation to those who contribute to the cause.


News & Resources

OriginTrail was the first blockchain startup to receive the Wal-Mart’s Food Safety Innovation Spark Award.

OriginTrail joins the Enterprise Ethereum Alliance and Blockchain for Social Impact coalition.

April release of Incentive model documentation and full GS1 compatibility.

  • European Wine Pilot Project has been completed, meaning that OriginTrail is tracking data from European wineries that are making their way to the Chinese market
  • First public call for Trace Alliance
  • Hong Kong Office to focus on new partnerships in the Asian markets

Website
Whitepaper

Medium
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