Improper tracking of goods is a critical issue in the supply chain industry from a consumer’s perspective because consumers today want more transparency about the products they are purchasing.
OriginTrail wants to satisfy the need of the customers. OriginTrail’s protocol provides a solution to the problem of maintaining trust among all players involved in bringing a product to market in a supply chain. The participants are called stakeholders. These stakeholders can share and store their data through encrypted channels on the blockchain.
OriginTrail wants to satisfy the need of the customers. OriginTrail’s protocol provides a solution to the problem of maintaining trust among all players involved in bringing a product to market in a supply chain
The ecosystem is organised through a tokenised model which minimises collusion and improves accountability in the system. One of the best steps the company has taken is that it made OriginTrail fully compatible with the ERP systems. While using Excel sheets is a common practice adopted by many organisations, Origin Trail uses existing GS1 standards so as to maximise customer-supply chain interactions.
The company has been working on improving the traceability in the food and gas supply sectors since 2014. Further advancements were noticed when the company introduced blockchain technology in 2016. The team has profound technical experience in the supply-chain and the blockchain industry. The key to this company’s growth lies in the diversity of the products.
The project has the potential to grow because the product it is offering will be a lot cheaper than the products built by Walmart and other centralised giants. The token has performed decently in the market and can produce further returns if the company manages to cover more products and partnerships in its platform.