First of all, I would like to make a disclaimer – I am not invested in OriginTrail at the time of writing this. Also, my technical capabilities are limited, so I won’t discuss the tech itself here. Nonetheless, I find this project very interesting and I think it might have a big potential in the future. That’s why I make this quick review. But let’s just get right into it.
What is it all about?
The supply chain is, in my opinion, one of the best use cases blockchain right now. It’s a multi-trillion market that’s ready for disruption. The problem with supply chain management between companies is often that it’s fragmented. Can you be sure where the product came from? So, OriginTrail essentially synchronizes all supply chain data on a decentralized platform and storing the data permanently on the blockchain. This will guarantee the integrity of the whole supply chain.
It’s a layer of security to make sure that data provided by companies are correct. That’s important because these days, products go through multiple suppliers until they reach the destination – whether it’s a customer or company. Ability to check the quality of products without having to trust anyone is huge.
So, what is the utility and value of the token?
Coin holders that hold the token in the wallet will power the whole system. They will be paid and incentivized to help run the whole system. Companies will also be required to hold tokens to participate in the ecosystem. This means that adoption will drive the value of the tokens.
The team has been working on the project for a couple of years now and won an award from Wallmart food and safety innovation departments in Beijing. They have many partnerships in place, you can see them here.
OriginTrail is a blockchain agnostic protocol, meaning that it will be able to work on different blockchain platforms in the future (Ethereum, EOS, Aion). I think that’s a smart idea because it’s very early to decide which one will be a winner. Every blockchain platform is having issues these days, whether it’s scalability, lack of decentralization or adaption. This puts OriginTrail in an advantageous position where they don’t need to pick a winner.
Current progress and their roadmap
At this point, the company is very far in their roadmap and they generally stick to their deadlines. There was a main net delay, which I think could be understood, as the company has only one chance to make it right, it must be perfect. Their main net releases it on 7th of December and people will be able to start running their nodes, support the ecosystem and earn more Trac tokens.
The whole cryptocurrency and blockchain space have been bearish in the last months and Trac token isn’t an exception. The funds for the project were raised this year in January. They raised 21.500.000$ with 0.1$ per token. Right now, the token price is about 0.02$, meaning it lost 80% of its value from the ICO. On the other hand, it’s still up against Ethereum.
I like the project. I think they have a team and a product that can be successful in the future. As the project’s value is very low valuation at this moment (only around 6.000.000$) there is a big upside potential if you’re looking for a risky investment.
Right now, the team runs competition and giveaways, which you can find here. Who knows, maybe you can get your tokens to stake without risking your own funds.