OriginTrail a decentralized supply chain protocol is the winner of Walmart’s Food Safety Collaboration Center’s for the year 2017 – with its pilot project for Yimishiji, one of China’s largest online food stores.
The project builds on an existing use case which is enhancing traceability in European food supply chains since 2014. The new Blockchain solution enables even more credibility in the data provided.
Global supply chain data is increasingly fragmented and mostly works just on the “one step up, one step down” principle. On the other hand, current decentralized solutions are of limited use for supply chain use cases due to poor scalability and cost inefficiency. OriginTrail developed a unique protocol enabling IT providers in the supply chain industry quick implementation of Blockchain-supported data sharing in multi-organizational environments. It helps build transparency and integrity of data by performing consensus checks and safely storing fingerprints of data on immutable Blockchain ledgers.
“We are proud that our innovative, Blockchain-based traceability solution was recognized by Walmart, where they share our vision for transparent supply chains as a precondition for food safety. OriginTrail helps to ensure a safe choice for consumers and at the same time, protects brands” said Tomaz Levak, co-founder and CEO of OriginTrail.
The Slovenian-Serbian team recently opened an office in Shanghai to focus on implementation of Blockchain use cases in one of the world’s largest markets.
“Besides Yimishiji which is now in the Walmart’s Innovation Pipeline, we are currently implementing three other use cases in China, all focused on food supply chains, that will help producers verify the provenance, authenticity, and journey of their quality products” explained Ziga Drev, co-founder and COO who is managing operations in Shanghai, China.
“We recognized the opportunity in the Chinese market, where tech-savvy urban consumers are more concerned where their food comes from due to some recent food safety scandals.”
The initial version of OriginTrail is currently in use in the food industry, with the upcoming open source version being applicable to any product supply chain. This standard protocol will help improve efficiency and increase trust in supply chains on a global scale.
OriginTrail’s Blockchain solution was used in three pilot project with European food producers since 2016. There are already more than 1,200 farms included and tracked with the system. The project’s roadmap envisions an open call for more use cases in 2018 and the launch of the OriginTrail Decentralized Network – a peer-to-peer network that will enable further development of decentralized apps for inventory management, supply chain optimization, compliance, certifications, and much more. The protocol is supporting GS1 global standards for data exchange and can include Internet-of-Things data.
The team is planning a Token Generating Event next month, which will kickstart the next stage of the development. Token pre-sale will start on December 1st. Whitelisting for the access to pre-sale will be exclusively offered to the community, so follow the project’s website and other channels for more information coming soon.
The White Paper is available on the website: https://origintrail.io/token-sale/
- IT Services Giant Tata Launches Quartz Smart Solution Cryptocurrency Trading for Indian Institutional Investors - 8 July 2020
- Cryptograph Launches — Featuring Original Creations by World Crypto Leaders Blockchain-Based Digital Collectible Auction Site - 8 July 2020
- Research shows Insurance Industry Has Massive Knowledge Gap of Digital Assets - 8 July 2020