OriginTrail Quarterly Report — Q3 2019
Q3 was marked by huge progress in the involvement of the OriginTrail protocol in European consortia. With the OriginTrail Decentralized Nework’s mainnet up and running, the core development team worked hard on additional integrations and optimizations. All this was covered with events, meetups, speaking engagements, and other communication. This is a wrap up of only the key milestones. You can learn much more about ongoing activities in regular monthly reports.
Protocol Adoption: Business Development News
Admitted Into Additional European Consortia
In Q3, much of the team’s attention was devoted to work on projects that are a part of four European Union-funded consortia. These consortia connect hundreds of partners and are contributing to the expansion of our partnership network. As an open-source blockchain-based technology paving the way to large-scale adoption, the OriginTrail protocol is attracting interest from researchers, public institutions, and government decision-makers on an international level.
In July, we saw the kick-off of the LEDGER project, which is an initiative of the Next Generation Internet (NGI). Trace Labs — OriginTrail Core Developers is part of an initiative with the Food Data Market project, an inclusive data marketplace for sustainable food production, equitable distribution of gains, and digital sovereignty of citizens and farmers.
In September, we were excited to announce another Europe-wide project — Blockchers — which supports blockchain use cases for small and medium enterprises all over Europe. The OriginTrail protocol will power a trusted data exchange and help connect the dots for an agricultural cooperative.
That same month, the DEMETER project started under the management of the Waterford Institute of Technology in Ireland. It is a large-scale deployment of farmer-centric, interoperable, smart farming, IoT-based platforms delivered through a series of 20 pilot projects across 18 European countries. Involving 60 partners, DEMETER adopts a multi-actor approach across the value chain (demand and supply), with 25 deployment sites, 6,000 farmers and over 38,000 devices and sensors being deployed.
Work also continued in the SmartAgriHubs project. You can find an overview of all consortia we are a part of in this blog post.
A lot of development went on with other partners, too. For more details on some projects, you will need to wait for the official announcements. You can pick up on a few hints by looking at the case studies on OriginTrail’s brand new website.
Next Stage for the Trace Alliance
The transition to the exciting next phase of the Trace Alliance started in September. We introduced Interim Chairman Andrej Muževič and Interim General Secretary Ana Bevc, a new organizational structure, and more activities for the members.
Andrej’s mission during his interim term will be to further craft the value propositions of Trace Alliance, reflecting the actual needs of broader stakeholder groups. This includes advancing Trace Alliance and the OriginTrail ecosystem towards stronger collaborations with other ecosystems. Read more.
Protocol Development: Technology
All development activities were on track throughout the quarter, which was evident on the project’s GitHub repository.
Testing Versatility of the Network for Non-Supply Chain Use Cases
An open-data pilot project was performed utilizing Bitcoin blockchain datasets from the Binance hack.
Testing the Network and Data Layer for Performance
Based on results from the testing, the core development team published the Freedom-Gemini Data layer specification for public review. You can review the specifications as requests-for-comments (RFCs) in the OriginTrail documentation.
Enable Node Hosting on Multiple Infrastructure
nOS now enables integration with DigitalOcean, AWS, and Oracle Cloud for organizations that implement OriginTrail protocol.
The core development team also provided an update of the node settings to adapt to change in Infura’s service.
Co-founder & CTO Branimir Rakić held an extensive AMA session in September where he walked the community through the latest development.
Replay it here:
Following the pattern established in previous quarters, spending is approaching the set targets. The development costs are still increasing and will continue to increase with focus remaining on executing the roadmap laid out for the following months. There has also been an increase in the marketing and business development, in line with the adoption and communication activities.
The organization remains in a good state financially, with enough funding to sustain further development efforts. The envisioned financial structure, according to the execution plan of the OriginTrail team, was presented at the TGE and can be seen in the values showing target share (at the end of 2020) below. Next to the target share, you can find the current share of costs based on the actual funds spent in a particular segment up to the date of the report. The assets’ value on Sep 30th was 7480 ETH.
Marketing & Communication
Our actions continued to echo in the media, social media, community channels, and elsewhere.
Here’s an overview of the highlights from Q3:
Supply Chain Innovation Summit, Sydney
Co-founder & Managing Director Ziga Drev was invited to present at Australia’s leading supply chain event in July.
NGI Forum in Helsinki
Ziga was also a panelist at Next Generation Internet’s annual forum.
LEDGER Inception Bootcamp
Our team members attended the bootcamp for the LEDGER project in Amsterdam.
Meetup in Amsterdam
We organized a community meetup in Amsterdam in July.
Educating the Business Community on Private vs. Public Networks
Tomaz contributed an educational piece on creating a relevant business use case with blockchain and why it’s necessary to combine the best of both public and permissioned networks. It was published on Forkast.News and he additionally spoke about it on a podcast with Angie Lau.
OriginTrail’s core technology developer, Trace Labs, has three offices. The headquarters are in Hong Kong, while its product offices are in Ljubljana, Slovenia, and Belgrade, Serbia.
Number of team members on June 30: 19
Number of team members on September 30: 20
*OriginTrail does not report advisors and contractors as team members.
OriginTrail is constantly hiring! Our doors are always open for talented individuals who would like to co-create the decentralized future with us. Check out and apply via our career page.
The Trace token (TRAC) is available on Bittrex International, KuCoin, IDEX and HitBTC. The number of token holders with more than 100k TRAC has not changed in Q3 2019.
Token holders that follow their portfolio through Blockfolio and Delta apps can stay up to date on major updates directly through the apps’ features.