The final quarter of 2019 brought us the long-awaited Freedom-Gemini release, which was in the works for a large part of the year. We also announced new partnerships and continued to work on existing ones; TRAC token was listed on a new exchange, and the project got significant exposure at important events around the globe. We also launched a new website, which now comprehensively presents the whole OriginTrail ecosystem. We covered our progress in regular monthly reports, so this quarterly report covers broader aspects of the project.
Protocol Adoption: Business Development News
In Q4, Trace Labs — the core development company of the OriginTrail protocol — continued to be involved in numerous projects, some more public than others. Among public endeavors, it was selected to proceed to the next level of the Blockchers program with a project for an agricultural cooperative. The project plans to use the OriginTrail protocol to automate and streamline core processes and incentivize sustainable farmers by using a public blockchain with built-in transparency and integrity.
At the end of the year, Trace Labs was part of four currently active European consortia, with more than 200 partners, all of whom are featuring the OriginTrail protocol in their pilot projects and field implementations.
Trace Labs, OriginTrail’s core development company, announced a powerful new partnership in December. AppsPro, an Oracle Platinum Partner with a strong presence in the Middle East region, will bring solutions based on the OriginTrail protocol closer to enterprise and government users. Read more.
Adoption is connected to the availability of the Trace (TRAC) token, which enables the compensation for services on a peer-to-peer OriginTrail Decentralized Network (ODN). In Q4, TRAC was listed on ETHoutlet with its first fiat pairing. ETHoutlet is a Hong Kong-based exchange aiming at crypto mass adoption with a fiat-to-crypto gateway.
OriginTrail’s website was refreshed in October. You can now browse some key case studies of using the OriginTrail protocol in practice there.
Protocol Development: Technology
All development activities were on track and the core development team delivered on the roadmap for 2019. The most important update was the successful release of the Freedom-Gemini, update v4.0 of the OriginTrail node client, which was released on the mainnet of the OriginTrail Decentralized Network (ODN) on December 26th.
Freedom-Gemini brought numerous new functionalities to the network that significantly improve the state-of-the-art for decentralized networks when it comes to scalable data integrity, powerful data connectivity, and flexible data interoperability.
This update introduced litigation and reputation; removed the registration mechanism for new nodes; brought flexibility for more use cases with support for larger data sets; and gave users more control over pricing for jobs.
Along with the release, the core development team prepared a tutorial that helps you learn how to import data to your node, publish a dataset on the network and get the referenced object’s history via your OriginTrail Node.
In Q4 2019, the core development team also helped bring back OThub, a valuable community-made project for live insights into the OriginTrail Decentralized Network (ODN).
Following the pattern established in previous quarters, spending is approaching set targets. The development costs are still increasing and will continue to increase with the focus remaining on executing the roadmap laid out for the following quarter.
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 Dec 31th was 6990 ETH.
Marketing & Communication
The final quarter of 2019 was not strong only in terms of development, but also in OriginTrail’s presence in the media and at important global events.
World Crypto Con in Las Vegas
Co-Founder & Managing Director Ziga Drev took the stage at the World Crypto Con in Las Vegas in October. He was on a panel with representatives from Mastercard and Samsung and he also had a keynote address.
IoT Solutions World Congress in Barcelona
Co-Founder & Managing Director Tomaz Levak was on a panel in Barcelona with executives from Carrefour & Bureau Veritas at the world’s most important IoT event.
Blockchain Technology Summit at University of California, Irvine
In November, OriginTrail was part of one of the most expert blockchain summits that brought together blockchain experts from SAP, Bank of America Merrill Lynch, Deloitte, FedEx, Oracle, IBM, and Trace Labs (OriginTrail Core Developers).
University of Barcelona
In November, Co-Founder & Managing Director Tomaz Levak presented how blockchain technology revolutionizes food safety. His lecture was part of a workshop on rapid methods and automation in food microbiology.
We started a series of events open to the public at the OriginTrail tech hub in Belgrade. The academy features short lectures about the ideas that inspire us and the technologies we use.
Finally, the whole team regularly stayed in touch with the community through an AMA, regular updates on our subreddit, and our Telegram group and Discord server.
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 September 30: 20
Number of team members on December 31: 19
*OriginTrail does not report advisors and contractors as team members.
Trace Labs is constantly hiring! Our doors are always open for talented individuals who would like to co-create the decentralized future with us. Learn more and apply via our career page.
The Trace token (TRAC) is available on Bittrex International, KuCoin, IDEX, HitBTC, and — since Q4 2019 — also on ETHoutlet. The number of token holders with more than 500k TRAC has grown in Q4 2019.
Token holders that follow their portfolio through Blockfolio and Delta can stay up to date on major updates directly through the apps’ features.
This quarter was also the last phase of vesting schedules for all the tokens that were locked in the Smart contracts. The last portion was for Founders and Team and was unlocked in mid-January.
We are proud of our community for making the OriginTrail stronger than ever and contributing to the development. Most importantly, more than 200 active nodes are making ODN a truly decentralized network for trusted data exchange in global supply chains.
We’re making supply chains work. Together.
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