“To Proliferate the Technology, Internal Buy-ins Are Crucial”

Highlights from Tomaž and Žiga’s interview with Crypto Gurus

OriginTrail
Mar 26 · 5 min read

At the beginning of March, OriginTrail co-founders and managing directors, Tomaž Levak and Žiga Drev, were interviewed by Tom Heavey from the Crypto Gurus YouTube channel. Tom already had prior knowledge of the OriginTrail project, so he had really on-point questions. Tom highlighted the importance of corporate partners in the OriginTrail ecosystem and praised the economics of the Trace token (TRAC).

Tomaž and Žiga were eager to share all the latest project updates and plans for the future. In this blog post, you can find the key highlights from the interview. For the whole story, watch it here.

What were the founders up to before they launched the OriginTrail project as we know it today?

OriginTrail is based on the belief that sustainable supply chains are only possible if you enable all organizations, big and small, to exchange data in a trusted way that is beneficial to them.

OriginTrail is resolving problems with bad data using different types of blockchain. Žiga highlighted three types of bad data that hurt modern supply chains: unstructured data, untrusted data, and inaccessible data.

How is OriginTrail different from its competitors?

OriginTrail structures data for supply chain purposes according to GS1 open standards. When data is being recorded according to these standards, it can be easily used for different purposes in the supply chain.

A huge difference between OriginTrail and the competition is that we are not building a blockchain but simply leveraging existing ones by enabling data scalability.

OriginTrail also builds accessibility. Data sets coming from different parts of the supply chain can be compared, which enables system interoperability. OriginTrail very effectively stitches together data from those different systems and this is its unique value proposition.

Which companies and other partners is OriginTrail working with?

Beyond the food industry, OriginTrail is working with big players in the certification and standardization space. Since the beginning of 2019, we have been very proud to work with the British Standards Institution. Together we’re working on a project that would present a new way to approach the standardization and certification process. Now, if you are trying to validate a particular standard certification, you can do so using the OriginTrail protocol.

Another interesting project that we are working on is with the Swiss Federal Railways. The project is in the transportation sector and enhances the safety of rail travel, providing traceability and visibility of infrastructure maintenance.

There’s plenty of other projects the team has been working on over the past months. A very promising example is the data marketplace, which enables companies to compensate their partners for each data set that they exchange.

What is the relationship between the OriginTrail protocol and Trace Labs?

Economics of the utility token

Tomaž illustrated that if someone wants to publish a dataset on the ODN, they have to post an initial stake (1000 TRAC — expected to increase to 3000 TRAC soon). This stake is required from every node holder. Data creators also need to buy TRAC to compensate other node holders for their work (let’s say they set a price at 100 TRAC), but every data holder also needs to stake 100 TRAC until the job is finished as a guarantee that they won’t tamper with the data. Until the job is finished, no one can take out that stake.

Will you incentivize others to use the OriginTrail protocol?

Žiga also highlighted that when you want to employ and proliferate the technology, high-level internal buy-ins are crucial. That’s why it is important that we have a relationship with C-suite executives with most of the companies.

Usage of the OriginTrail Decentralized Network and key metrics

What should we look for in the future?

Overall, 2020 is going to be the year of adoption. People will be able to test out the solutions. You can already go to BSI’s website and if you want to purchase their standard, their web store is directly connected to OriginTrail. That’s a great achievement because of the fact that OriginTrail is being used by important companies.

Overall, we will keep on expanding certain community topics to see if they experience increased interest. We look forward to fostering ecosystem growth beyond. That’s why we’re also working on the community website, which will enable us to highlight valuable contributions from community members.


Watch the entire interview:

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OriginTrail

OriginTrail is an ecosystem dedicated to making supply…

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OriginTrail is Enabling Businesses to Speak the Same Language with Integrity

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OriginTrail is an ecosystem dedicated to making supply chains work together since 2011, contributing to a more transparent, fair, and trusted global supply chain.

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