ICO Today Magazine News
Blockchain technology has huge potential to decentralize trust in supply chains and bring measurable benefits and value to the public and private sectors. To unlock this potential, the OriginTrail protocol was designed purposefully to tackle the main challenges which limit the fluent exchange of, and integrity of data in product supply chains. With supply chain data becoming increasingly fragmented, scalability and cost concerns of current decentralized solutions become evident.
OriginTrail is a unique solution allowing IT providers in supply chains to set up blockchain supported data sharing in multi-organizational environment. It helps them build transparency beyond the “one step down, one step up” traceability principle. Furthermore, it improves the integrity of product data and drives efficiencies for stakeholders. The first version of the OriginTrail solution is proven and currently deployed in the food industry. The upcoming open source version will be suitable to any product supply chain such as automotive, consumer goods, pharmaceutical etc.