TRAC’s price jumped 162 percent after the release of OriginTrail v6 and AidTrust, indicating that the protocol is ready for the Web3 transition.
Following a difficult three years marked by jammed shipping ports and a breakdown of the just-in-time delivery system, the global supply chain is still struggling to get back on track.
OriginTrail (TRAC), a logistics and supply chain management-focused blockchain protocol seeking to become the world’s first decentralised knowledge graph, is one blockchain project looking to help alleviate some of these difficulties while also easing the transition to Web3 (DKG).
TRAC’s price has risen 162 percent in the last week, from a low of $0.36 on March 15 to a daily high of $0.95 on March 22 amid a 1,070 percent increase in trading volume over the preceding 24 hours, according to data from several analysts.
The significant increase in TRAC’s price and trading volume can be attributed to three factors: the continuous rollout of OriginTrail v6, the launch of AidTrust, and the transfer to Web3.
v6 of OriginTrail
The continuous implementation of OriginTrail v6, which is presently running on the testnet, is the most significant development helping to strengthen TRAC’s outlook.
The @origin_trail v6 testnet is growing into a beast! This week we reached a new record of 156k publishings measured in 24h, which is ~500x improvement over the highest seen number on previous DKG versions. And we are only getting started 1/4 https://t.co/2ZVXuFwSNU
— Brana Rakic – OriginTrail (@BranaRakic) March 18, 2022
According to the OriginTrail team, v6 is part of the DKG’s next iteration, which will enhance network performance by several orders of magnitude. It will also include new features such as Universal Asset Locators and support for legacy knowledge graphs such as the Google Knowledge Graph.
Users who want to serve the community can now set up a v6 node to earn TRAC while also assisting with the overall operation of the OriginTrail network.
AidTrust is now open for business
The development of AidTrust, a joint solution with BSI UK to deliver visibility and confidence to pharmaceutical supply chains, is a second feature that has drawn attention to OriginTrail.
AidTrust, a joint @TraceLabsHQ & @BSI_UK product that uses @origin_trail DKG to provide visibility & trust in pharmaceutical supply chains is currently being rolled out to 80+ treatment centers across India 🇮🇳.
Learn more about AidTrust👇https://t.co/CSeYjJG88X
— OriginTrail (@origin_trail) March 17, 2022
AidTrust combines the DKG’s expertise with BSI’s significant supply chain experience to ensure that donated medicine reaches the right patients at the right time.
NGOs and pharmaceutical companies can use AidTrust to track the movement of donated products across the supply chain, spot potential dangers, and make real-time choices based on secure data.
AidTrust is now being deployed in over 80 treatment centres across India, with aspirations to expand the platform to more than 40 nations around the world.
Polkadot integration and migration to Web3
TRAC is benefiting from the ongoing rise and transition to Web3, as its Decentralised Knowledge Graph can assist monitor, organise, and verify both physical and digital assets, making them discoverable on the blockchain.
Because data is the commodity that runs the digital world, projects like OriginTrail that help with data tracing will be a key piece of the overall architecture as blockchain technology is gradually integrated into the internet’s underlying infrastructure.
OriginTrail is also working to integrate with the Polkadot ecosystem, with the establishment of an OriginTrail parachain that will provide oracle functionality to any Polkadot parachain that wants to integrate with DKG.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.