The global supply chain is still struggling to get back on track after three tumultuous years in which ports of shipment have stalled and the just-in-time delivery system has broken down.
One blockchain project that aims to help solve some of these issues and ease the transition to Web3 is OriginTrail (TRAC), a blockchain protocol focused on logistics and supply chain management that aims to become the first graph of decentralized knowledge of the world (DKG).
Data from Cointelegraph Markets Pro and TradingView shows that the price of TRAC has risen 162% in the past week, rising from a low of $0.36 on March 15 to a daily high of $0.95 on March 22. amid a 1,070% increase in trading volume in the last 24 hours.
There are three underlying reasons for TRAC’s sudden increase in listing and trading volume: the ongoing OriginTrail v6 rollout, the launch of AidTrust, and the migration to Web3.
Origin Trail v6
The biggest development that has helped improve TRAC’s prospects is the ongoing deployment of OriginTrail v6, which is currently running on the testnet.
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 number seen on previous DKG versions. And we are only getting started 1/4 https://t.co/2ZVXuFwSNU
— Brana Rakic - OriginTrail (@BranaRakic) March 18, 2022
The @origin_trail v6 testnet is turning into a beast! This week we hit a new record of 156k posts measured in 24h, which is a ~500x improvement over the highest number seen in previous versions of DKG. And we’re just getting started
According to the OriginTrail team, v6 is part of the next evolution of DKG that will help improve network performance by several orders of magnitude. It will also introduce new capabilities such as universal asset locators and interoperability with legacy knowledge graphs such as the Google Knowledge Graph.
Users who are interested in contributing to the community now have the opportunity to establish a v6 node to earn TRAC while helping support the overall operation of the OriginTrail network.
AidTrust launch
A second element that has drawn attention to OriginTrail has been the launch of AidTrust, a joint product launched in conjunction with BSI UK to bring visibility and trust to pharmaceutical supply chains.
AidTrust, a joint @TraceLabsHQ & @BSI_UK product you use @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 AidTrusthttps://t.co/CSeYjJG88X
— OriginTrail (@origin_trail) March 17, 2022
AidTrust, a joint product of @TraceLabsHQ and @BSI_UK using @origin_trail DKG to provide visibility and trust into pharmaceutical supply chains, is currently being rolled out to over 80 treatment centers across India.
AidTrust combines the capabilities of the DKG with BSI’s extensive supply chain experience to help ensure that donated medicines reach their intended patients in a timely manner.
With AidTrust, NGOs and pharmaceutical manufacturers can monitor the movement of donated products through the supply chain, identify any potential risks, and make real-time decisions based on secure data.
AidTrust is currently in the process of being rolled out to more than 80 treatment centers in India and there are plans to extend the platform to more than 40 additional countries worldwide.
Migration to Web3 and integration of Polkadot
The rise and ongoing transition to Web3 is a third factor providing some momentum to TRAC, as its Decentralized Knowledge Graph can help monitor, organize, and verify both physical and digital assets and make them discoverable on the blockchain. .
As blockchain technology slowly integrates into the underlying infrastructure of the Internet, projects like OriginTrail, which help track data, will be an important piece of the overall architecture, as data is the raw material that drives the digital world.
OriginTrail is also in the process of integrating with the Polkadot ecosystem through the creation of an OriginTrail parachain that will provide oracle functionality to any Polkadot parachain interested in DKG integration.
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