SAN FRANCISCO, Jan. 10, 2018 (GLOBE NEWSWIRE) -- OriginTrail, a European IT company known for its traceability solutions, today announced it has joined the Enterprise Ethereum Alliance (EEA), the world's largest open source blockchain initiative with more than 250 member companies. OriginTrail joined EEA to bring data integrity and transparency to supply chains worldwide and support the adoption of Ethereum in the enterprise. OriginTrail will be part of EEA’s Supply Chain Working Group, with goals to focus ideating, create proofs of concept (POCs), and collaborate on ways to solve pain points existing in supply chain with blockchain solutions.
Joining nearly 300 other EEA member companies, OriginTrail is a key innovator in blockchain applications in the supply chain. The company provides the first blockchain protocol that is purpose-built for data exchange between organizations along the supply chain. OriginTrail offers a decentralized, off-blockchain network that is purpose-built for the needs of supply chains. Through the network, blockchain-supported data operations are fast and cost-efficient, and the technology addresses the $525 billion world supply chain market.
A decentralized, off-chain peer-to-peer network that safely combines supply chain data from different IT systems, OriginTrail’s protocol brings together the best of both worlds by connecting with any blockchain and any company IT system. This makes for a low adoption barrier, and stores only fingerprints of data on a blockchain. Original data is kept encrypted on a decentralized network, which enables development of decentralized apps on top of it. The protocol supports GS1 global standards for data exchange and can include Internet-of-Things data.
“Joining this community of Ethereum early adopters comes at a pivotal point in our growth. By being accepted by the EEA, OriginTrail further solidifies itself as an enterprise-grade software capable of handling one of the most complex, highly-demanding applications,” said Tomaž Levak, co-founder and CEO of OriginTrail. “The capabilities blockchain technology offers the supply chain industry will decentralize trust and bring about a new standard of data integrity and transparency, and the EEA will help us continue to provide solutions addressing the industry’s pain points.”
To further OriginTrail’s growth, the company recently announced a token crowdsale, or initial coin offering (ICO). The roadmap envisions the development of a decentralized network and a plug-and-play solution, suitable for all product supply chains, based on a mission to bring interoperability and information integrity to the fragmented supply chain world. Token presale will start on Jan. 15, 2018. It will be immediately followed by a crowdsale. The aggregate number of commitments for the whitelist has already surpassed the presale hardcap of $10 million.
For more information about OriginTrail or to download the whitepaper, visit https://origintrail.io.
OriginTrail is the first purpose-built protocol for supply chains based on blockchain technology. Blockchain technology has huge potential to decentralize trust in supply chains and bring enormous benefits. To unlock this potential, OriginTrail protocol was designed to tackle the prime challenges limiting the exchange and integrity of data in product supply chains. OriginTrail delivers IT providers in the supply chain industry quick implementation of blockchain-supported data sharing in multi-organizational environments.
OriginTrail is the missing puzzle piece that helps build transparency beyond the “one step down, one step up” principle, increasing integrity of data and saving money for stakeholders in supply chains. The first version of OriginTrail is currently in use in the food industry with the upcoming open source version applicable to any product supply chain. For more information about OriginTrail or to download the white paper, visit https://origintrail.io.
About The Enterprise Ethereum Alliance
The EEA is an industry-supported, not-for-profit established to build, promote, and broadly support Ethereum-based technology best practices, open standards, and open-source reference architectures. The EEA is helping to evolve Ethereum into an enterprise-grade technology, providing research and development in a range of areas, including privacy, confidentiality, scalability, and security. The EEA is also investigating hybrid architectures that span both permissioned and public Ethereum networks as well as industry-specific application layer working groups.
EEA will collectively develop open industry standards and facilitate collaboration with its member base and is open to any members of the Ethereum community who wish to participate. This open-source framework will enable the mass adoption at a depth and breadth otherwise unachievable in individual corporate silos and provide insight to the future of scalability, privacy, and confidentiality of the public Ethereum permissionless network.
For additional information about joining EEA, please reach out to firstname.lastname@example.org.
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