OriginTrail (TRAC) Soars 150% After Pharmaceutical Supply Chain Deal

TRAC, the native token for the OriginTrail network, has soared 150 percent following the rollout of its AidTrust pharmaceutical supply chain tracking system in more than 80 Indian treatment centres, and the launch of an upgrade on its testnet.

According to CoinGecko, the price of TRAC surged from a recent low of US$0.37 on March 16 to a high of US$0.90 on March 23. Over the same timeframe, 24-hour trading volume exploded from just over US$1 million to around US$30 million.

Supply Chain Tracking System Drives Price Action

The launch of AidTrust, a pharmaceutical supply chain tracking and tracing system developed in partnership with British-based BSI Group, has been a major driver of TRAC’s current price action:

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

The project aims to bring transparency and trust to medicine and vaccine supply chains. It is being rolled out in hospitals and treatment centres in India with plans to bring the system to more than 40 additional countries.

What is OriginTrail?

OriginTrail isn’t actually a blockchain – it’s a set of protocols run on a decentralised network of nodes that can augment blockchain functionality by enabling trusted data sharing between organisations and blockchains. 

Using OriginTrail, information from disparate sources – including different blockchains and oracles – can be shared and secured in what is known as a decentralised knowledge graph, which is searchable. It’s like a Google for blockchains.

The TRAC token functions as both collateral to ensure the accuracy and immutability of data and as a form of payment to compensate data holders for the use of their resources.

Origin Trail v6 Launched on Testnet

A second important driver of the price increases was the testnet launch on March 10 of OriginTrail v6, the latest version of the decentralised knowledge graph protocol. This update introduces a range of new features which aim to bring enhanced ‘Google-like’ capabilities to Web3:

🆙The OriginTrail V6 in numbers: nearly 300k new publishings, & close to 200 nodes live in less than 5 days since the start of the Telemetry bounty program!

Take a V6 node for a spin or go a step further by contributing on Github and win $TRAC rewards!https://t.co/e0t35nZLMW

— OriginTrail (@origin_trail) March 14, 2022

The latest upgrade also significantly improves the scalability and performance of OriginalTrail. Following a thorough testing phase, OriginTrail v6 will launch on mainnet later in the year:

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 (We're hiring) (@BranaRakic) March 18, 2022

Blockchain-based supply chain tracking systems similar to OriginTrail, such as the Australian-based Security Matters, saw significant interest earlier in the Covid pandemic as transparency and trust within vaccine handling supply chains became a major point of concern.