Comment on OriginTrail ICO Reaches Hard Cap in Presale, Raises $22.5m in Just 18 Minutes by Kimberly F. Derrickson

ADVERTISEMENTSToken Clariy

Share with:

OriginTrail announced Jan. 18 the end of the TRACE token crowdsale after successfully reaching the designated hard cap of USD 22.5 million. The project aims to use blockchain technology to bring transparency and accountability to supply chains around the world and fight persistent problems like counterfeit goods, food safety violations and sweatshops. OriginTrail launched its ICO presale on Jan. 15 and achieved its hard cap in 18 minutes, according to the issuers.

OriginTrail is developing the OriginTrail Decentralized Network (ODN) as an off-chain solution to the limited data throughput of existing blockchain technology. By design, data from many different IT systems can be integrated into the ODN and stored in a distributed cloud, while hashes or “fingerprints” of the data are stored on the blockchain for immutable record keeping. TRACE tokens are used to interact with the ODN and any dApps developed using the OriginTrail blockchain.

Co-founder and CEO of OriginTrail Tomaž Levak said in a statement, “We are honored to have experienced such a positive reception to our technology through our ICO. Building a product that inspires the confidence of so many supporters has been humbling and eye-opening. With this support, we can now begin executing the entirety of our roadmap over the next three years and ensure that ODN makes its way towards becoming the open-source standard for building transparency in supply chains.”

OriginTrail was recently recognized as a member of the Enterprise Ethereum Alliance (EEA) and has also received support from the Chinese food tech accelerator program Bits x Bites in deploying a pilot program with Chinese online farmers market Yimishiji. The program uses OriginTrail technology to help 1.4 billion Chinese consumers verify the source, journey, and authenticity of their purchases, according to OriginTrail.

Matilda Ho, founder and Managing Director of Bits x Bites, and founder and CEO of Yimishiji, added in a statement, As China’s first food tech accelerator VC, we set out to support startups that share our mission–to advance technology solutions to shape the future of good food. We couldn’t be more pleased to be working with OriginTrail and seeing the team revolutionize tomorrow’s food supply chains.”

To learn more about OriginTrail, visit https://origintrail.io.

  • OriginTrail ICO Reaches Hard Cap in Presale, Raises $22.5m in Just 18 Minutes – January 26, 2018
  • Anthony Di Iorio and big Name Cast at Polymath’s First Security Token Conference – January 25, 2018
  • Faceter Announces Surveillance ICO – January 24, 2018
  • Wanchain Launches Mainnet: World’s First Platform for Private, Cross-chain Smart Contracts – January 24, 2018
  • Arbitrage set for a Shake-up? Arbidex Platform Launches ICO After $6m Presale – January 23, 2018
  • Cryptocurrency giant NEO invests $3m in PikcioChain – January 23, 2018
  • KodakCoin ties up with Overstock’s tZERO Security Token Trading Platform – January 23, 2018
  • BnkToTheFuture Raises $30M in Presale to Add Security Tokens in 2018 – January 22, 2018
  • StormX Adds New EVP of Business Development and User Acquisition Head – January 18, 2018
  • Retainly Announces New Retail Partners Including Carrefour Brazil, Aliexpress – January 18, 2018
  • Jibrel Network Announces jCash for Regulated, Asset-Backed Smart Contracts – January 17, 2018
  • Overstock’s tZERO Announces Polymath to Advise ICO on Securities Law – January 16, 2018
  • OriginTrail Launches Presale in ICO for Supply Chain Traceability – January 16, 2018
  • Lykke Partners With Bangladesh Government – January 15, 2018
  • DASH Joins BitINKA for Latin America Crypto Exchange and Remittance – January 13, 2018
  • Shopin, iExec Partner to Enhance Retail Consumer Data Experience – January 12, 2018
  • Bitnovo Partnership Brings Dash to 10,000 Spanish Retailers – January 11, 2018
  • Crypto Valley Association Releases ICO ‘Code of Conduct’ – January 11, 2018
  • Kodak and WENN Digital Announce ICO to Put Photo Licensing on the Blockchain – January 11, 2018
  • Gibraltar Exchange Announces ICO for Regulated Token Sale and Exchange Platform – January 10, 2018
  • Voatz Raises $2.2M Seed Funding With Overstock’s Medici Ventures – January 9, 2018
  • BABB Names New CIO From UK’s Aldermore Bank – January 7, 2018
  • OmiseGO CEO Joins Electrify.Asia Advisory Board – January 4, 2018
  • Crypterium ICO Reports 50,000 Participants – January 4, 2018
  • Proof of Steak: BeefCoin Wants More Organic Meat in Moscow – January 3, 2018
  • Pundi X Announces Point-of-Sale Hardware Ahead of ICO – January 3, 2018
  • SyncFab Supply Chain Token Presale Launches – January 3, 2018
  • WINGS Launches Beta Testnet for Crowdsourcing ICO Evaluation – January 3, 2018

View All Articles

advertisementGameflip