Supply chain projects like OriginTrail, Waltonchain and Wabi have rallied in excess of 250% as blockchain interoperability comes into focus.
Over the last few weeks, blockchain projects focused on supply chains and logistics have seen tremendous growth as the coronavirus-induced economic gridlock begins to loosen and future concerns related to the global pandemic subside.
OriginTrail is a self-described “ecosystem dedicated to making global supply chains work together by enabling a universal, collaborative and trusted data exchange.”
The project was established in 2011 with the goal of providing enterprise users with the ability to streamline their supply chains with added data protection and item tracking features.
Currently, the project has partnerships with big-name companies like Microsoft, Walmart and Oracle.
Waltonchain is focused on creating an ecosystem that combines blockchain, RFID technology and the Internet of Things in order to enhance operational efficiency for supply chain use cases.
One recent major development that may have kicked off WTC’s current rally was the successful upgrade of the protocol’s cross-chain center, which enables interactions between data on different blockchains, including Ethereum and Fabric.
Waltonchain is another supply chain-focused protocol
Wabi is a supply chain ecosystem that connects brands and consumers by enabling the seamless, fair, confidential exchange of information.
Currently, the protocol is preparing to launch a new business-to-business marketing solution with a focus on markets based in Asia.
The reopening of supply chains after a year of disruptions brought on by the COVID-19 pandemic appears to be the most significant factor connected to the future success of Wabi and other supply chain and logistics-focused platforms.
On a sectorwide level, interoperability with other blockchain platforms has been one of the primary drivers of the rally among supply chain projects in 2021. As the global economy begins to open back up and supplychains are reestablished, platforms that facilitate smooth global trade could see further upside.