This sounds like an interesting project, but we can't learn it deeply, since the information provided are still limited.
Waiting for more info to get a deeper understanding about the project.
We have very detailed whitepaper
https://orchidprotocol.com/whitepaper.pdf at glance i can say that our competitor might be for example skycoin
Very interesting project, looking forward to future updates. Are there any rough outlines of how much the medallions will go for in the ICO, or any guess on when PoW will start?