I can't seem to find any official information as to where the Eight Trigrams Sealing Style originated or was based on.
However, here's a theory.
As you may know, Naruto has many influences from Buddhism and Hinduism: the Multiple Lotus Nonself Connected Cannons, The Six Paths of Pain, Formation of Ten Thousand Snakes and the Chakra, to name a few, were based on Buddhist and Hinduist beliefs.
With that, I say that it's possible it might be inspired from the Dharmachakra or the wheel of Dhamma. A comparison of the seals are shown below:
According to Wikipedia, it is connected to the Four Noble Truths and the Noble Eightfold Path, both of which are teachings to help a person escape the painful cycle of rebirth, if I understand correctly.