Introduction
In the pursuit of strengthening any economy, manufacturing traditionally plays a pivotal role in the economic development drive of both developed and developing countries. With the furtherance of technology, manufacturing has drastically improved over the last two decades and there is yet room for further improvement with the continuous infusion of technology in the manufacturing process at all levels. Foremost industrialised countries like the United States and China gives credence to the importance of manufacturing to global economic growth with their GDP dominance which is expected to continue into 2050, aided by the adoption of technologically influenced manufacturing processes.
How?
Syncfab is poised on driving a revolutionary shift from what is commonly attainable in manufacturing by operating a streamlined procurement and supply chain system, promoting ease of conducting business by virtue of connecting buyers and manufacturers directly without recourse for intermediaries. Syncfab is a pioneer of peer-to-peer Industrial Internet of Things (IIoT) with a focus on improving the manufacturing supply chain landscape through blockchain technology in creating and executing contracts otherwise known as “Smart Contracts”. SyncFab is aware that the success of its offering would largely be gained from the level of integrity and transparency the system provides for all agents involved.
Syncfab plans on offering an MFG Utility token as an incentive amongst others, a token from which agents would get value to tasks they already perform in their cause of business but get no compensation for e.g. provision of quotes by suppliers etc. The incentives are multi-dimensional in the sense that they offer value to both
Road Map
The month of August, 2017 ushered in the Conceptual development planning for MFG token, smart manufacturing smart Contract and SyncFab Web 3.0 with a clear goal of fully integrating the token immediately after the MFG token distribution event and completion of a smart contract adapted 3.0 platform by 2019. Syncfab is committed to the long-term success of the platform and the standardization of the smart Manufacturing blockchain. Listening and adjusting to customer feedback is ingrained in syncfabs approach and essential to building a product of high value that will save time or reduce overhead for clients.
If the ETH minimum crowd sale target is met, the MFG token launch will involve:
Creation of the smart contracts to generate and distribute the 1,000,000,000 supply of MFG to the allotment stipulated in the token distribution plan.
Creation of five (5) wallets each will store its individually distributed MFG amounts in the allotment. An encrypted digital wallet stores its encoded MFG or ETH, and can be decoded to validate its actual amount on the ethereum network.
Creation of smart crowd sale smart contract to distribute the MFG tokens in the amount relatie to the ETH contributed from the token distribution sale.
Creation of the ethereum virtual machine (EVM) to secure, execute and validate the previously mentioned smart contracts, future smart contracts, and the transfer and conversion of MFG to ETH, and vice versa on the ethereum network.
Integration of the EVM into the current syncfab 2.0 platform and technology stack.
Technical overview
Current features within syncfab web 2.0 platform connect purchasers to a network of vetted manufacturers for a streamlined procurement process. Users can:
Scan through an expanding database of vetted machine shops, mapped by locality
Search each company’s machine capabilities
Process request-for-quotation (RFQs) ordering & management
Upload and share design files
Enter quality inspection reports
Review order and re-order histories
Communication between buyers and suppliers facilitated by syncfab
Make payments to 3rd parties via stripe integration
Make direct ACH and wire transfer with banks for lower transaction costs
Order product shipment with delivery tracking.
THE MFG Utility Token:
Incentivizing Blockchain Buy-in – SyncFab envisions a vehement and vibrant ecosystem of purchasers, manufacturers, suppliers and logistics service providers involved in active buying, selling and ordering manufacturing-related services within the smart contract blockchain. Initially incentives to join will be in the form of the MFG utility token, which gives value to task those within the supply chain already and those that aren’t currently being compensated, such as suppliers putting together quotes for purchasers. Incentives work for both purchasers and manufacturers as a way to bring them into the Blockchain. The value of buying the MFG token includes:
Buying into syncfabs existing production capacity network
Supporting the continued build-out and evolution of syncfabs smart manufacturing production capacity
Expanding partner network adoption of the MFG, smart manufacturing and smart contract blockchain buildout on syncfab and in the supply chain industry
Incentivizing workers to embrace the technology and be more responsive to buyers requests while compensating them for a critical function.
Competitive analysis
The focus of Pinpointing and correcting company inefficiencies has been achievable due to blockchain and expansion of lloT which has been a growing area for investment for many private companies. These investments have been largely made by conglomerates hoping to capitalize on global demand for manufactured products.
There are limited, direct comparisons to smart MFG techs and syncfabs industry specific MFG token incentive system to facilitate blockchain engagement and build-out on the shop floor or in the factories. As blockchain flourishes, large manufacturers or supply chain companies looking for blockchain solutions will adopt the MFG on their networks or simply use Syncfab smart manufacturing smart contract protocol and/or production capacity network.
Within the competitive landscape, companies are approaching decentralized manufacturing in different ways:
General Electric: Given the technological nature of its business, GE is understandably more focused on identifying inefficiencies within its own systems, and as such, the pace of migration towards smart factories by GE is evidently self-contained and purposed at driving KPIs within GE.
IBM: The Hyperledger as designed by IBM provides a solution targeted at stamping out inefficiencies that may exist for business-to-business exchanges and allowing the easy transfer of documents, designs and contracts albeit mostly by companies that have established a working relationship built on trust.
Google: The optimisation levels of Google’s search engines are generally considered as being efficient especially with paid advertisement which are well targeted through data mining and profile matching. However, there are limitations to the reach of Google’s search engine, results displayed after searches tend to be of suppliers that operate at a certain scale ranging from medium to large whereas suppliers more focused on precision parts machines are mostly ignored.
TEAM
Jeremy Goodwin - CEO
Andy Tong – Chief Strategy Officer
Ali Zain – Blockchain Developer
Ali Rizvi – Blockchain Developer
And many more individuals of high repute.
ADVISORS
Gil Penchina – Crypto Advisor
Mike Jones – Business Advisor
Xiaochun Li – Smart Manufacturing Advisor
Steven Sprague – Technology Advisor
and other intellectuals
FOR MORE INFORMATION ON SyncFab AND THE MFG TOKEN
VISIT THE LINKS BELOW
Website: https://blockchain.syncfab.com
Whitepaper: https://blockchain.syncfab.com/SyncFab_MFG_WP.pdf
Facebook: https://www.facebook.com/syncfab
Twitter: https://twitter.com/syncfab
Telegram: https://t.me/syncfab
Instagram: https://www.instagram.com/syncfab
Bitcoin talk: https://bitcointalk.org/index.php?topic=2286102.0
GitHub: https://github.com/syncfab
Kakaotalk: https://open.kakao.com/o/gRFJjFE
AUTHORED BY: cliffdex
AUTHOR’S BITCOINTALK URL: https://bitcointalk.org/index.php?action=profile;u=1781660
ETHEREUM WALLET ADDRESS: 0x29d1Fff9f61dcB1508454BfF52eAeA0881D81e43