An Established Technology Company Uses Blockchain to Break Down Entry Barriers for Manufacturing Companies and Their Manufacturers buyers, with a new platform Revolution 4.0. "

SyncFab, which was launched five years ago in Silicon Valley, collaborates with the US Department of Energy's Clean Energy Manufacturing Innovation Initiative. the energy and cities of San Leandro, San Francisco and Oakland.The team believes that smart technology will help small manufacturers with minimal marketing budgets struggling to get free exposure on the search engines, allowing them to bid for more contracts and showcasing their capabilities

have a greater chance of finding a supplier that is local to them.Expenditure also plummets because the procurement process, where inefficient brokers, agents and software cost time and money, is streamlined dramatically SyncFab argues that local supply reduces the minimum number of parts that a buyer needs to engage while creating a more responsible and eco-conscious supply chain at the same time.

At the heart of this Blockchain Smart Manufacturing is the MFG Token, a utility token that also serves as a means of payment and reward mechanism for manufacturers who quickly participate in auctions, offers competitive pricing and maintains competitive prices. production records on the Blockchain.

Benefits for Buyers

SyncFab Targets Future-oriented Companies Who Want to Reduce Overhead Costs and Invest in Smart Technologies Within the Industrial Internet of Things (IoT).

Although hundreds of millions of dollars have been invested in modernization, spending has mostly been limited to large multinational corporations and, until now, small businesses may be falling behind. According to consulting firm McKinsey, the industry is expected to reach a value of $ 4 billion by 2025.

The SyncFab platform aims to help buyers of all sizes to reduce their costs. Supply, as their request for quotation) would be paired with manufacturers who possess the technical expertise, the machines and the ability to manufacture their product. This is achieved by comparing the buyer's product criteria with historical orders and past product designs of potential candidates. The company believes that Blockchain also paves the way for greater transparency, allowing real-time changes in product specifications and hardware requirements to be communicated in real time, eliminating costly errors and delays.

SyncFab's white paper quotes Deloitte's report on cyber risks. in which the leaders said that the biggest threat to their business is the theft of intellectual property. The technology company believes that its platform can allay these fears by encrypting these assets on the Blockchain using the best security protocols, providing protection for users who do not have a budget for cybersecurity personnel

In addition to MFG token rewards for quick auctions, SyncFab says its platform will allow manufacturers to focus on what they do best: production. They receive initial investment from buyers after the successful bids and spend less time reviewing their clients before starting a project.

SyncFab auction listings include details on the buyer's budget. advice to the manufacturer. Sometimes the buyer will also add a "tolerance amount" to indicate what he would be willing to pay beyond. Although bidders would be automatically excluded from a race if their quote was too high, SyncFab gives manufacturers the opportunity to review such offers, which facilitates understanding of limits, seeking compromise and dealing with a customer. potential. ] Current Token Sale

The sale of MFG Tokens by SyncFab is scheduled to run until March 15, 2018. Those who purchase the MFG by March 11 will be eligible for a five per cent bonus, depending on the company.

SyncFab has successfully reached its soft limit of 15,000 ETH and has a limit of 33,000 ETH for its symbolic sale. If this is achieved, additional deliverables in the future will include a live data feed for manufacturing vendors, allowing updates on the progress of an order to be sent to buyers in the future. real time via the Blockchain.