Manufacturing Blockchain® MFG Token to integrate with Binance Chain

Enabling access to multi-asset class digital payments across multi-tier supply chains and cross-chain transaction records

Binance Chain Multi-Asset Cross-Chain Collaboration

Dear Community Members, Smart MFG Tech and SyncFab are happy to announce a collaborative integration with the Binance ecosystem. The Manufacturing Blockchain ® MFG token will integrate with Binance Chain, opening the door for allowing users who choose to swap a portion of MFG ERC-20 Token to Binance Chain’s BEP-2 Token standard during a pre-defined period. Upon migration, the MFG Token will formally submit a proposal to integrate the MFG BEP-2 Token onto Binance’s DEX, a decentralized exchange built on the Binance Chain blockchain. Should the MFG Token gain acceptance, we’ll start a move towards multi-asset diversification and cross-chain transaction records within the blockchain ecosystem. This would allow us to better connect global multi-tiered supply chain industry suppliers into a cohesive digital transformation solution architecture.

Streamlining multi-tier cross-border payments within the supply chain ecosystem

Multi-asset diversification provides a more robust digital payments entry point for the current cross-border multi-currency supply chain payments framework using multiple forms of fiat foreign exchange to meet the needs of global multi-tier supply chain buyers and suppliers. This potential move allows Smart MFG Tech and SyncFab to support the cross-chain transaction record initiative for creating and encouraging a modular manufacturing blockchain hybrid. By adopting this framework to our tokenization method, we aim to expand digital payment options across asset classes to improve accessibility and adoption of the world’s first hardware tokenization process spearheaded by Smart MFG Tech and SyncFab.

MFG — Proposed Binance Decentralized Exchange Integration

Upon proposal acceptance — the Binance DEX integration process will begin and will establish the BEP-2 token standard. At that time, further instructions will be announced how users can directly participate in the migration. In the precursory period we will share instructions on how users can support the integration proposal to gain acceptance.

Multi-Token Framework

Both MFG and MFGB will have support for use on the SyncFab platform. To MFG ERC20 Token holders, the existing wallet remains the same and a migration to BEP-2 is not a requirement but an option. Users who do nothing and don’t participate in the migration will maintain their MFG ERC20 tokens in our official MFG Wallet pending our Wallet upgrade, as well as continue to be active participants in the Manufacturing Blockchain ecosystem and on the SyncFab platform. More news will be released in subsequent updates to cover support for ERC20, BEP2 and NFT for an expanding range of digital asset classes being built into the SyncFab Manufacturing Blockchain ecosystem and the SyncFab platform for the benefit of the manufacturing supply chain industry.

SYNCFAB

SyncFab is a pioneer in supply chain blockchain® technology having created the first manufacturing blockchain® used in commerce for end-to-end OEM parts procurement. SyncFab is partnered with the U.S. Department of Energy’s Clean Energy Smart Manufacturing Initiative and the NTMA. Headed by an accomplished team including the former Blockchain Lead at Airbus and Quality Engineering Lead from General Motors, SyncFab offers a complete, ready-to-go, easily customizable blockchain built specifically for manufacturing supply chain and quality assurance processes. SyncFab in partnership with Smart MFG Tech is also the creator of the world’s first Manufacturing CryptoCurrency — the MFG Token®.

Smart MFG Tech

Smart MFG Tech LTD promotes new technologies and applications for use within the Industrial Manufacturing industry. We aim to be pioneers in the Industrial Internet of Things and work towards helping develop Industry 4.0, creating new commercial incentives broadening blockchain adoption by the industrial manufacturing community.

Binance Chain

Binance Chain, a blockchain software system developed by Binance and the community, is a community-driven project with developers and contributors from all over the world. Binance DEX is the decentralized exchange feature developed on top of the Binance Chain blockchain, setting a new cryptocurrency trading standard for fast and secure peer-to-peer trading.

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