Haylle Sok

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SyncFab Co., a business-to-business procurement and supply chain management platform for precision parts production, has announced it launched a public pre-sale of the ERC20 Ethereum MFG utility tokens in partnership with Smart MFG Tech Ltd.

With no minimum required purchase, the public pre-sale is the first-of-of-its-kind for the general public. Previously, SyncFab offered a private Pre-Sale for qualified hardware innovators and manufacturing industry participants and supporters last month.

A 2017 Deloitte executive survey reported the highest number of industry leaders exploring blockchain solutions for implementation in the manufacturing and supply chain industries. “We expect this trend to continue to lead in blockchain use cases both in number and business feasibility going into 2018 and beyond,” said Hikaru Yuki, Smart MFG Tech director.

“We have received overwhelming support from end users and industry professionals regarding our plan to implement digital tokens to incentivize working class manufacturers to adopt our blockchain solutions,” said Jeremy Goodwin, founder and CEO of SyncFab. “Now with our public pre-sale, we look forward to widening the scale of our offering and boosting utilization rates in small independent machine shops and enhancing cost savings for large industrial buyers.”

Upon initiation, procurement teams in manufacturing companies will be able to utilize the tokens to facilitate incentivized RFQ’s for precision parts procurement from a growing network of CNC machine shops followed with data collection and smart contract execution following subsequent development. Following years of development effort both online and in the field, the public pre-sale marks a significant milestone for SyncFab’s secure platform, which will broker many procurement transactions in a faster and more secure procedure online.

SyncFab was founded in 2013 and is now headquartered in Silicon Valley. The company is a provider of low-cost precision parts production solutions to supply chain buyers and domestic manufacturers.