So you’ve come up with a brilliant product idea, you’ve done your homework, and your targeted crowds would love to have your new device on the table, right! Next, you must find a manufacturer that will produce your product. It’s no secret that most manufacturing businesses have moved to countries like China for easy to understand reasons like cost reduction, cheap labor and fast delivery times.
But it’s not like you can just go and ask for someone to build your product, to actually get there you must contact costly intermediaries that really bump up your overall price. Not to mention that along the way, the process is less than transparent just hoping that you get what you pay for. With the help of breakthrough technology like Blockchain, however, this entire process can change once and for all, ushering in the new age of manufacturing!
The Syncfab Network: Decentralized Manufacturing
Established back in 2013, Syncfab created an online marketplace where buyers can meet manufactures through a platform that centralizes all orders and sends direct requests to productions that are true to the buyer’s initial orders and requirements. By eliminating the intermediaries with the help of blockchain technology the procurement processes will be immensely streamlined and also removing any miscommunication that might lead to manufacturing delays or production disasters.
The Syncfab ecosystem is the first decentralized manufacturing supply chain that’s based on a token economic system adapted for public and private networks alike. By connecting buyers directly with the hardware manufactures, Syncfab will cut the production costs significantly. With a trustless decentralized system, there is no need for middlemen anymore as the blockchain infrastructure guarantees the manufacturing process with the help of Smart Contracts. With the help of these contracts, companies will be able to protect their intellectual properties and even track the production in real time.
The MFG token
Based on the modern ERC20 infrastructure, the MFG token is a utility cryptocurrency used to reward buyers and manufacturers alike. It could be used for some of the following aspects:
- Make payments on the ecosystem
- Protect intellectual properties
- Promote transparency and trust
- Incentivise large-scale production
Buyers will benefit significantly from using the MFG token as they will get cheaper and higher quality price quotes directly from the source. Having an intuitive UX, companies will be able to buy, track and reorder manufactured goods using the Syncfab ecosystem. Manufactures will greatly benefit from the platform by eliminating any unnecessary marketing costs as Syncfab will have a reputation system that’s transparent and visible to all the users of the platform.
Total supply of 1 billion MFG tokens has been created. Out of this 30 % will be allocated towards the public market, and another 30% is reserved for the strategic partnership adoption pool. 10% goes to the founders and advisors, and the remaining 30% will be allocated towards research and development efforts. For 1 ETH you get 5000 MFG tokens, roughly 0.20$ per token. Join now the industrial revolution at https://blockchain.syncfab.com/, Telegram, ANN Thread, BOUNTY Thread