The degree of our overall industrialization is tremendous to the point that, it had all the earmarks of being hard to express something other than comprehensive explanations. In any case, there are a few shared traits that legitimize the presence of ventures for man's advantage and additionally improving society a place. Be that as it may, concentrating on this solid request clouds a more problematic reality. Hidden difficulties in efficiency, productivity, execution, work, and manageability could wreck the business' development.
As a gathering gave to helping customers inside the modern group satisfy their necessities, SyncFab has consider it fit to change industrialization with her MFG blockchain innovation by tending to the difficulties head-on and reconsidered how business procedures will be balanced for huge development along these lines diminishing the daunting struggle for suitability looked by the two makers through the generation procedure to the clients/last shoppers.
INTRODUCING THE SMART MFG TECH LIMITED
Keen MFG Tech LTD invigorates new innovations and applications for use inside the Industrial Manufacturing industry. A commanding concentration is the advancement of the Smart Manufacturing Blockchain, the MFG Token and its related innovations, and additionally its advancement of advances and applications supporting said blockchain. Savvy MFG Tech will create, appropriate and deal with the MFG Token and will work to include accomplices, for example, private and open organizations, alongside government substances to receive and institutionalize the Smart Manufacturing Blockchain as an arrangement of records for all assembling acquirement inside the mechanical inventory network. For new key associations, Smart MFG Tech LTD will deal with the system administration and general strength of the MFG token biological community and additionally distribute from the accomplice reception pool of MFG tokens, to be given to new clients to source and secure parts creation through the utilization of the Smart Manufacturing Blockchain..
SYNCFAB’S CONTRIBUTION TO THE INDUSTRIAL REVOLUTION
Silicon Valley-based SyncFab targets to hitch technologies and connect with the IoT and the IIoT to provide purchasers and manufacturers with high quality data that would restructure processes along the supply chain.
Linking purchasers with manufacturers in the IIoT through its business-to-business (B2B) SaaS ecosystem, SyncFab generates a public, peer-to-peer ecosystem whereby purchasers can find companies capable of progressive machining of on-demand precision parts production and engage participants passionate about improving efficacies in the supply chain. While the government built the Internet (ARPANET), SyncFab believes the IIoT will be built collaboratively, through public-private partnerships. Such cross-sector partnerships will collect and combine best practices and share wisdom from multiple perspectives.
With SyncFab’s curated and adaptive services, companies attempting to shift their manufacturing processes to high-tech smart factories, and those exploring ways to optimize their “cost-to-serve” process (lowering overhead costs per customer account) can find solutions such as sourcing, tracking and organizing precision parts production and improved procurement systems.
A recent report found that U.S. companies spent an estimated $20 billion in 2012, and are forecasted to spend approximately $500 billion by 2020 on smart technologies.
In the 2016 Forbes’ Manufacturer Outlook, 32% of companies surveyed said their corporate strategy largely relies on integrated technologies via the IIoT.
These forward-looking companies are the customer base for SyncFab’s services. Essential to SyncFab’s Smart Manufacturing Blockchain will be the use of the MFG Utility Token, a first of its kind to incentivize public users to embrace blockchain expertise. Core to the blockchain’s acceptance is a shared sense of trust between purchasers, developers and manufacturers built on a public and more translucent supply chain system, where small to medium-sized manufacturers can access a blockchain and be a supplier in spaces where they are currently obscured.
With the MFG Token’s launch, SyncFab functions as an early adopter, protocol developer and integrator of Smart Contracts into the manufacturing supply chain blockchain. The MFG Token will be utilized firstly on SyncFab, secondly on SyncFab's soon to be developed Smart Manufacturing Smart Contract Ethereum
Blockchain and ultimately adopted by new and emerging partner manufacturing supply chain blockchains using SyncFab's developed blockchain smart contract protocols or their own with the industry's first MFG Token Smart Contract-based incentive mechanism.
The MFG Token will be integrated on the SyncFab platform which has a strong network Launchpad built out from public-private partnerships. Though it’s designed to serve a public, peer-to-peer Smart Manufacturing Blockchain, its utility is designed to be complementary to third party standalone solutions, such as those future supply chain blockchains which are more inward-looking, private enterprise based supply chain blockchains.
SYNCFAB’S PATHWAYS TO DECENTRALIZED MANUFACTURING
SyncFab’s solutions attempt to solve complex problems with five key innovations.
- Re-shaping supply chain management through a public, direct peer-to-peer (P2P) manufacturing ecosystem
- Incentivizing Change in Supply Chain Management
- Smart Manufacturing Blockchain
- Smart Contracts for Transparent Procurement Processing
- Smart Business Model for Decentralized Supply Chain Management
MFG UTILITY TOKEN: INCENTIVIZING BLOCKCHAIN BUY-IN
SyncFab envisages a vibrant bionetwork of purchasers, manufacturers, suppliers and logistics service providers actively buying, selling and ordering manufacturing-related services within the Smart Manufacturing Smart Contract Blockchain. Initially, incentives to join will be in the form of the MFG Utility Token, which give value to tasks those within the supply chain already do and are not currently remunerated for, 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 MFG Token’s value will shadow the value of relevant workers’ hourly wage in accordance with its intended reward audience. So essentially the value of buying the MFG Token includes:
● Buying into SyncFab's existing production capacity network
● Supporting the continued build-out and evolution of SyncFab's smart manufacturing production capacity network
● 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 for which they are taken for granted - RFQs
WHAT INCENTIVES DOES THE MANUFACTURER (BIDDER) HAS?
To lessen the opportunity to generation and drive rivalry, SyncFab wants to utilize MFG Tokens to compensate producers who put speedier offers and value more aggressive (bring down estimated) cites in extent to their statement acknowledgment rates.
Each RFQ made will be recorded as a sale, appended with a MFG Token reward to the makers for their offering endeavors. Comparative in procedure to a one of a kind offer sale, the champ for the most part offers the least offer, yet in addition has the ranges of abilities, capacities and accreditations required to effectively total the work.
A base necessity will be put on all RFQs recorded - a sum to be resolved after the underlying token conveyance. Rates and qualities are liable to change upon future client criticism and engagement. The sums will differ and are reliant on the degree and conveyance of the venture. Included advantages for utilizing the framework, include:● Manufacturers earn compensation for their responsiveness to all RFQs including those from small and mid-sized business buyers.
● Manufacturers see upfront investment by committed purchasers who offer MFG Token bid rewards.
● Manufacturers can focus on production and spend less time in pre-production communication qualifying walk-in customers.
● Hard-to-find small to mid-sized businesses and other less accessible shops will more likely make bids, because of the lowered barrier of entry.
● Manufacturers gain confidence in purchasers who compensate for their effort – whether their bid wins or not.
● Manufacturers increase engagement on SyncFab or partner networks to search and seek out MFG Token bid rewards.
● Manufacturers potentially will be able to submit a portion of cost related to incomplete or flawed orders to be partially compensated by tokens. Currently these substantial cost flaws are covered by the manufacturer or their insurance agents in full.
● Manufacturers who perform exceptionally well receive “tips” from their buyer.
WORKFLOW FOR PURCHASER BIDS ON SMART MANUFACTURING BLOCKCHAIN
- Purchaser creates an RFQ (auction listing).
- Purchaser will submit project budget inclusive of a tolerance amount of how much they’re willing to go over budget. The proposed budget will be visible to the manufacturers, while the tolerance amount will not.
- Purchaser adds the MFG token bid reward amount. A minimum amount of MFG token bid reward will be determined for all RFQ auctions.
- RFQs come in bid packages of three. If the Purchaser wants more bids, they would buy two packages for a total of 6 bids.
- RFQ is sent via Smart Manufacturing Blockchain to multiple manufacturers for bidding.
- Manufacturers review the RFQ and decide to make a bid.
- SyncFab’s system compares bids, automatically rejecting bids above the tolerance amount set by purchaser. Manufacturers will be informed beforehand that any bids exceeding the purchaser’s tolerance will not be included in the three-bid package to the purchaser.
- However, manufacturers whose bid amount exceeds the tolerance will be given the option to revise and re-price their bid only once during the bidding process.
- The Purchaser selects the winner.
WHAT INCENTIVES ARE AVAILABLE FOR THE PURCHASERS?
To decrease the opportunity to generation and drive rivalry, SyncFab wants to utilize MFG Tokens to remunerate makers who put speedier offers and value more focused (bring down evaluated) cites in extent to their statement acknowledgment rates.
Each RFQ made will be recorded as a sale, appended with a MFG Token reward to the makers for their offering endeavors. Comparative in procedure to an exceptional offer sale, the champ typically offers the least offer, yet additionally has the ranges of abilities, capacities and accreditations required to effectively total the work.
A base prerequisite will be set on all RFQs recorded - a sum to be resolved after the underlying token circulation. Rates and qualities are liable to change upon future client criticism and engagement. The sums will change and are subject to the extension and conveyance of the venture. Included advantages for utilizing the framework, include:● Purchasers with time-sensitive projects can expect faster and more quotes from manufacturers if they add MGF token bid rewards.
● Purchasers drive competition among manufacturers who offer reduced lead time, competitive prices and faster quotes.
● Purchasers who make commitments and order faster give and get MFG token incentives from manufacturers.
● Purchasers can use token rewards and values re-circulated into the ecosystem for various incentives such as placing quicker re-orders or rewarding future purchases.
WORKFLOW AND DISTRIBUTION FOR MANUFACTURERS
- Manufacturer designates “X” amount of MFG as a quote reward on top of their bid.
- Purchaser accepts the offer and is rewarded 80% of MFG allocated as the reward.
- The remaining 20% will be reallocated into the community pool.
TRANSACTION FEE
A transaction fee will be added to the final purchase orders amount transacted within the ecosystem. The transaction fee is paid for by the purchasers on top of the quoted price. Said value is to be determined during development. The fee will be distributed between SyncFab, Smart MFG Tech LTD and the Loyalty Pool.
ROADMAP
Conceptual development planning for the MFG Token, the Smart Manufacturing Smart Contract and SyncFab Platform Web 3.0 began in August 2017 with a goal of completing token integration soon after the end of 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 SyncFab’s approach and essential to building a product of high value that will save time or reduce overhead for clients.
If the ETH minimum crowdsale target is met the MFG Token launch will involve:
● Creation of the smart contracts to gene999999rate 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 a crowdsale smart contract to distribute the MFG tokens in the amount relative 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.
MILESTONES
*The roadmap is subject to changes during development and regulations affecting blockchain technology and utility token economics. Dependent on the soft cap raised during the initial token issuance to early adopters and any regulatory changes to the utility token economies, the roadmap is subject to re-prioritization due to unforeseen circumstances or complications during development stages or through customer feedback of real life use cases.
Milestone 1 - Q1 2018 MFG Token Generation Event and Distribution
February 15 - Token Generation and March 30 - April 15 MFG Token Distribution. (If 500K ETH/500 USD Minimum is met)
Milestone 2 - Q2 2018 MFG Token Acceptance Integration
Integration of the MFG token for acceptance into existing SyncFab RFQ Web 2.0 Sourcing (Pre-Blockchain) platform. Ongoing Exploratory discussions with partner manufacturing supply chain networks for MFG token acceptance and integration for dedicated and inter-industry protocol blockchains and smart contracts.
Milestone 3 - Q3 2018 Format Ethereum Blockchain Smart Contracts for Purchasers
Amend Ethereum Smart Contract conditions for Supply Chain Purchaser Requirements (If 15K ETH/15M USD Soft Cap is met)
Milestone 4 - Q4 2018 Format Ethereum Blockchain Smart Contracts for Suppliers
Amend Ethereum Smart Contract conditions for existing Machine Shop Capabilities
Milestone 5 - Q1 2019 Implement MFG Ethereum Supply Chain Blockchain Smart Contract
Implement Purchaser-Supplier MFG tailored Ethereum Smart Contract on SyncFab Platform
Milestone 6 - Q2 2019 Survey Machine Shop Upgrade Requirements
Survey machine shop upgrades to meet more Supply Chain Purchaser automated requirements on end-to-end Blockchain Smart Contract (If 33K ETH/30M USD Hard Cap is reached)
MFG TOKEN DISTRIBUTION LAUNCH
Smart MFG Tech’s MFG Token Distribution Event in partnership with SyncFab provides opportunities for those who want to see manufacturing revolutionized by a public, peer-to-peer ecosystem and blockchain. The MFG Tokens will incentivize innovators and manufacturers to connect and create.
TOKEN DISTRIBUTION EVENT
- Token Name: Smart Manufacturing Token
- Token Symbol: MFG
- Total Supply: 1,000,000,000 MFG
- Allocated market (public) supply: 300,000,000 MFG (30%)
- Pre-Sale Start Date: November 15, 2017
- Pre-Sale will conclude when allocation is deemed exhausted or on February 15, 2018.
- Main Public Sale Date: February 15, 2018
- We will be accepting ether (ETH) as the form of payment.
- 1 ETH = 5,000 MFG
- Minimum Goal: 500K ETH (500 USD)
- Soft Cap: 15K ETH (15M USD)
- Hard Cap: 33K ETH (30M USD)
- Any unsold MFG allocated to the public market supply will be destroyed after the distribution event.
BONUS INCENTIVES
- Industrial Revolutionary Private Presale
- Hardware Innovators Exclusive Presale
- Public Presale
- Main Public Sale
TOKEN DISTRIBUTION PLAN - Prior to the token distribution event, Smart MFG Tech LTD will generate a supply of one billion (1,000,000,000) MFG tokens.
- A total of three hundred million (300,000,000) MFG will be offered to the public (current SyncFab users and the Smart Manufacturing Blockchain early adopters).
- Each MFG wallet account will store MFG tokens on the blockchain to the unit of 18 decimal places - the smallest unit of an MFG token being 0.000000000000000001 MFG.
- The distribution Smart Contract does not permit any new tokens to be created or destroyed after the token distribution event. At the conclusion of the distribution event, the token distribution Smart Contract will destroy any MFG publically-allocated tokens which are not sold at the close of the event.
- There will be no inflating of the MFG.
- The total supply of MFG is dependent on how many MFG’s are sold during the distribution event; the final supply has yet to be determined.
MEET THE TEAM
Hikaru Yuki - Executive Director
Jason Tong - General Manager
SYNCFAB TEAM
Jeremy Goodwin - Chief Executive Officer
Andy Tong - Chief Strategy Officer
Jay Ligda - Chief Technology Officer
Dennis Delgado - Chief Design Officer
Victor Nguyen - VP Product & Operations
Ben Gerstein - VP Marketing
Sharon Wang - UX Designer
Ali Zain - Blockchain Developer
Yasir Iqbal - Blockchain Developer
Ali Rizvi - Blockchain Developer
ADVISORY BOARD
Mike Jones - Science Inc. , Dollar Shave Club, MySpace
Gil Penchina - Ridge Ventures, Paypal, Ebay
Jeff Berwick - CEO of The Dollar Vigilante
Simon Cocking - Senior Editor, Irish Tech News
Peter Moricz - CEO of Moricz.io
Steve Sprague - CEO of Rivetz Corp.
Professor Xiaochun Li - UCLA Raytheon Chair of Manufacturing, CTO of CA CESMII
Mark Crone - CLG LAW
Michael Wong - MUFG
Chris Cheng – Apple
KNOW MORE ABOUT SyncFab AND THE MFG TOKEN VIA
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: Hero2spin
AUTHOR’S BITCOINTALK URL: https://bitcointalk.org/index.php?action=profile;u=1840207;sa=summary
ETHEREUM WALLET ADDRESS: 0x57256Fd23E45aF50d429880742D844C142AbB9Fa