SYNCFAB MANUFACTURING BLOCKHAIN (REVIEW ICO)
Syncfab, an abbreviation of Synchronized Fabrication, is a Company committed to supporting local manufacturing through manufacturing of Suply Chain. To follow the growing manufacturing market and to improve the manufacturing process, Syncfab aims to create the first peer-to-peer manufacturing supply chain of its kind in the world.
What if I say that Blockchain can help to Supply Chain Management? this is all about it. Supply chain management is crucial for any manufacturing business. This process can involve webs of suppliers and buyers which cross national and international boundaries. Many manufacturers have already begun to adopt IoT solutions to improve their processes.
Could the space also have an interest in smart contracts. SyncFab was founded in 2013 with the aim of encouraging local manufacturing. The Silicon Valley based business is conducting an initial coin offering (ICO) to fund plans to integrate smart contract technology based on the Ethereum blockchain into their existing supply chain management tool.
This piece is an analysis of the facts available about the SyncFab ICO sale. It should not be read as offering advice or a recommendation. While ICOs have quickly become a very popular tool for funding new projects and start-ups, the ICO can be a speculative venture for any investor since the ICO is closer to a crowdfunding initiative than a traditional IPO. Additionally, ICOs currently have an unclear legal and financial status. Token buyers may find that their purchase does not offer them any security, equity or rights in return for their purchase. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence.
The Project
According to the website, SyncFab is a B2B platform that connects supply chain buyers with manufacturers who meet their requirements. The project aims to decrease costs and increase transparency by helping small to medium sized manufacturers to compete for orders against larger firms. Essentially, it’s a supply chain management tool that will use blockchain technology in a bidding process that matches buyers with suitable manufacturers. The Ethereum blockchain also allows users to agree to smart contracts and make payments.
Uneven business fields.
Syncfab pays attention to the problem of manufacturers who choose to work with large companies, so this will make it difficult for small businesses in general to be considered as customers. In other words, Syncfab looks for small people, allowing them more visibility.
Lack of transparency of procurement.
Today's procurement process can be done with more accessibility. In fact, Syncfab states that 31% of buyers consider manufacturing suppliers to be too difficult. With better visibility, Syncfab hopes to fix this.
Outdated technology.
Syncfab considers the current technologies and processes used in the manufacturing industry too outdated and blames this annual loss in North American business revenue, which adds up to $ 1.5 billion. By improving product procurement and modernizing it, the problem can be fixed.
Lack of IP protection.
39% of businesses have experienced IP violations in the past year. 36% of businesses consider IP protection to be their primary concern. Through their blockchain, Syncfab will provide additional protection against intellectual and creative property.
At the conclusion that Scnfab will provide what it has not been able to do before and provide more effective and efficient performance to do.
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Author By Bangkecol
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