TEMCO – Bitcoin Network Powered Supply Chain Management

Hi guys! Let me discuss something about TEMCO today. Transportation Enterprise Merchandise Customer Organization (TEMCO) is an upcoming supply chain solution from South Korea. The project is rated 4.6 by ICO Bench and 4.4 by Track ICO. It is one of the first blockchain supply chain solutions from Asia.

The problem of supply chain industry
Nowadays, the customers are wanting more information other than basic shipping logs and estimates about their orders. At present, existing supply chain management systems are failing to address problem of monitoring pre-delivery stages. Often the problem gets detected but it is difficult to understand at which stage the problem occurred and how to eliminate the problem. There is a growing demand of transparency all over the world regarding how a business deals with its own supply chain system. Big multinational companies or conglomerates have started to develop their own customized supply chain management systems but often they are not very robust and lack versatility. Small and medium enterprises generally can’t invest in such systems due to high investment requirement and lack of IT infrastructure.

TEMCO’s integrated supply blockchain
TEMCO is a supply chain blockchain system that utilizes smart contracts to overcome the limitations of existing supply chain management systems. The existing system lacks transparency among participants, but TEMCO will connect each and every participant through a blockchain so that every data is recorded in real time and remains auditable. It will build consumer trust regarding the supply chain process and will help the business house to manage the supply chain efficiently.

Suppose there is an outbreak of health hazard in food products such as the toxic insecticides found in eggs. With the help of TEMCO’s technology, both the supplier and consumer may detect the exact location of the poultry firm where it happened. This will be truly revolutionary in terms of food safety! Through TEMCO, consumers can select products that have passed through certain reliable standards.

TEMCO will also drastically reduce the cost of supply chain management as the requirement of IT infrastructure will be less. Small & Medium Enterprises will be benefited tremendously. The only cost of the system will be the cost of smart contract execution without any additional subscription fees.

In a public blockchain, all data is public. TEMCO also provides the private blockchain option to the implementer which helps to hide confidential data from public reach. So there is no risk regarding classified data.
TEMCO is also coming up with a TEMCO marketplace where all suppliers and consumers can participate in trading of safe products passed through proper supply chain process and standards.

Technology of TEMCO
TEMCO combines innovative technologies of smart contracts, blockchain, and big data. Temco will be running on the RSK Network. RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin. RSK provides fast transaction speed, high scalability, low transaction cost and thus makes it ideal for a supply chain platform. Data is uploaded to blockchain using smart contracts and then migrated to big data. It enables businesses to manage precious information properly.

TEMCO token
TEMCO is the utility token of the TEMCO system and are rewarded to the users when they participate in the community. TEMCO tokens will be given to monthly top reviewers, highly rated businesses, and community-voted feedback writers. In the TEMCO marketplace, TEMCO token can be spent.

Important Links of TEMCO
Official Website: https://temco.io/
Whitepaper: https://temco.io/templates/temco_whitepaper_en.pdf
Official Telegram: https://t.me/HITEMCO
Twitter: https://twitter.com/temcolabs

Disclaimer:
The opinions provided in the article are personal opinion of the author. Please judge the project before investing. Investment is a subject matter to market risk.

BTT Username of author: paragismc
ETH address of author: 0xC7964Cf98Eb028aD27855C78B30E2474f920f7E5