SyncFab: Using Blockchain to Transform Hardware Manufacturing – Part 2: Syncfab Solutions

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In case you missed the first part of this serie where I introduced the syncfab project and the problems it is created to solve. Here is the link to the part 1

Syncfab Solutions

In this part I will be discussing the solution syncfab has brought to the manufacturing process and the benefits both the innovators and manufacturers will enjoy.
Syncfab will come up with the ideal solution to the current problem stakeholders’ face in the supply chain.
  1. Syncfab Will Restructure the Management of the Supply Chain by Creating a Direct Peer To Peer Ecosystem. In this ecosystem there will be a direct link between the innovators, manufacturers and suppliers. This peer to peer ecosystem will lead to a decentralized supply chain management environment where manufacturers, suppliers and innovators will have power over success and delivery of their products. With the use of smart contracts that regulates the activities of the ecosystem, there will be transparency, more accessibility which increases the profitability of participants in the supply chain.
  2. With the use of a smart manufacturing blockchain, SyncFab will be able to link purchasers with the appropriate manufacturers. The smart manufacturing blockchain will compare the manufacturer machine capacity, previous orders and order history with the purchaser's product specification and then link the purchaser with the appropriate manufacturer eliminating the need for a broker.
  3. SyncFab will create a MFG utility token that will play a crucial role in the creation of an online value sharing platform within the decentralized manufacturing ecosystem. The MFG utility token will be used to compensate manufacturers for the time spent putting quotes together and also make them more responsive to time sensitive production deadline.
The manufacturers and innovators will benefit from SyncFab in a lot of ways:
  • By eliminating the need for a middleman, purchasers are able to get frugal and high quality quotation from manufacturers.
  • Through the adoption of smart contracts, innovators enjoy secure transactions and communication with the manufacturers.
  • Buyers have a direct connection with the manufacturing facility. This will reduce the cost the manufacturers spend on marketing and advertisements.
  • Manufacturers are guaranteed payments. Through the use of smart contracts there is elimination of human factor in the payment process.
In the next part I will be discussing the ICO and token structure.

SyncFab Official Contacts:

Official website https://blockchain.syncfab.com/ 
Telegram community https://t.me/syncfab 

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