The primary mission of SyncFab Manufacturing Blockchain project is to revolutionize the manufacturing supply chain by connecting buyers directly to hardware manufacturers through blockchain. To make this happen, in 2013, SyncFab created an industry first online design-to-manufacture interactive supply chain ecosystem, partnering with academics, entrepreneurs, designers, engineers and materials suppliers within the local industry. In 2016, SyncFab was recreated as a way to answer an economic development challenge granted by San Leandro City as part of a Startup-in-Residence Program.
SyncFab is known as decentralized hardware manufacturing, which aims to harness the opportunities provided by blockchain technology, connected with Industrial Internet of Things (IIoT), allowing buyers to connect directly to hardware manufacturers through a smart contract. Through the Smart Manufacturing Blockchain, purchasers and manufacturers will be able to streamline the procurement and supply chain processes, protect intellectual properties, source and track parts of production in real time and on-demand. SyncFab connects purchasers with manufacturers in the IIoT, thanks to its B2B- SaaS ecosystem. SyncFab believes the IIoT will be built collaboratively, through public-private partnerships, this can be compared with the government’s internet known as ARPANET. Such cross-sector alliances will collect and combine best practices and share wisdom from multiple perspectives.
SyncFab provides an interactive cloud-based portal where inventors, innovators and designers may enter a growing network of certified machine shops and advanced manufacturing facilities are being mapped by several criteria. Thanks to SyncFab’s curated and adaptive services, companies who attempt to shift their manufacturing processes to high-tech smart factories, and those exploring ways to optimise their “cost-to-serve” process can find solutions such as sourcing, tracking and organising precision parts production and improved procurement systems.
According to recent reports, U.S. companies spent an estimated $20 billion in 2012, and are forecasted to spend approximately $500 billion by 2020 on smart technologies. One essential part of SyncFab’s Smart Manufacturing Blockchain will be the use of the MFG Utility Token, a first of its kind to incentivise community users to embrace blockchain technology. Its shared sense of trust between purchasers, developers and manufacturers is core to the blockchain adoption. SyncFab acts as a new adopter or protocol developer and integrator of Smart Contracts into the industrial supply chain thanks to the MFG Token’s launch.
Get your own token here – https://tokensale.syncfab.com/