SyncFab works by connecting hardware manufacturers to buyers in a decentralized and effective manner. Through the use of Ethereum’s blockchain network, manufacturers and buyers can streamline the supply chain process,
SyncFab was started in 2013 and created an online buyer-to-manufacturer process that sends the requests through a manufacturer that’s equal to the buyer’s requirements. With SyncFab, it eliminates the need for middlemen, wasted hours on labor issues due to miscommunication.
In this review, we’ll show you how SyncFab is great for the supply chain industry. Not only does it help both buyers and sellers increase their overall efficiency without having to wait an extensive amount of time like traditional supply networks.
How Does SyncFab Work?
SyncFabs customers are from the Northern California area. The project collaborates with municipal and national authorities and forms public-private partnerships to advance economic development and civic innovation.
It’s main currency, the MFG Token, is used to reward manufacturers and purchasers, protect their intellectual properties, make payments, and promote transparency and trust through the use of smart contracts on its blockchain.
MFG Token is a utility token that’s used to create a secure payment when using SyncFab’s network. The user can create unique bid auctions that reward manufacturers for faster quotes. The buyers can receive MFG token as an incentive for recurring reorders.
Here are the certain benefits that SyncFab provides for its buyers
- High-quality quotes from manufacturers
- Smart contracts guarantee payments
- Complete control over capabilities and pricing
- Fewer issues of overheads and extensive processes which helps manufacturers make the best quality products.
- On-demand tracking, reordering, and purchasing
Token Sale Information:
- Tokens Available: 300,000
- Max Token Supply: 1,000,000,000
- January 1, 2018 – March 15, 2018
- 1 ETH = 5,000 MFG
- Pre ICO Sale: November 15th, 2017 – February 15th, 2018
- Website: https://tokensale.syncfab.com/#
- Whitepaper: https://blockchain.syncfab.com/SyncFab_MFG_WP.pdf
Disclaimer: For our readers, we are only giving out informational content. We are not investment advisors and expect you to invest at your own risk.
- Dedicated Team: With over 10 members, SyncFab has a team filled with individuals who are passionate about the project’s future development.
- Silicon Valley Project: Since its developed in one of the most prevalent tech locations in the world, SyncFab is a reliable ICO that’s backed by high-end technology.
- IoT and Blockchain: SyncFab infuses both forms of technology to create a decentralized platform where both buyer and manufacturer can benefit from working with each other anonymously.
- Worldwide Reception: While SyncFab was founded in the US, we wonder how it’s going to expand to countries within the European and Asian regions.
- Lack of Milestones: SyncFab doesn’t display its milestones on its website, making it hard for new users to notice the long-term appeal of it.
- Dispute Resolution: Even though it has smart contracts for payments, how does SyncFab assist in resolving conflicts between manufacturers and buyers?
For users wanting a better way to obtain goods from manufacturers, SyncFab might be a great option. Not only does it’s network create faster orders, but also MFG tokens are used to reward both buyers and sellers. It’s an ICO that will take time, but it might show some promise once its products are fully released.