SyncFab CEO: Blockchain Can Revolutionize the Supply Chain

The blockchain is said to be this decade’s “new internet”. Its aim is to solve new world problems thus creating a more efficient and innovative way of living, just like how the internet redo the 90s. The blockchain is not just effective in the financial sector but also in other industries like manufacturing and supply.

Mr. Jeremy Goodwin, Founder and CEO of SyncFab shares how his company can help ease the manufacturing sector.

Blockchain and Manufacturing

In an interview with ANC Morning News, Mr. Goodwin gave a good analogy on how the blockchain can revolutionize the manufacturing industry.

Think of it like having a big supply chain like Mitsubishi Motors. Some products, for example, an airbag for the steering wheel, has a recall. This recalled airbag has to go through an extensive testing that has back up documentation, which a lot of people can access. Usually, these files are kept inside file cabinets or cloud-based storage systems. The cloud-based storage systems are initially good but they can easily be hacked for only using a firewall. To keep it secure, you need to install the latest version.

Using the blockchain in exchange for that technology can provide one of the most secure ways to store the documents. It is also accessible to authorized people all over the globe.

What is SyncFab

SyncFab’s aim is to connect buyers to hardware manufacturers worldwide by using the blockchain. With a direct contact with manufacturers, it aims to cut intermediaries and brokers to lessen the cost to buyers. Aside from the buyers, manufacturers can also save money by eliminating their marketing costs as the buyers can now work with them directly.

SyncFab MFG Token

The company recently concluded its public pre-sale that gives buyers 25% more MFG. 1 ETH = 6,250 MFG and there is also no minimum amount.

You can check the status of their ICO here: https://tokensale.syncfab.com/