Site: https://blockchain.syncfab.com/
Token / Coin: MFG – ERC20
Supply: 1 Billion (30% for ICO)
Crowdsale date: Presale Nov15 – Feb15 - 25% bonus / Public sale Feb15 - 0% bonus
ICO Breakdown: 50% software dev, 15% marketing/bus dev, 15% admin/operational, 5% legal, 5% reserve, 10% business long term stability.
Hardcap : $30,000,000 USD – 33K ETH ( 1 ETH = 5000 MFG ) (unsold tokens will be burned)
Excluded countries: Iran, North Korea, Syria, Sudan, Cuba, Crimea, Yemen.
Telegram: https://t.me/syncfab (7.5k members)
Twitter: https://twitter.com/syncfab/ (6k followers)
Reddit: https://www.reddit.com/r/syncfab/
Whitepaper: https://blockchain.syncfab.com/SyncFab_MFG_WP.pdf
Intro Video:
What is SyncFab?
SyncFab is a company that started in 2013 located in San Leandro California. They already have a working business model which is to connect hardware buyers to hardware manufacturer supply chain businesses. Using their platform you can request for special made precision hardware that will be manufactured much quicker with better quality rather than dealing with overseas sellers. China handles most of the words manufacturing however when dealing business with them it may take a long time and problems such as language barriers, lack of trust and quality can occur.
In long term SyncFab can be an answer to making America great again by connecting local businesses, saving them money on marketing/brokers and by directly allowing the public to source from within the country.
Using blockchain technology it will allow the tracking process of the product to be in real time eg shipping updates. This will save business emailing back and forth wasting precious time on both sides.
You can sign up as a buyer – provide details of what you want to get manufactured providing requirements of budget and time-frame. You can purchase packages to increase your bid amounts from manufacturers. Manufacturers bid and the buyer selects the winner.
Token:
The MFG tokens can be used to make payments, provide discounts on quoted prices, protect intellectual properties and used to get faster quotes.
They will award MFG tokens to manufacturers who place faster bids and prices that are more competitive. This will allow for small businesses to join the bidding process giving them more business opportunities.
They will have a system that rewards MFG tokens to successful and unsuccessful qualified bidders which is great because it will increases platform interaction and promotes business to always seek for opportunities to get more work.
The busy they get the more tokens are used on the platform. Example could be a special part Tesla requires for all their cars so its a super big project with multiple execution using smart contracts meaning more tokens are used to do it.
IOT will be huge in the coming years so a lot of special parts will have to be made quickly and locally for new companies coming into the space with devices to cars, planes and smart cities.
Partnerships:
They have established very strong partnerships at the State and Federal level. They were added to the Clean Energy Smart manufacturing Innovation Institute by the White House and Department of Energy.
Team / Advisors
The team has been in the market for a few years already but show great experience in marketing.
Very good advisor team, they are very experienced in their fields ranging from business, finance, security and software. Some of the big names on their resumes are Ebay, Paypal Dollar Vigilante, JP morgan, MUFG, Apple and Disney.
Roadmap
It looks like the platform wont be ready till 2019. However I think that it shouldn't be a big problem. They can form multiple partnerships with goverments and big / small companies.
Extra
PROS:
- Gives opportunity to entrepreneurs and business to get into the industry finding manufacturers.
- Strong partnerships and advisors.
CONS:
- Competitions like Alibaba, IBM and Google but its good that they mentioned these competitors in their whitepaper showing that they are aware of the market.
- 30M for only 30% of tokens.
Overall rating: 7.5 / 10
I like this project. It has good long term potential due to its partnerships with councils and being part of a bigger initiative. I like the idea of making it easier for people to find and source manufacturing hardware at a local level. Overseas may be cheaper but when it comes to time it may take up heaps with quality that isn’t the best. The token incentive will boost more businesses to be competitive and always searching for customers which is great.
Will I participate in the Whitelist? Yes there is still heaps of LONG TERM potential with them :P
Allocation Ratio : 3/5
Thank you for your time. If you have any questions or feedback please let me know. :)
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Disclaimer:
Invest at your own risk. This is my opinion and is not financial advice. Always make sure you do your own research and invest what you can afford to lose.
Donation Address
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