Before we talk deeply into what the TEMCO PROJECT is, let's know some certain things about the technology its using and the criteria in commerce its trying to improve. TEMCO project simply put, is the implementation of BLOCKCHAIN TECHNOLOGY and INTERNET OF THINGS(IOT) to tackle hindrance and disturbing challenges of the Existing Supply chain management system! You might been wondering what is a supply chain management system and how it works,let make a quick review on it.
Supply chain management includes the co-ordinations and collaboration between partners which can be suppliers, intermediaries, third party service providers and consumers. Supply Chain management system integrates supply and demand management within companies to met the needs of the final consumer. Information and materials is been managed in the supply chain to enhance high degree of customer trust.
Consumers has little knowledge of the product they assume daily because of the transfer process and lack of connectivity with the manufacturers. This has given rise to trust issues emerging from the end consumers whether the product is in good shape or not. Trust is a critical factor and this has been one of the unresolved hindrances encountered by today's supply chain management system. Today's supply chains and the technology can no longer support recent production and supply cycles of products,which have turned to be very disconnected,complicated and scattered in different areas across earth.
With the aid of Blockchain technology, the role of trust and information sharing can be improved,thus strengthening traceability in disconnected supply chains. The blockchain technology as been recorded was invented by Satoshi nakamoto to support the parent Cryptocurrency Bitcoin. Blockchain technology made it possible for many users to exchange values with each other over the internet without the need of a middleman to verify the transaction. Anyone participating in a blockchain can review inputs in it and update it through a process called Consensus. Once data are made into the blockchain,information can never be destroyed.
If Blockchain allows us to securely and transparently track all types of transactions,imagine the possibilities it presents across the supply chain.Every time a product changes,the transaction could be documented,creating a permanent history of a product,from manufacturer to sale. This will dramatically reduce time delays, added costs and human error that plague transactions today.
WHAT IS TEMCO?
As mentioned earlier, TEMCO(the Transportation Enterprise Merchandise Customer Organization) is the use of advanced Blockchain technology and IoT to solve problems existing supply chain management system faces. Temco aims of building their own supply chain platform which will be built on the RSK bitcoin network.
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AIMS OF THE TEMCO PROJECT
A) Temco aims to to build a smart-contract enabled supply chain system to eradicate common problems faced by the recent supply chain system.
B) Temco also aims to link all participants in their supply chain ecosystem so that Pre-delivery levels can be held at the appropriate time.
C) Temco aims to give End consumers products that has passed through standards set in the Temco supply chain management.
D) Temco aims to offer all participants Big Data Analytics by connecting them in a single platform therefore, reducing cost for all participants.
E) The Temco platform when developed will be able to do a complete breakdown of distribution history right from the start to the end therefore identifying defaulters when issues occur.
F) Temco tends to utilize the basic merit of a private and public blockchain, in terms of acting as a private blockchain, information are only exposed on the platform at private users discretion only and as public Blockchain by making supply chain information open to all participants at all times.
PROBLEMS IN CURRENT SUPPLY CHAIN MANAGEMENT
The upmost problem faced by current supply chain management is that information are disconnected because of No or poor supply chain ICT (information and communication technology) infrastructure. Like been quoted by many society and business influencers "Information is power" and final consumers feels they are been deprived of that right by having no or less details and data of the product they consume daily.
I bought a Samsung smart phone from Ali express and the information on the product was clearly stated with a return policy. It took the product 7days to get to my country and to me also which exceeded the 5days ultimatum I was given and while I checked the product, 80% of the product information was false and I was left to condemn the product.
In this scenario, information was fragmented and my trust depleted to the lowest towards the distributors(Ali express). This one of the problem of the existing supply chain management system and with the TEMCO supply chain system, these problems will be eradicated, let's look at how Temco tends to solve these problems.
TEMCO INTEGRATED SOLUTIONS FOR CURRENT SUPPLY CHAIN PROBLEMS
Now we know the major challenges facing the existing supply chain management, TEMCO tends to use innovative technology like Big data,smart contract and Blockchain to eradicate these problems. It ensures Precise supply chain information stored in the blockchain when a product is moved through smart contract.
In existing supply chain system, little or no communication occurs between the manufacturers, distributors and the end consumer therefore making information unavailable and difficult to get. TEMCO tends to close the barrier by connecting all participants to a single platform where they can get access to open supply chain information, this move tends to increase trust of all participants especially the final consumer. Concealed data are easy to identity and therefore are distributed to all users.
The TEMCO project seeks to enhance high performance by provide small and medium-sized enterprise with an open platform for supply chain management innovations with low infrastructure investment. Therefore increasing efficiency and productivity by utilizing supply chain information. Temco platform also distribute and share supply chain information stored on the p2p blockchain network to all parties (manufacturers, distributors, final consumers e.t.c) which are verified through unspecified nodes in the system therefore increasing the transparency and stability of supply chain information. As well known, information stored on a smart contract cannot be altered or reinvented by anyone making it very transparency and this is what the TEMCO project tends to ascertain.
Supply chain information can be made transparent but if not made reliable, consumers tends to disagree whether the product they are consuming are from the right source. Temco aims to made supply chain information by setting up a verification program which follows the correct transport guidelines to verify all participants (except the final consumer). Information like product location, distribution agent, distribution environment can be taken without loss or alteration by linking the transfer process between participants(remember it doesn't include the final consumer) to a smart contract based authentication system. These two process of verification and linking transfer process of participants helps to obtain reliable information to boost consumers confidence
WHAT IS THE ADVANTAGE OF USING THE TEMCO PLATFROM?
Of recent, some Blockchain projects tends to solve the supply chain system challenges therefore creating competition,let's look TEMCO advantage over existing technology used to eradicate and why enteprise should adopt the supply chain system;
A) TEMCO only allows verified businesses using the Vendor Verification System(VVS).
B) With the use of the business intelligence tool, information are been moderated and are envisioned for decison-making,thus bringing up new business ideas and opportunities.
C) The temco platform proposes to include a Marketplace where everything information in the supply chain can be accessible.
D) As discussed in the solution to challenges faces by existing supply chain system, by linking the smart contract to the transfer process of all participants, information are been verified which boost the efficiency level in most business and also reduces cost.
E) Making reviews of products has been helpful to end consumers,quality of a product is been determined through rating. Using the Temco Blockchain, all reviews will be verified to ensure that reliable information are been shared to the consumer.
REVIEW OF THE TEMCO TECHNICAL STRUCTURE
All Blockchain technology has its own unique structure which enhances most functionalities in the blockchain. In the TEMCO Blockchain technology, three levels makes up the technical structure, it's as follows -
A) Core level - when data is been added to the blockchain from the back-end layer(blockchain, big data and analytics).
B) Service level - when data is been recovered via the core level in form of API from the middle layer.
C) Application level - when data is been displayed at the UI LEVEL.
Additional information on these level can be seen in the WHITEPAPER
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TOKEN MODEL
The TEMCO token model involves the TEMCO Token and TEMCO Point. TEMCO token is been created and been used for transactions(smart contract execution fee,market platform transaction commission, e.t.c) on the TEMCO platform. It can also be traded for other Cryptocurrencies on exchanges.
On the other hand is the TEMCO point which is been rewarded to users for meaningful contributions to the platform. Vendors and consumers earn points by uploading useful supply chain information and other doing other activities. points are calculated with the use of an algorithm.
TOKEN STAKING MODEL
Participants can also staking their tokens and receive extra reward compared to those who doesn't, staking helps to promote the platform ecosystem and also helps to improve the token valuation. By staking,you can complete participation rights in all contributions programs in the platform and of course also receive rewards for staking.
Why you should stake as a Vendor,Seller?
By staking, you will have discount on BI services and more points for answering to buyers questions about the product you are offering.
You have exclusive bidding rights for premier sales sections leading to high efficiency.
Why should you stake as a platform participant?
You will receive rewards for scanning products and uploading the information gotten to the blockchain when bought by enterprises. You can also receive TEMCO points for writing reviews and making enquiries about the products purchased depending on the quality and contribution level. By also reporting fake goods, you can be rewarded if the authenticity rate of the information is 75%+. You also get TEMCO points for a meaningful discussion(asking questions and also answering questions raised up by another user.
WHAT ARE THE TEMCO PLATFORM USECASES
TEMCO in partnership with Nenia,BLUESIS and Balky tends to enhance effective management of data and increasing end consumers trust and confidence in the quality of the product they consume
BLUESIS enhances effective information management in tertiary institutions by comply with their regulation agency inspections for,non-Gmo trade.
Nenia has its supply chain integrated in the temco platform that will enhance reliable transfer process of food items,thus boosting consumers confidence. you can read more additional information Here.
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Balky tends to share reliable supply chain information involved the health sector, doctors and consumers can have access to credible and transparent info on the medicine they prescribe and consume respectively.
TOKEN SALE OVERVIEW
Total token amount - 6,000,000,000 TEMCO.
Total Token amount to be sold out - 3,000,000,000 TEMCO.
Softcap - No softcap
Hardcap - 19,000,000$.
Token price - 0.006333 USD per TEMCO.
Means of payment in the crowdsale - Ethereum,Bitcoin.
Whitelist - Ongoing.
presale - TBD.
ICO date - crowdsale on the 24th December 2018
TOKEN AND FUND ALLOCATION
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ROADMAP
The roadmap is subjected to change
TEAM
ADVISORS
MY INFERENCE
Having known of the blockchain technology in 2015, I will say the TEMCO project is top-notch, the white paper shows a lot of advanced technologies and mechanised in achieving their goals. With the Team wide partnerships and backups, their success rate is very high and the supply chain system will be improved with the TEMCO project. The team is based with south Korea which the government has welcomed most Blockchain startup which adds to an advantage TEMCO has to succeed,a location without no major restrictions and laws towards the blockchain technology and Cryptocurrency. The hype on Temco is on its advanced innovative technologies and I want to say this will be a game changer in the supply chain management and I encourage everyone to participate in their upcoming crowdsale
WEBISTE : https://temco.io
WHITEPAPER : https://docsend.com/view/eiawynp
FACEBOOK : https://www.facebook.com/TEMCOLABS/
MEDIUM : https://medium.com/temcolabs
REDDIT : https://www.reddit.com/r/temcolabs/
BITCOINTALK : https://bitcointalk.org/index.php?topic=5027072.0
TELEGRAM : https://t.me/TEMCOLABS
TWITTER : https://twitter.com/TEMCOLABS