This is my overview of SyncFab ICO. Found this a couple of weeks ago and caught my attention due to two major factors: a working product, a future proof project.
Manufacturing supply chain that eliminates intermediaries and brokers to lower cost and increase your revenue. Directly connects you to the hardware manufacturers and provide effortless production tracking.
Dealing with precision parts used in large industrial aircrafts, medical field, robotics and any high end equipment that requires computerized manufacturing.
Offers Real time tracking of your products and lowers the cost of production.
Creates through smart contract direct access between purchasers and manufactures
PAIN:
• Removing the middle man/intermediaries(agents, brokers) from manufacturing facilities.
PRO’S:
- Has a working product: Company was founded in 2013.
• They have an up and working site. - Partnerships Public & Private:
• Amazix
• Kickico
• ICO Watchdog
• Clean energy SMART Manufacturing Innovation institute
• Stir
• Mayor’s Office of Civic Innovation
• City of San Leandro CA Chamber of Commerce
• City of San Leandro California
• Bay Area Advanced Manufacturing
• Olshan Law - Access to their local machine shop capabilities:
• CNC EB Welding
• CNC Milling
• CNC Turning
• CNC Mill-Turn - Utility Tokens - ERC 20 Token:
• Used inside the platform to reward manufactures and purchasers to make payments, protect intellectual properties, and offer discounts. - RM:
• Long roadmap from Q4 2013 up to 2019 - 9 Team Members & 10 Advisors
• Jeremy Goodwin – CEO. Served as EVP and CFO of China Advanced Construction Materials Company leading it to peak performance 0f 2 000 employees and NASDAQ IPO.
• Andy Tong – CSO. Successful entrepreneur known for founding the top online game portal MMOABC which garnered millions of monthly visitors from NA with 0 spent on advertising.
• Dennis Delgado - Chief Design Officer. Has over 10 years in the art and design world.
• Ali Zain – Over 10 years experience in Full Stack development. Blockchain & tokensale Expert.
• Ben Gerstein – over 12 years experience in digital marketing.
• Jay Ligda – self educated technologist with 20 years experience in the development community.
• 10 Advisors from Apple, UCLA, eBay, JPMorgan and others. - Supply: 1 Bn MFG Tokens from which:
• 30%FGoes to sale
• 30% goes to partnership adoption pool.
• 15% goes to SyncFab Tech development .
• 10% goes to Founding team and bounty.
• 15% goes to Smart MFG Tech LTD for long term ecosystem promotional budget and network governance.
• Unsold tokens are going to be destroyed. - Presale with a 25% Bonus is between 1st and 15th of February 2018. ICO Starts on February 15th with 0% Bonus.
CON’S
- Competition
• General Electric, IBM, Google, they can introduce same or better manufacturing supply chain smart contract solution. - The use of MFG tokens may come under the scrutiny of governmental institutions.
- Total Token supply unknown.
- No support for masternodes.
- The company is currently situated in California and has no near or far future expanding plans.
- KYC – there is a 2 step KYC process:
• Initial verification where you have to just sign in with email address and password.
• Second verification that takes up to 30 business days and it’s not yet clear if requires password or ID scans. This is a turn off for some people.
• Also if the KYC verification fails and you purchased tokens they have stated they will reimburse the investment. - Their last RM Milestone: SyncFab Web 3.0 is a complex software platform and its launch may be significantly delayed due to unforeseen development barriers.
- Areas of the manufacturing supply chain industry may fall under global or local regulation that may limit the use of tokens for supply chain procurement.
