Overview

Decentralized hardware manufacturing. 

Project stage

Working product

Detailed description

Silicon Valley-based SyncFab aims to harness technologies and connect with the IoT and the IIoT to provide purchasers and manufacturers with high quality data that would streamline processes along the supply chain. 

Connecting purchasers with manufacturers in the IoT through its business-to-business (B2B) SaaS ecosystem, SyncFab creates a public, peer-to-peer ecosystem whereby purchasers can find companies capable of advanced machining of on-demand precision parts production and engage participants passionate about improving efficiencies in the supply chain. 

While the government built the Internet (ARPANET), SyncFab believes the IIoT will be built collaboratively, through public-private partnerships (of which SyncFab has formed).

Problem

  • Difficult for Small Businesses: Manufacturers prefer large companies as customers, squeezing out everyday innovators. Mom-and-pop manufacturers are forced to spend time providing quotes without pay. 
  • Opaque Procurement Process: Current manufacturing lacks accessibility to the procurement process. 31% of buyers cite finding the right manufacturing suppliers is a standard issue in the production process. 
  • Outdated Technology: Current tech and manufacturing processes are outdated. Inefficient product procurement processes account for a yearly loss of $1.5 billion in revenue for North American businesses. 
  • Little to No IP Protection: Businesses lack intellectual property protection. 36% of businesses cite IP protection as a top concern. 39% of businesses have experienced a breach in the last 12 months.

Solution

1. Hardware Buyer: SyncFab eliminates intermediaries and brokers in the hardware manufacturing process to save buyers money. We connect buyers directly to hardware manufacturers and provide effortless production tracking. 

2. Hardware Manufacturers: Syncfab eliminates marketing costs by connecting buyers directly to manufacturing facilities. Our smart contracts guarantee payments and give manufacturers full control of pricing & capabilities.

Features

Eliminating Middleman
SyncFab aggregates all orders and sends requests directly to manufacturers that match the buyer’s requirements. Buyers can monitor all their parts in production from one place and have the parts delivered directly to their business. 

Promoting Small Businesses
SyncFab develops the technolgy to promote local manufacturing businesses, provide buyers with easy parts production, streamline the manufacturing process, and incentivize buyers and manufacturers with rewards for their efforts. 

Incentivizing the Working Class
The MFG Token is a utility token used to reward purchasers and manufacturers, make payments, protect intellectual properties, and promote trust and transparency through its execution of smart contracts on the blockchain. 

Innovating Industry Technology
Decentralized app (DApp) will be the P2P IIoT manufacturing procurement network available to the public. It will eliminate intermediaries and brokers form the manufacturing process and giving everyday innovators and small businesses the power to manufacture.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : MFG
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 33,000 ETH
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :15,000,000 USD
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,000,000,000 MFG
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :300,000,000 MFG
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, Crimea, Cuba, Iran, Iraq, North Korea, Sudan, Syria, USA, Yemen,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    Immediate token disribution

    Unsold tokens

    NA
      • Token Distribution

        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Public sale — Ended
      15 Feb 00:00 UTC
      15 Mar 00:00 UTC
      0.12 USD No - Uncapped 33,000 ETH
      Pre-sale — Ended
      01 Jan 00:00 UTC
      15 Feb 00:00 UTC
      0.15 USD 25% - Uncapped 33,000 ETH
      • Team

        • Jeremy Goodwin photo
          Jeremy Goodwin
          Chief Executive Officer
        • Andy Tong photo
          Andy Tong
          Chief Strategy Officer
        • Jay Ligda photo
          Jay Ligda
          Chief Technology Officer
        • Dennis Delgado photo
          Dennis Delgado
          Chief Design Officer
        • Victor Nguyen photo
          Victor Nguyen
          VP Product & Operations
        • Ben Gerstein photo
          Ben Gerstein
          VP Marketing
        • Ram Maurer photo
          Ram Maurer
          Community Manager
        • Ali Zain photo
          Ali Zain
          Blockchain Developer
        • Yasir Irbal photo
          Yasir Irbal
          Blockchain Developer
        • Ali Rizvi photo
          Ali Rizvi
          Blockchain Developer
        • Khanh Tran photo
          Khanh Tran
          Full Stack Engineer
      • Advisors

      Roadmap

      • Q4 2013

        SyncFab concept created

      • Q2 2015

        SyncFab 1.0 launches Local Product Development Design and Manufacturing Ecosystem

      • Q1 2016
        • Cities of San Francisco and San Leandro select SyncFab for STIR 
        • Civic Technology Partnership Program
      • Q3 2016

        White House and DOE add SyncFab into the Clean Energy Smart Manufacturing Innovation Institute (CESMII)

      • Q4 2017

        SyncFab MFG Token Presale

      • Q3 2017

        SyncFab 2.0 launches Regional Advanced Manufacturing Parts Procurement Platform

      • Q1 2018

        SyncFab MFG Token Sale

      • Q2 2018

        MFG Token integration into existing platform

      • Q3 201

        Format Buyer Blockchain Smart Contracts

      • Q4 2018

        Format Manufacturer Blockchain Smart Contracts

      • 2019

        Integrate Blockchain Smart Contracts into existing platform

      Activity