SyncFab, the California-based blockchain company that focuses on manufacturing, has made some progress this year. First, it opened its new office. Secondly, it has attracted some talented hands to join its team. The company stated that it has to retrace its steps due to the feedback it has received from its customers. Consequently, SyncFab is adjusting its roadmap for the last quarter of 2018.
Hyperledger Blockchain Network
One of the key aspects of its updated roadmap is that the company will tweak the development of the Hyperledger Blockchain Network. The team noted that, due to Ethereum scaling challenges, they are widening their search to help them keep their target on track. Accordingly, they are not ruling out the possibility of developing an Ethereum-Hyperledger hybrid.
Noteworthy, the team outlined that the move will support their buyer-supplier smart contracts and current business processes. Consequently, the technology will be a union between the Ethereum blockchain and Hyperledger blockchain network.
The CTO of SyncFab, Jay Lidga, disclosed that they plan to move important data from their database to Hyperledger Fabric Technology-based blockchain. Lidga noted that the process will improve the system security, immutability, and transparency in relation to customer information and orders.
SyncFab Includes Official MFG Wallet Integration
Although the team has successfully integrated MFG as a payment option, holding MFG requires the use of external wallets. However, SyncFab plans to create a streamlined and cohesive process for the token users by developing an official MFG wallet. Afterward, there wouldn’t be any need for external wallets to hold MFG within the SyncFab Manufacturing Platform.
This is yet another change that the company has implemented in its roadmap. At the time of writing, SyncFab stated that the MFG token codes are under review, audit, and testing. It added that these steps are necessary before launching it.
MFG Token Purchasing and Reward
Additionally, the company is adjusting the MFG token purchasing and reward system. The SyncFab team noted that this phase will come into full effect the minute the MFG Wallet has been integrated onto their platform. Afterward, the next step will be to empower manufacturing service buyers to have the option of buying directly within the platform using MFG tokens. SyncFab stated that the buyers can make a purchase at fixed prices and can attach their orders as a way of incentivizing manufacturing suppliers.
In a similar vein, SyncFab said that they are working on developing a mechanism. This mechanism will incentivize machine shops to provide very rapid and competitive quotes through MFG token rewards. This way, a supplier will earn system rewards by participating in a RFQ bidding process. The SyncFab team pointed out that they would continue to modify the bidding process based on supplier feedback.
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