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SyncFab Boosts Aerospace Division While Strengthening MFG Token Utility

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Manufacturing blockchain company SyncFab has been selected as an official showcase solution finalist for the United States Air Force AFWERX program, the company announced this week. AFWERX is a community of innovators devoted to creating a faster and smarter US Air Force. SyncFab showcased its technology enabling agile manufacturing and reverse engineering of mission-critical component parts. 

SyncFab MFG Token

Additionally, Jason Smith, a veteran in the aerospace industry, joined the SyncFab team recently.  Smith possesses a tremendous knowledge of the industry, having worked with L3 Vertex Aerospace, the United States Air Force, commercial airlines, and government agencies to uncover business opportunities for engineering, maintenance, and repair services. 

SyncFab’s advisory board has also welcomed Urs Breitmeirer, former group CEO RUAG Swiss Aerospace Defense CO to boost the blockchain adoption strategy. 67% of space and aerospace executives anticipate the combination of blockchain distributed ledger technology, AI, XR, and quantum computing will have a transformational impact on their organization as reported by Accenture. With thousands of suppliers responsible for delivering advanced and innovative components or materials to Tier 1 suppliers and OEMs, supply chain and logistics have long been critical to the success of every major aerospace and defense program, SyncFab team stated.

This substantial reinforcement of the core team at SyncFab is expected to help boost the aerospace industry key players’ activity on SyncFab’s smart manufacturing, blockchain-based platform, which features incentivized parts procurement.  Access to the SyncFab platform and RFQ submission is performed with the purchase of MFG Tokens.  The MFG Token allows parts buyers to receive fast and high-quality quotes directly from manufacturers and then to complete each purchase.  The platform stores all information about each RFQ and the history of all transactions.  All transactions are done automatically through Ethereum based smart contracts.

One of the most interesting features of the MFG Token within the Smart MFG Tech and SyncFab partnership ecosystem is that it allows RFQ bidding parties to be partially compensated for their efforts even if they do not win the contract – they receive some MFGs for participating. This system is the key to answering the industry’s call for resilient supply chain solution requests in an environment of accelerating supply chain disruptions breaking down longstanding just in time manufacturing models. The supply chain is strengthened effectively through SyncFab’s supplier response incentivation mechanism which is tied to the blockchain. Consequently, traditional suppliers are enticed to participate more in the development of the blockchain ecosystem, an industry that has so far been dominated by fintech players. 

In December of 2019, SyncFab announced that it upgraded its MFG Wallet for ERC721 smooth fintech transaction integration.  The 3rd version of the MFG wallet began to support SyncFab’s newly created MFGPRT token, which is an NFT ERC721 token.  These types of tokens are unique and are not interchangeable, unlike ERC20 tokens.  Users can now store both ERC20 and ERC721 tokens in the same wallet.

The latest features of the MFG Wallet allow manufacturing buyers to have transactions written over the Ethereum Blockchain, deposit MFG ERC20 tokens from any 3rds party wallet, such as MetaMask or MyEtherWallet, reverse this process, and much more.                     

Most recently, SyncFab CEO Jeremy Goodwin was included in the Forbes analysis of  managing remote teams for success in the new era of “work from anywhere.” Goodwin was also quoted in a Sage article discussing supply chain resilience: “There is a complex web in these supply chains because of a tiered structure and intermediaries between manufacturer and suppliers as well as layers of quality controls, and annual inspections which are industry standard.”  

Recent efforts of SyncFab to attract additional talent, as well as the increased focus from partner Smart MFG Tech to craft new DeFi driven supplier incentive programs and expand new partnerships while SyncFab continues implementing the tech buildout and push for adoption of supplier incentive programs on the blockchain, solidify the company’s position in the marketplace and allow SyncFab to contribute greatly to the supply chain restoration during the post-pandemic recovery.       

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SyncFab Helps Restore Disrupted Supply Chains, Gets Recognized Globally

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Q3 2020 was a period of exceptional growth for California-based SyncFab.  The manufacturing blockchain company added new partners and was recognized for its accomplishments on a global scale.  

Per Aspera Ad Astra: Hard Work That Blurs All Boundaries

Last month SyncFab officially joined Starburst Aerospace – the world’s leading aerospace and defense accelerator with the largest aerospace innovation partnership stakeholder network.  Earlier in August, former CEO of RUAG Swiss Aerospace & Defense Co. Urs Breitmeier joined SyncFab’s Advisory Board. “I fully believe in SyncFab’s vision for the industry and applaud their early efforts developing the supply chain support system of the future for space and aerospace and I’m honored to be part of the advisory team as it is a natural fit for me,” said Breitmeier in a statement. 

Urs Breitmeier

Also last month SyncFab was chosen as a Showcase Technology Solution at the AFWERX Flagship Annual Event. To strengthen the aerospace & defense sector, SyncFab’s team was joined by USAF Veteran Jason Smith. Smith will be able to apply his experience and industry know-how to the aerospace industry sales cycle. “I help high-growth companies in the aviation and aerospace industry exceed ambitious revenue goals by employing effective consultative and solution selling techniques to win new business opportunities and grow…

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12 Peers Capital Markets Purchases DigitalBits XDB Token

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12 Peers Capital Markets , a broker-dealer and capital markets firm has announced its support for DigitalBits, a blockchain protocol focused on consumer digital assets such as loyalty points, rewards, and branded stablecoins.  The traditional market brokerage firm has purchased the DigitalBits XDB token, after recently announcing “a new found investment thesis focused on identifying blockchain projects that improve efficiencies across global markets,” it said in today’s announcement.

DigitalBits is an enterprise-grade blockchain protocol for supporting consumer digital assets, specifically branded currencies.  The company believes that branded currencies play an integral role in driving consumer behavior, but many of these programs are dated by today’s technological standards.  “These limitations have stifled value transfer, resulting in the accumulation of large amounts of idle capital – in 2017 US corporations held in excess of $100 billion in unused points liability,” the DigitalBits experts explain.  

The DigitalBits blockchain supports tokenization of existing and new consumer digital assets.  The XDB Foundation, which was formed earlier this year, is a neutral agnostic non-profit organization to enhance the DigitalBits blockchain and ecosystem, engage partnerships and building a robust ecosystem for users. Commenting on the 12 Peers Capital Market announcement, XDB Foundation’s Managing Director Michael Gord said that it is great to see traditional firms show interest in blockchain technology. …

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Manufacturing Blockchain Company Syncfab Featured in NASDAQ Entrepreneurial Center’s Event in Times Square

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The NASDAQ Entrepreneurial Center hand-picked several advanced projects and companies to provide individualized mentorship and executive coaching in an effort to support tech startups working on various COVID-19 solutions. As part of the program, the NASDAQ Tower in Times Square broadcasted its Milestone Makers COVID-19 Solutions Cohort live last Wednesday.  

Time-tested communications and manufacturing supply chains have been significantly damaged this year due to the pandemic. This is why manufacturing blockchain company SyncFab was one of the headliners at the conference. Supply chains have become all but non-responsive, and innovative solutions are being prioritized.

SyncFab has built and launched an advanced blockchain platform for supporting smart supply chains and allowing users to source, procure, track, secure, and pay for precision spare parts. Led by Forbes Business Council Member Jeremy Goodwin, SyncFab brings real-time capacity savings opportunities alongside addressing the billion-dollar pain points in manufacturing supply chains. It connects automotive, aerospace, and medical manufacturers with more cost-effective suppliers using blockchain-secured transactions.

“In 2020 the time has finally arrived for industry to jettison the limitations of old-fashioned manual procurement processes,” said SyncFab CEO Jeremy Goodwin in his presentation during the conference. He added that “looking forward, we [SyncFab] will expand supplier coverage, add new supplier response incentive and purchase order programs, and continue to innovate post-procurement blockchain traceability features” to meet shifting needs in the industry.

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