The Future of Supply Chains is Blockchains SyncFab offers a solution for small and medium-size enterprises - IBM for large standalone companies
by PAUL SCOTT Owner, Matrix Information Service
INTRODUCTION Blockchain has expanded beyond its roots in cryptocurrency. The distributed ledger has many applications, including smart contracts, peer-to-peer purchasing markets, and specialized financial tokens. These applications are poised to bring major changes to one of the industry’s most vulnerable to blockchain disruption: the supply chain for production and sales of small machine parts. This coming space has two major players. One is IBM, with their Blockchain Hyperledger Fabric project. The oth-
er is SyncFab’s MFG Token platform. SyncFab is an industry partner with the Smart Manufacturing Innovation Institute, along with companies like BASF, Alcoa, and Google. THE MARKET Industrial manufacturing in the United States is projected to grow at 5% compounded annually through 2018, to a total of $1.7 trillion by 2018 for US manufacturing exports. Worldwide, the market is projected at $15 trillion by 2030. A lot of manufacturers and purchasing departments
stand to benefit from the blockchain disruption. SYNCFAB VS IBM SyncFab offers several advantages over IBM’s platform. The Fabric project is designed for enterprise purchasing and sales management at a single company. The blockchain network is accessed by permission, generally given only to a company’s preferred vendors. This is useful for basic functions such as tracking sales and tracing the supply chain, but it is limited.
Published on Nov 17, 2017