SyncFab

Syncfab revolutionizes the manufacturing supply chain by connecting buyers directly to hardware manufacturers through blockchain

About SyncFab

Syncfab aims to provide a platform that connects hardware manufacturers and buyers directly, and to build one of the first peer-to-peer Industrial Internet of Things (IIoT) manufacturing blockchains for the hardware manufacturing supply chain. Via its Smart Manufacturing Blockchain, SyncFab aims to streamline the procurement and supply-chain processes, with protection of intellectual properties as well as sourcing and tracking of parts production in real time and on-demand. By utilizing smart contracts to streamline procurement processes, SyncFab aims to eliminate the need for intermediaties and thus also the labor-hours wasted on mistakes or delays due to miscommunication. The SyncFab legacy platform was established in 2013, and the company aims to further develop its offering with an online decentralized buyer-to-manufacturer platform that aggregates all buyer orders and sends requests directly to manufacturers matching the buyers requirements on the Smart Manufacturing Blockchain. Manufacturers list their machining capabilities directly on the SyncFab platform, and hardware buyers can send orders for parts directly to them. Smart contracts aim to guarantee production standards, protect Intellectual Property and guarantee payments via the SyncFab Smart Manufacturing Blockchain utilizing the MFG-Token,
Competitors: Gem Blockchain, Deloitte Supplychain
Uniqueness/Advantages to competition: Existing legacy platform to build on.

Token Sale Use of Blockchain

Product

3.0
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.

Product

The SyncFab 2.0 legacy platform has been operational for two years and is being transformed into the blockchain based SyncFab platform. The SyncFab platform is scheduled to be launched Q1 2019 and then to be further developed throughout the year to enhance the product (see Roadmap). There is appeal to the SyncFab product, given the advantages of a blockchain-based solution that provides a manufacturing supply-chain marketplace with payment settlement, IP protection, and network trust/transparency. The potential / target user-base is large, as the supply chain and logistics marketplace ranges in the trillions of dollars globally. The competition over time will greatly stiffen as blockchain technology adoption continues, given the amount of capital in the target marketplace.
Competitors: Gem Blockchain, Deloitte Supplychain

Product Whitepaper

Use of Blockchain

2.2
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

2.0
N/A
2 - Meh, okay.

Use of Blockchain

There is only minor blockchain development and contribution to the blockchain ecosystem, as SyncFab does nothing major to further enhance the capabilities and powers of the blockchain ecosystem, but merely seeks to use them in their present form. There is some potential for disruptive advantage as conversion to a blockchain system could disrupt traditional or legacy manufacturing supply-chains. Here SyncFab aims to lead the disruption by transferring its own traditional system to a blockchain-based system. There is some need for a custom token as the platform intends to use the token for payment settlement, IP protection, and network trust/transparency, however it is possible to write smart contracts and offer this same functionality with ETH. The system will utilize blockchain record-keeping and transactions, and will provide a public API allowing companies, vendors, and other blockchains to interact and transact on the Smart Manufacturing Blockchain; however, platform development will remain centralized.

Use of Blockchain Roadmap

Whitepaper

4.0
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

The whitepaper is very well put together – professional, aesthetic, and easy to read. The document is lengthy at 64 pages, but contains a good blend of graphical and textual presentation. It provides the company’s background and explains the problem and the Crafty solution, including business and technology plans. The whitepaper covers: Today’s Manufacturing Processes, SyncFab’s Pathways to Decentralized Manufacturing, the MFG Utility Token, Competitive Analysis, Roadmap, the MFG Token Distribution Launch, Risk Factors, and a description of the Team. It also provides references to external sources of information via footnotes.

Whitepaper Compliance

Roadmap

3.8
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

5.0
N/A
5 - Professional.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.

Roadmap

Concrete vision is set, starting with a fully operational legacy platform, and progressing to the release of a smart-contract system. Critical obstacles do lie ahead but progress has been made and displayed on the public Github. The roadmap lists major milestones given on a quarterly basis, with detailed explanations of the steps required for their completion.
Milestone 1​ – Q1 2018 MFG Token Generation Event and Distribution
Milestone 2​ – Q2 2018 MFG Token Acceptance Integration
Milestone 3​ – Q3 2018 Format Ethereum Blockchain Smart Contracts for Purchasers
Milestone 4​ – Q4 2018 Format Ethereum Blockchain Smart Contracts for Suppliers
Milestone 5​ – Q1 2019 Implement Purchaser-Supplier MFG tailored Ethereum Smart Contract on SyncFab Platform
Milestone 6​ – Q2 2019 Survey Machine Shop Upgrade Requirements
Milestone 7​ – Q3 2019 Formulate Upgrade Solution for Machine Shops
Milestone 8​ – Q4 2019 Begin Implementing Machine Live Data Feed Upgrade Solution

Roadmap Company and Team

Compliance

3.4
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.

Compliance

The MFG-token has intrinsic value through its planned usage on the SyncFab platform for payment settlement, IP protection, and network trust/transparency. The token’s main utility is as a tradable financial instrument, as it is used specifically for payments. The token smart-contract infrastructure is not yet ready, however the SyncFab legacy system has been operational for two years. The SyncFab team pays attention to compliance with direct statements of AML & KYC Due Diligence and enforces this with a registration process and manual screening of all platform registrants. The legal review and terms and conditions of the sale are very long, professional, and thorough, aiming to absolve the company of any liability regarding the ICO and any problems that may occur, and providing a general statment that the tokens are not to be deemed a security.

Compliance Token Sale

Company and Team

4.0
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

SyncFab has an established team with 10 employees and 10 advisors. The core team has experience in business development, finance, tech. development, UI/UX design, sales, digital marketing, programming, and blockchain development/architecture. The advisors have backgrounds in software engineering, tech development, investing, law, smart manufacturing, and cybersecurity. Advisors to the project have substantial pedigree, with previous experience in the likes of Apple, MySpace, Disney, KPMG, Raytheon, Standford University, J.P. Morgan, ebay, and Paypal. All team members have verifiable work experience credentials via LinkedIn profiles. Some members of the team are fully dedicated to the project, however some are also dedicated to multiple projects outside of SyncFab. Three core team members have previous experience with blockchain, crypto-currency, or smart contract projects. Only one advisor has minimal experience with a previous crypto-currency project.
Positives: The core team is very well rounded and has three blockchain developers, each with previous blockchain, crypto-currency, or smart contract project experience.
Negatives: Not all members are fully dedicated to the project.

Company and Team Product

Token Sale

3.2
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.

Token Sale

Soft Cap: $15M USD (15K ETH)
Hard Cap: $30M USD (33K ETH)
Minimum Goal: 500K USD (500 ETH)
Total Supply: 1,000,000,000 MFG
1 ETH = 5,000 MFG ~ $0.20

Token Distribution
– Strategic Partnership Adoption Pool 30%
– Public Market 30%
– Founders, Advisors, Bounty 10%
– SyncFab (Technology Development) 15% (2 year lock-up)
– Smart MFG Tech (Ecosystem Health) 15%

ICO Sale Proceeds Plan
– 50% Software Development – Smart Manufacturing Blockchain and Smart Contract
– 15% Marketing and Business Development
– 15% Administration and Operational Expenses
– 5% Legal & Compliance
– 5% Reserved – This is a set aside for unforeseen costs
– 10% Smart MFG Tech LTD – Allocated to Smart MFG Tech LTD budget to foster stability and demand for MFG-Token

Social Media Presence & Following
Very little community engagement and reception.

Product

The SyncFab 2.0 legacy platform has been operational for two years and is being transformed into the blockchain based SyncFab platform. The SyncFab platform is scheduled to be launched Q1 2019 and then to be further developed throughout the year to enhance the product (see Roadmap). There is appeal to the SyncFab product, given the advantages of a blockchain-based solution that provides a manufacturing supply-chain marketplace with payment settlement, IP protection, and network trust/transparency. The potential / target user-base is large, as the supply chain and logistics marketplace ranges in the trillions of dollars globally. The competition over time will greatly stiffen as blockchain technology adoption continues, given the amount of capital in the target marketplace.
Competitors: Gem Blockchain, Deloitte Supplychain

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.
Product Score:
3.0

Use of Blockchain

There is only minor blockchain development and contribution to the blockchain ecosystem, as SyncFab does nothing major to further enhance the capabilities and powers of the blockchain ecosystem, but merely seeks to use them in their present form. There is some potential for disruptive advantage as conversion to a blockchain system could disrupt traditional or legacy manufacturing supply-chains. Here SyncFab aims to lead the disruption by transferring its own traditional system to a blockchain-based system. There is some need for a custom token as the platform intends to use the token for payment settlement, IP protection, and network trust/transparency, however it is possible to write smart contracts and offer this same functionality with ETH. The system will utilize blockchain record-keeping and transactions, and will provide a public API allowing companies, vendors, and other blockchains to interact and transact on the Smart Manufacturing Blockchain; however, platform development will remain centralized.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

2.0
N/A
2 - Meh, okay.
Use of Blockchain Score:
2.2

Whitepaper

The whitepaper is very well put together – professional, aesthetic, and easy to read. The document is lengthy at 64 pages, but contains a good blend of graphical and textual presentation. It provides the company’s background and explains the problem and the Crafty solution, including business and technology plans. The whitepaper covers: Today’s Manufacturing Processes, SyncFab’s Pathways to Decentralized Manufacturing, the MFG Utility Token, Competitive Analysis, Roadmap, the MFG Token Distribution Launch, Risk Factors, and a description of the Team. It also provides references to external sources of information via footnotes.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
4.0

Roadmap

Concrete vision is set, starting with a fully operational legacy platform, and progressing to the release of a smart-contract system. Critical obstacles do lie ahead but progress has been made and displayed on the public Github. The roadmap lists major milestones given on a quarterly basis, with detailed explanations of the steps required for their completion.
Milestone 1​ – Q1 2018 MFG Token Generation Event and Distribution
Milestone 2​ – Q2 2018 MFG Token Acceptance Integration
Milestone 3​ – Q3 2018 Format Ethereum Blockchain Smart Contracts for Purchasers
Milestone 4​ – Q4 2018 Format Ethereum Blockchain Smart Contracts for Suppliers
Milestone 5​ – Q1 2019 Implement Purchaser-Supplier MFG tailored Ethereum Smart Contract on SyncFab Platform
Milestone 6​ – Q2 2019 Survey Machine Shop Upgrade Requirements
Milestone 7​ – Q3 2019 Formulate Upgrade Solution for Machine Shops
Milestone 8​ – Q4 2019 Begin Implementing Machine Live Data Feed Upgrade Solution

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

5.0
N/A
5 - Professional.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.
Roadmap Score:
3.8

Compliance

The MFG-token has intrinsic value through its planned usage on the SyncFab platform for payment settlement, IP protection, and network trust/transparency. The token’s main utility is as a tradable financial instrument, as it is used specifically for payments. The token smart-contract infrastructure is not yet ready, however the SyncFab legacy system has been operational for two years. The SyncFab team pays attention to compliance with direct statements of AML & KYC Due Diligence and enforces this with a registration process and manual screening of all platform registrants. The legal review and terms and conditions of the sale are very long, professional, and thorough, aiming to absolve the company of any liability regarding the ICO and any problems that may occur, and providing a general statment that the tokens are not to be deemed a security.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.
Compliance Score:
3.4

Company and Team

SyncFab has an established team with 10 employees and 10 advisors. The core team has experience in business development, finance, tech. development, UI/UX design, sales, digital marketing, programming, and blockchain development/architecture. The advisors have backgrounds in software engineering, tech development, investing, law, smart manufacturing, and cybersecurity. Advisors to the project have substantial pedigree, with previous experience in the likes of Apple, MySpace, Disney, KPMG, Raytheon, Standford University, J.P. Morgan, ebay, and Paypal. All team members have verifiable work experience credentials via LinkedIn profiles. Some members of the team are fully dedicated to the project, however some are also dedicated to multiple projects outside of SyncFab. Three core team members have previous experience with blockchain, crypto-currency, or smart contract projects. Only one advisor has minimal experience with a previous crypto-currency project.
Positives: The core team is very well rounded and has three blockchain developers, each with previous blockchain, crypto-currency, or smart contract project experience.
Negatives: Not all members are fully dedicated to the project.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
4.0

Token Sale

Soft Cap: $15M USD (15K ETH)
Hard Cap: $30M USD (33K ETH)
Minimum Goal: 500K USD (500 ETH)
Total Supply: 1,000,000,000 MFG
1 ETH = 5,000 MFG ~ $0.20

Token Distribution
– Strategic Partnership Adoption Pool 30%
– Public Market 30%
– Founders, Advisors, Bounty 10%
– SyncFab (Technology Development) 15% (2 year lock-up)
– Smart MFG Tech (Ecosystem Health) 15%

ICO Sale Proceeds Plan
– 50% Software Development – Smart Manufacturing Blockchain and Smart Contract
– 15% Marketing and Business Development
– 15% Administration and Operational Expenses
– 5% Legal & Compliance
– 5% Reserved – This is a set aside for unforeseen costs
– 10% Smart MFG Tech LTD – Allocated to Smart MFG Tech LTD budget to foster stability and demand for MFG-Token

Social Media Presence & Following
Very little community engagement and reception.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.
Token Sale Score:
3.2

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