ICO Today Magazine News
Manufactory is Evolving the fourth industrial revolution with decentralised intelligent manufacturing systems. Industry 4.0 (Industry40, 4IR) and the Industrial Internet of Things (IIoT) are beginning to make a minimal impact within larger manufacturers, although the full benefits of which are not yet being realised. This technology is also currently out of reach for small to medium sized manufacturing companies where it is needed the most due to the inhibitive costs and expertise required. The Manufactory vision is not just about the Blockchain but about building a decentralised manufacturing ecosystem which combines all of the technology that Industry 4.0 can provide. The MFR token will be used to facilitate the manufacturer-customer interaction using smart contracts, which will ensure that order requirements are met. Manufacturers will be able to use the token to buy material, tooling and machinery and the customer will be able to purchase their required components from the correctly qualified suppliers. Users will have the option to have the token automatically converted to a Fiat currency (Government declared legal tender) once they have finished their transaction. The decentralised nature of the platform means that it will be available to all manufacturers of all sizes so that they can more effectively and efficiently compete in a global marketplace.