TEMCO : Supply Chain Management on the Bitcoin Blockchain
It is no current story that cryptocurrency is a digital currency which was brought into existence through the use of advanced encryption techniques known as cryptography and powered by Blockchain technology.
Since the big breakthrough in year 2017, the amount of Initial Coin Offer(ICO) and Token which have been purchased and sold is still counting in their exponential rate. Research has also shown that , there are thousands of ICO’s and Tokens crypto-digital market but knowing which ICO or Token to invest in could possibly be a hurdle for lots and lots of potential investors to cross in this race of cyptocurrency investment .
Identifying which ICO’s would possibly grow into sustainable companies and which ICO’s would be worth investing is important to the investor’s return on investment (ROI).
This is where TEMCO comes into play...
TECHNOLOGY
TEMCO combines innovative technologies - smart contracts, blockchain, and big data. Data is uploaded to blockchain using smart contracts and then migrated to big data. This design enables businesses to maximize the use of valuable information.
TOKEN MODEL
TEMCO tokens and incentive points are rewarded to users when they participate in the community. To motivate users, we give more TEMCO tokens and incentive points to monthly top reviewers, highly rated businesses, and community-voted feedback writers. They can spend the tokens in the TEMCO marketplace.
Overview of the Platform
TEMCO SOLUTIONS TO DIGITAL PROBLEMS
Supply chain is known to be one the most exciting direct applications of blockchain technology, its implementation will save the whole industry dozens to hundreds of billions of dollars each year. How is it possible ?
The current structure of a supply chain management system has major flaws. Because there are a lot of participants, the network is chaotic and inefficient. A classic system involves multiple databases that are disorganized and often don’t communicate between each other. This creates a situation where the data doesn’t flow freely, can be tampered or even lost. As a result, end consumers have very low trust in the supply chain information and they’re totally right. Without standards and regulations, the actors in the industry fail to track goods transparently and to quickly manage crisis when they occur.
Large corporations are able to create proprietary systems to deal with this issues but medium-to-small businesses don’t have access to it. Most of the time, they don’t have the infrastructure and the resources to invest in such technology.
One of the key aspects of the project at first glance is the investment it received from the largest venture capital firm in South Korea, Korea Investment Partners (KIP). This is their first investment in a blockchain company, they believe TEMCO can revolutionize the industry. Apart from KIP, TLDR Capital, DEBLOCK, BLOCKCHAIN I and other firms contributed to the funding of the project.
A competent team
TEMCO is developed by talented individuals that have experience in large companies in their respective fields. Some of the firms the team have worked at are Bloomberg, POSCO, Swatch and NBC.
There are many more details about the team and the various strengths of the project on their website : https://www.temco.io/#/
The future of the project
After securing private investments from top VCs like KIP, TEMCO aims to raise $19 million during its ICO starting in November. This amount will allow the project to finance the development of its platform as well as to support marketing efforts for the coming years.
Once the ICO is concluded, we can expect to witness the release of the supply chain network in early 2019. Starting from this point, TEMCO will gradually develop its different tools like a Business Insights tool, an IoT function, a consumer application and even a luxury goods solution.
This project is definitely exciting and promising, I’m looking forward to see how it will evolve and how fast it will attract various businesses to join its platform to bring efficiency, transparency and reliability in their supply chain management processes. You can keep in touch with TEMCO on their official channels :
Telegram : https://www.temco.io/#/
Website : https://www.temco.io/#/
Twitter : https://twitter.com/TEMCOLABS
Authored by: pype1242
Ethereum address : 0x0bb3bcf343c213330da18a5eff96f9849158708b
bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2129196