Modern Machine Shop

OCT 2018

Modern Machine Shop is focused on all aspects of metalworking technology - Providing the new product technologies; process solutions; supplier listings; business management; networking; and event information that companies need to be competitive.

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Page 82 of 147

Blockchain Modern Machine Shop 81 in the smart manufacturing blockchain. Anonymous manufacturers and parts purchasers could agree to do business without even a phone call, let alone a face-to-face meeting. As work proceeds, there would be no risk of referring to an outdated copy of, say, a part-inspection report or quality certification, because there is no such thing as an outdated copy on the block- chain. Eventually, smart contracts could even facilitate real-time, automatic and fully secure production updates via direct feed from machine tool CNCs. Preparing the Shop Achieving these goals requires more than just SyncFab's continued development. Also necessary is a buy-in from the users—hence the planned use of MFG Token bounties as incentives to adopt blockchain and purchase MFG Tokens. The intent is that shops will begin to think more deeply about blockchain and what it will take to partic- ipate in future supply chains. "We want to start the process of troubleshooting on the shop f loor," Mr. Goodwin says about the bounties. "We see these incentives as contributing to the mobiliza- tion of resources and effort that will be required to get where we need to be." Even prior to the unveiling of bounties, a CNC machining business that is new to the free network may have work to do. For instance, it must be comfortable with digital invoicing rather than manual. Pending further dApp development, it must also be comfortable with wire-transfer payments rather than traditional paper checks. With the front office in order, Mr. Goodwin's shopf loor troubleshooting can begin. Preparing for broader blockchain-based functionality requires networking equipment and adopting machine-monitoring systems. It requires learning to leverage data, and data-management software, and all the other technologies and philosophies that make a shop "smart." If blockchain takes hold, it is the interconnected, data-driven opera- tion that will be most accessible and most prized by those seeking its manufacturing services, whether the prospect is a small product developer or an OEM eager to reduce overhead and stream- line its supply chain. SyncFab, meanwhile, will continue to sweeten incentives by developing the dApp, introducing new smart contracts and reformatting existing smart contracts to better match the realities of business. Current markups will be replaced by fees more appropriate to how participants use the system. Ultimately, the hope is that others will adopt the MFG Token and SyncFab's established protocols to fuel other smart-manufacturing blockchains, even as the company continues to expand its own network. Preparing for broader blockchain- based functionality requires networking equipment and adopting machine monitoring systems. SyncFab |

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