Firm To Map Out Manufacturing Capacity Worldwide With New Blockchain-based Ecosystem

A Blockchain-based company is launching a peer-to-peer network connecting clients with manufacturers of all sizes - preventing bottlenecks in production by mapping out manufacturing capacities around the world.

Productivist says its platform is an "Open, global and free alternative" to the relocations and heavy investments that many firms and individuals in the manufacturing sector are faced with if they want to grow and flourish.

The company has created a smart device which connects manufacturing tools to the Blockchain - allowing progress on orders and spare capacity to be detected and monitored in real time.

According to Productivist, clients would benefit because it would become less expensive to source the right manufacturing expertise.

Once an assignment has been accepted, the platform would generate a shortlist of candidates based on the project's technical requirements, the deadline, as well as a manufacturer's availability and reputation.

"Our intention is to create a new protocol, an ecosystem where any marketplace, company or factory will be able to connect. We will provide Blockchain access, an application programming interface and a software development kit, and users will create their own decentralized production service according to their needs. It will make the implementation faster, easier and cheaper to every new partner joining the ecosystem" the company told Cointelegraph.

The company's white paper cites research from Accenture which suggests companies in the industrial equipment sector could save $1.6 bln if they embraced autonomous robots, artificial intelligence, 3D printing, big data and Blockchain technology.

A different study by Grand View Research indicates the smart manufacturing market will have a value of €325 bln in just seven years time.

Smoother transactions at lower costsProductivist is based in France and Dubai - and its team is behind another successful manufacturing concept called FreeLabster.com.

The ProducToken - or PROD for short - will be the main cryptocurrency used on the Productivist platform, with the company claiming it will ensure "Smoother transactions at lower costs." Manufacturers are going to be rewarded with PROD tokens when they register their capacity on the platform, and in time, they will be able to use this currency to buy new equipment at a discount.