“As society becomes more and more complex, cheating will in many ways become progressively easier and easier to do and harder to police or even understand.” Vitalik Buterin
Vitalik Buterin could be considered as one of the great brains of the 21st century. Worth a staggering $200 million at the age of only 24, Vitalik is the brain behind the smart contract. Inspired on many levels on the problems that businesses are facing today such as fraud (see quote above) and the inefficient exchange of information, his invention is changing the face of business today. For those who are not familiar with this smart contracts, perhaps Amir Rosic’s basic description is a good one :
“The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations”.
After a careful study, Productivist quickly realised that this method is transferable to improve the manufacturing industry. Productivist identified the fact that industry is clearly hampered by a slow and unreliable transfer of information and also a ponderous decision making process. By developing their service, Productivist aim to radically improve the decision making process, and avoid inaccuracy and inefficiency in the exchange of information rife in the supply chain today. Its service will address the lack of in-house expertise often found within a structure, by selecting the right supplier and facilitate accurate communication between supplier and manufacturer.
The Productivit’s system evaluates and matches true requirements so that the selected manufacturer meets the client’s requirements 100%. Productivist will use smart contracts which profile each transaction by introducing a scoring system. Thanks to the usage of smart contracts all information will not be vulnerable to fraud and will remain confidential. Manufacturer’s data will be recorded using smart contracts and it will be used to calculate suitability to undertake the order. For example, the system will automatically interrogate the manufacturers’ material, location, experience, availability and manufacturing capacity in accordance with each client’s needs and priorities. All such exchanges of information will be incorruptible and free from passing through several manual stages — an inevitable part of the traditional supply chain.
Their Scoring System provides clients with an unrivalled selection process. Rapid, accurate providing clients with a viable and infallible manufacturing-client match. The scoring system is a statistical screening method. Client and Manufacturer data made available to Productivist is used to generate a score between 100 and 1,000. Potential risks will be reflected in these scores. The higher the score of a Manufacturer, the lower the risk for a client to experience a lower quality production.
Productivist’s supply chain solution is an exciting prospect. Standing on the threshold of change Productivist offers the manufacturing supply chain a real alternative. Imagine a manufacturing chain without delays, without mismanagement, without IP insecurity and you have what Productivist can offer you.
For more information you can read the white paper @ https://ico.productivist.com
