Blockchain technology has not only the potential to revolutionize currency markets, payments systems, financial services, but all other industries as well, moreover, it has all the chances to radically change our daily lives. It is a fundamentally new paradigm, which allows to manage our activities easier and more efficiently than any other paradigm ever.
Everybody knows that the core feature of blockchain is its decentralized character. However, it’s worth mentioning, that the issue is not that it’s only decentralized – it allows for multipurposeness and global scale never seen before. Blockchain can be used for automatic allocation of any recourses from tangible assets to personnel.
Blockchain tech simplifies coordination of all kinds of human interaction; helps arrange collaborative work effectively, and, all in all, lays the groundwork for transition of man-machine interaction to the new level.
As all the data is stored in and transferred via network nodes, it becomes very difficult (if not impossible) to falsify or steal it. This surely makes blockchain a safe haven for secure and transparent storage and transaction of insider information. This, in its turn, makes blockchain tech applicable far beyond just cryptocurrency exchanging – there are zillions of possible alternatives available for businesses of various sectors.
One of such is using blockchain tech to revolutionize multi-trillion dollar manufacturing industry.
Blockchain-based Solution for Manufacturing
A good example here is , a manufacturing supply chain blockchain – the world’s first peer-to-peer industrial marketplace for the manufacturing industry. The company aims to revolutionize the sphere by connecting buyers directly with hardware manufacturers saving their time, money while increasing efficiency, transparency, and, of course, profitability.
As was earlier by Coinspeaker, , the pioneer in the sphere of peer-to-peer industrial marketplace, managed to successfully complete private and public token sales for its MFG Utility tokens last month. With the use of MFG Tokens, SyncFab will be able to save their customers much time by rewarding blue-collar workers for quoting orders, encouraging faster quotes from reputable manufacturers for buyers to choose from, in-turn speeding up the procurement process. MFG token is already incorporated into the platform and is listed on COBINHOOD, CoinExchange and IDEX.
To understand how significant are the changes, that blockchain tech brings to the sphere, it’s worth checking out SyncFab’s infografics (see below) on the problems of the manufacturing industry solved by the tech. From eliminating third parties, quality control and automated payments through smart contracts, to speeding up of order and payment processing, and enhanced traceability – the list turned out to be truly amazing.
While digital marketplace connecting bidders and manufacturers is rapidly advancing, it is predicted to grow up to $15 trillion by 2030, as per a report by Accenture Technology. Given this, SyncFab’s CEO Jeremy Goodwin believes that “the world is at the brink of the 4th Industrial revolution and with technological disruption caused by blockchain and the Internet of Things, it only makes sense for a platform like SyncFab to revolutionize a typically slow moving, manual, insecure and paper based process to a more secure, digital, automated and fast-moving network that can be operated globally on a single efficient platform that brings order to chaos in manufacturing procurement process”.
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Biotechnology is considered to be one of the major technologies that will empower world development in terms of economic growth, environmental protection and public health. Modern biotechnology plays a crucial role both in the elucidation of the molecular causes of disease and in the development of new diagnostic methods and better targeted drugs.
These evolutions have led to the birth of a new economic sector, the biotech industry, associated mostly with start-up projects. Today’s product-minded start-ups are focused on identifying ways to speed up innovations from the lab to patients, consumers, showcasing current programs and research results, including work in synthetic biology, gene editing, personalized medicine, infectious disease management, and neurotechnology. International cooperation and assistance remain crucial for the success of biotechnology.
Biotech is continuing its road to recovery, and there is still plenty of room for the sector to advance. According to Grand View Research, Inc., the biotech sector registered a total market value of US $369.62 billion; by 2025 that figure is supposed to double and cross $727.1 billion. Why such interest in biotechnology?
It’s a matter of economic demand. Almost 50% of the market is occupied by “red” biotechnology, which includes biomedicine and pharmaceutical development. Environmental pollution, the breakneck pace of life, stress, and the aging population keep raising the demand for high-quality, state-of-the-art pharmaceutical products and innovative medicine.
Some of the more promising fields include treatments for cardiovascular disease and cancer, Alzheimer’s, hepatitis B, and diabetes; developing next-generation vaccines and biopharmaceutical drugs; increasing life expectancy and quality of life; as well as regenerative, personalized, and predictive medicine.
Industrial companies are also interested in the development of biotechnologies. There is currently a growing trend of environmental responsibility in business: companies are trying to optimize their use of resources and implementing waste reduction and recycling practices, thereby diminishing their load on the environment.
Research is currently being done into alternative fuels and switching the energy and chemical industries over to renewable raw materials. Biotechnology developments in environmentally-sustainable agriculture are helping solve resource shortages resulting from population growth in countries like the US, China, and India.
Biotech initially came into being at the intersection of two fields: biology and technology. Now we can observe a new development pattern in which projects bring together several innovative technologies at once.
This is a very promising approach: the reliability and transparency of blockchain, the capacity to process huge volumes of big data, the impartiality and speed of artificial intelligence, as well as the ability to attract both large and small investment, will help take biotechnology to a completely new level.
In September 2017, a serial entrepreneur Alexey Zhelyaskov founded Biotech Accelerator, which consists of a Platform and a Foundation. The project’s primary purpose was to seek out and provide grant support to cutting-edge biotech projects and to reward innovative research scientists who have dedicated themselves to an alternative industry different from the conventional life-science paths.
combines the professional expertise and practical experience in the industry to create a thriving ecosystem for the biotech start-ups and pharmaceutical companies operating at various levels within an industry’s supply chain from all corners of the globe.
GENEXI platform offers an innovative solution for the e-commerce market which will bring biotech producers, distributors, retailers and end-consumers together, and will facilitate cross-industry operations within the whole ecosystem.
Using GENEXI platform, biotech producers can focus on expanding sales of their existing products and significantly cutting the production and distribution costs by creating mutually beneficial partnerships with distributors through multiple channels of interaction.
The first project GENEXI managed was the development of the skin regeneration system Restet, based on bacteriorhodopsin breakdown technology. According to GENEXI’s management, the current docket includes treatments for cancer, Alzheimer’s, and cardiovascular diseases.
“Traditional medicine has played out its role. Biotech is currently the most progressive field, both in general and in medicine in particular. GENEXI mission is to lengthen patients’ active lives by applying cutting-edge, clinically proven products. We will soon be treating systematic diseases that require us to alter the genome, address DNA-level defects, reorder amino acids… That is our future,” comments GENEXI’s medical advisor, Alexander Novoselov.
According to data from GENEXI analysts, 2017 was an outstanding year for investments in medicine and biotechnology. Total revenue in medical technologies is expected to rise 5.18% from 2017 to 2018. Clinical analysis in medical visualization has raked in 29 billion dollars in profit in 2017.
According to forecasts, in 2018 revenue in that sector will increase by 4.42%. In laboratory diagnostics, revenue increased 6.37% from 2017 to 2018, while in healthcare IT the increase was 9.99%. 2017 was a record year for biotech in terms of venture capital investments.
Overall the biotech startups raised a record $11.5 billion in 2017, topping it with an extra of $2.5 in Q1 2018 with nearly US $4.5 billion coming from traditional VC. That is a 109% up in comparison to 2016, and we expect the sector to register to a stable annual growth rate of around 4.9%. The biotech market is currently dominated by the US, Canada, Japan, and EU countries.
Analysts note that a huge number of biotech products will be coming into the medical devices market in the next few years. Biotechnology can be used in almost any field within clinical practice: creating degradable implants for surgery, osteosynthesis devices, prosthetics for major and minor joints and blood vessels; building matrices for growing smooth muscle tissue, replacing skin tissue, and regenerating nerve tissue; engineering heart tissue, membranes, adhesion barriers, and wound-healing materials, as well as hydrogels for cosmetic surgeries, and other products. Biopharmacology is actively applying the results of the latest research into discovering new genes, allowing for the creation of new, non-toxic drugs.
“Biotechnology is in demand, and unlike other fields, it is less susceptible to the influence of unpredictable factors. This is a very promising area to invest in,” commented GENEXI’s marketing director, Vladimir Stark. “Our crowdfunding campaign is unique. Biotech startup projects would not be able to achieve such reach by using traditional marketing and PR,” he adds.
GENEXI assembled an impressive Advisory Board and Core Team which includes professional experts in biomedicine, digital health, life sciences, pharmaceuticals, downstream chemical processing, agriculture and bio services among others.
The GENEXI ecosystem is a digital space with a number of high tech solutions, through which manufacturers, distributors and retailers can interact with each other. From May 1 to July 31, 2018, the project will raise capital by means of crowdfunding.
The investors are eligible for bonuses. The period from May 1 to May 31 will be the most beneficial for buying tokens: in this case, the bonus will be 20%, from June 1 to June 14 – 17%, from June 15 to June 28 – 9%, from June 29 to July 12 5%, and 2% until the end of the initial coin offering. In total during crowdfunding GENEXI plans to collect from 20 to 70 million dollars.
60% of funds will be allocated to the grant program, the rest – to the development, testing and launching of infrastructure system. Upon reaching a hardcap of 70 million dollars, GENEXI will allocate 3 grants for a total of 100,000 dollars on simplified terms to biotech labs and companies that will have expressed the willingness to become GENEXI Biotech Accelerator partners before the end of crowdfunding.
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