TEMCO
The term cryptocurrency or crypto currency is a controversial digital asset designed to work as a medium of exchange using cryptography to secure transactions, to control the creation of additional units and to verify asset transfers. Cryptocurrency is a type of digital currency, alternate currency and virtual currency. Cryptocurrency uses decentralized controls as opposed to centralized electronic money and central bank systems. The decentralized control of each cryptocurrency works through blockchain, which is a public transaction database that functions as a distributed ledger.
WHAT IS TEMCO?
TEMCO is a platform thаt соnnесtѕ аnd іnfоrmѕ соnѕumеrѕ аnd ѕuррlіеrѕ оn a ѕuррlу сhаіn іn a trаnѕраrеnt аnd secure mаnnеr. It is a ѕuррlу chain mаnаgеmеnt рlаtfоrm and is dеvоіd оf thе loopholes thаt рlаguе the сurrеnt ѕuррlу сhаіn ѕуѕtеm. TEMCO аіmѕ tо alleviate thе lарѕеѕ in іnfоrmаtіоn dissemination аѕ gооdѕ are mоvеd аlоng thе supply сhаіn. It will grаnt rеаl tіmе ѕtаtе information of ѕuррlу chain tо соnѕumеrѕ аnd ѕuррlіеrѕ аlіkе. Aѕ рrоduсtѕ аrе moved frоm оnе роіnt of the ѕuррlу сhаіn tо another; say from dіѕtrіbutіоn to rеtаіl, the participants wіll be able tо monitor gооdѕ рrоgrеѕѕ rеаl time. TEMCO wіll also grаnt ѕuррlу сhаіn іnfоrmаtіоn thаt will hеlр соnѕumеrѕ mаkеѕ thе best decision whеn choosing thе best buѕіnеѕѕ tо buy goods from аnd аlѕо buѕіnеѕѕеѕ can іmрrоvе еffісіеnсу bу uѕіng TEMCO to орtіmіzе ѕuррlу chain рrосеѕѕ.
Solution offered by TEMCO
TEMCO Project seeks to develop a mechanism that is capable of resolving the challenges of the current supply chain management system by using Smart Contract on the public blockchain network. The aim is to allow all users to be able to access the up-to-date information across the whole supply chain procedures from production to distribution stage and finally to the retail points.
By using TEMCO platform, users can select products that has underwent dependable supply chain management standards. Similarly, enterprises can leverage on this to improve their effectiveness by narrowing supply chain procedures and framework through the use of TEMCO network. They might also improve profitability by enhancing product sales system through the use of supply chain details available in the blockchain.
Moreover, the cost of bringing on such facility for Small and Medium-Scale Enterprises (SMEs) can be substantially reduced through the use of TEMCO Platform. Before now, the cost of building supply chain management infrastructure for SMEs runs into millions of US dollars.
With the TEMCO platform, however, every user is linked in a single platform that presents big data analytics while eliminating the need for a huge capital commitment or extra charges for subscription as the sole cost for implementation of Smart Contracts on the network.
TEMCO aids in fortifying the product safety system and this is quite beneficial. In the current supply chain management system, spotting the root cause of quality-based claims is challenging. However, with the advent of TEMCO Platform, the history of distribution can be tracked to the single order and this can assist in detecting the party at fault in the event of a dispute.
TEMCO Tokens
The ticker for TEMCO tokens is TEMCO and it is an Ethereum-based ERC20 standard type token which is used for accessing every component of the TEMCO Platform. Also, the TEMCO token is used to reward users that contribute to the development of the TEMCO platform. It is an utility token that accepts Bitcoin and Ethereum currencies.
Conclusion
The TEMCO platform seeks to improve the supply chain management system by introducing a checking standards and this improves customers' trust in retail products because of balanced information open to them.
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author:Chubylaw
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