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About TEMCO ICO (token sale)
TEMCO ICO is envisioned as a public supply chain blockchain system that aims to utilize Smart Contracts to overcome the limitations of existing supply chain management systems.
In the existing system, the information of each distribution participant within the supply chain process may be segregated and cut o from the each other, but TEMCO aims to make it possible to connect each participant through a blockchain so that the pre-delivery stages can be grasped in real time. The potential is to build consumer trust regarding the supply chain process, and also to create a cost-cutting effect through more efficient supply chain management.
TEMCO’s Business Model
TEMCO’s business model is proposed to consist of 3 steps:
1) Develop blockchain based supply chain network
2) Develop big data analytics tool and launch TEMCO Market
3) Provide big data analytics service and data
TEMCO ICO will seek to o er a data analytics tool for businesses to utilize valuable data within the blockchain. For consumers, we aim to o er easily accessible real-time supply chain data about their purchases. The proposed TEMCO Market platform will allow consumers to use cryptocurrencies to make purchases. Businesses outside the platform can also take advantage of our big data analytics.
Develop blockchain based supply chain network TEMCO will connect existing siloed systems into a single platform to prevent data isolation and to allow all participants to access real-time data. Supply chain participants will be connected through the application provided by TEMCO. Product information registration, transfer activity, and ownership changes are processed through Smart Contracts. TEMCO ICO Tokens are used to fulfill Smart Contracts. By o offering standard protocols and APIs, businesses will be able to easily integrate their system with TEMCO’s system.
Using Smart Scan, consumers can obtain detailed information about their purchases. To facilitate active consumer participation, TEMCO will reward consumers with TEMCO Points when they use Smart Scan. Consumer information connected to the Smart Scan is stored in the blockchain anonymously.
Through blockchain based supply chain infrastructure, businesses gain visibility and control over their supply chain management processes, and consumers receive accurate and trustworthy information. For TEMCO ICO, we can obtain initial users and seed data for BI tool.
TEMCO’s Token Model
The TEMCO ICO system is proposed to be based on ‘Tokens’ and ‘Points’. TEMCO Tokens are used as a medium of exchange within the TEMCO platform. Specifically, it is a key means of payment for the execution of Smart Contracts and the purchase of services and products within the TEMCO ecosystem once it is developed.
TEMCO Points will be used to build sustainable reward schemes for TEMCO Market and TEMCO platform participants as determined by TEMCO. TEMCO Points may serve as gesture of appreciation to encourage and reward users to voluntarily participate in community activities within the TEMCO ecosystem. For example, if the consumer buys a product using a TEMCO Token, or if he or she participates in the community (such as by scanning QR code, writing a review, reacting to customer reviews, or sharing other customer information) the system calculates the value of the contribution and rewards the user with TEMCO Points.
Vendors can also receive TEMCO Points based on monthly product rankings and quarterly market sales growth. Hence, it may also be possible for Vendors to pay for Smart Contract fulfillment and/or platform subscription fee by leveraging revenue from product sales and subsequently converting their TEMCO Points into TEMCO Tokens.
TEMCO Points will have a validity period of 6 months to encourage users to constantly earn and utilize their TEMCO Points, and engage them with continued interest in the long-term success of the platform.
The TEMCO ICO community is most meaningful when all participants are engaged in active and ongoing activities under token and point-based economic incentive schemes.
Under this structure, consumers can purchase safe products that have gone through a proper supply chain process, and manufacturers and distributors can create a virtuous cycle structure that is rewarded with fair value.