ARXUM, found online at ARXUM.com, aims to introduce the benefits of blockchain to the world of manufacturing. Find out how it works today in our review.
What Is ARXUM?
ARXUM believes “cloud networked manufacturing”, also known as “manufacturing as a service” (MaaS) will change how goods are produced around the world. MaaS is the shared use of a networked manufacturing infrastructure to produce goods.
Basically, manufacturers use the internet to share manufacturing equipment, reducing costs and leading to higher-quality products – even for smaller manufacturers.
ARXUM will create that system using blockchain technology. They call their platform the ARXUM Production Network.
Using the ARXUM Production Network, anyone in the world can access manufacturing capabilities from elsewhere in the world. Inventors can access a production facility in Asia in seconds, for example. Companies can find the best manufacturer for their unique needs.
How Does The ARXUM Production Network Work?
The ARXUM Production Network will cater to two participants:
- Users with manufacturing equipment can offer their services to the network
- Companies, individuals, and inventors can purchase manufacturing services from the network
Let’s say somebody has an innovative product idea. They need to search for potential suppliers. They need to contact and evaluate those suppliers, negotiate contracts, build a supply chain, and convince customers to buy the product. With ARXUM’s Production Network, users can breeze through all of these steps.
Users can upload a digital description to the network. ARXUM’s Production Protocol will secure the user’s authorship of the digital asset. Large and small production facilities or even individuals with production capacity can be connected to ARXUM’s Production Network. They can also offer their different manufacturing services to the network.
The Production Network will support customers to start a tendering process, then evaluate manufacturers. Clients can influence the manufacturing process of their goods based on different manufacturer ratings. They can look at the location of the manufacturer, for example, the CO2 footprint, their social standards, or simply their price.
The ARXUM Production Network will mediate the technological manufacturing capabilities of the network, organize the supply chain, and help to connect customers. At this point, the product can be successfully launched.
The long-term goal of ARXUM is to create a system where anybody has the chance to create and product their own inventions. If you have a good product idea, then you can find a manufacturer willing to build that idea at a competitive price. The system will lead to lower costs and better quality across the manufacturing industry.
ARXUM uses blockchain for its transparency, decentralization, and smart contracts: blockchain allows for secure, trustless transactions between two parties. All participants in the ARXUM network are bound together in one single Ricardian smart contract.
ARXUM Use Cases
Use cases for ARXUM include all of the following:
- You want to design your own smartphone; typically, building a smartphone is impossible for an average person because it requires a network of specific, advanced products and components, but with ARXUM, it’s accessible via a network of manufacturers
- You have a classic car and the gear for that car is worn out and defective; you need a spare part, but you can no longer purchase the old part from the market; with ARXUM, you can pay someone to build that part
- A shoe retailer wants to open a new shopping experience for customers, allowing customers to design their own shoe; the shoe retailers connects with local manufacturers to build each customer’s unique shoe at a premium price
How Does The ARXUM Connection Box (ACB) Work?
The ARXUM Connection Box, or ACB, connects machines of all suppliers to the blockchain.
When you connect to the ACB, you’re connecting to the ARXUM Production Network (that network is currently being developed). Making the connection is simple and requires no engineering knowledge whatsoever.
Thanks to the ACB, a network is created on the machine level, giving visibility and access to production capacities and capabilities. In other words, the ACB connects directly to the equipment of manufacturers, allowing users to view production capacity at a glance.
Connected customers and manufacturers can easily exchange data on this communication channel with the highest level of security.
Who’s Behind ARXUM?
ARXUM is led by founder and Managing Director Markus Jostock, Ph.D. Markus has 15+ years of experience in full stack software design and development and is a seasoned management professional.
Other listed members of the team include Jens Harig (also listed as founder and Managing Director), who previously served as CEO and CFO of a rapidly growing, listed IT company with subsidiaries in Germany and other European countries.
Overall, the team consists of managers and technical experts with long-time experience in Industry 4.0, IoT, software and distributed ledger technologies, and blockchain technology.
ARXUM originally launched as a spin-off of a long-time existing company named Arend Prozessautomation GmbH, which is based in Wittlich, Germany. ARXUM Business GmbH, however, will be incorporated in Switzerland.
Arxum ICO Review Summary
ARXUM aims to bring German engineering to the blockchain space, allowing a network of inventors to access a network of manufacturers. The platform is centered on the ARXUM Connection Box, which connects to the ARXUM Production Network. Transactions are completed using smart contracts and blockchain technology.
To learn more about ARXUM and how it works, visit online today at ARXUM.com.