Slync is a new blockchain based cryptocurrency for those in the shipping industry, carriers, and any brokers who are involved. The platform gives power to the parties involved, so they can better manage any transactions that commence on a reliable, secure and trustworthy platform – developed to keep the transactions the same. Slync also aligns the flow of all documents needed, authorizations, goods, data, and money needing to be transferred. You can learn more at the company site by entering your email and signing up for the company newsletter and system.
How Does Slync Work?
Slync is designed to give the users a wide range of benefits that would otherwise be difficult to achieve or cost a small fortune to accomplish. The following benefits are the ones that are most beneficial and need to be mentioned for potential users:
Save Time and Money – Use this feature to stop any cost slippage from occurring while at the same time identifying the cause of it because of easier blockchain-audits. Then use the benefit to streamline any information gathering needed to resolve a dispute with total efficiency.
Connect Visibility – Use the clarity of the system to connect data from all events, such as carrier tracking, IoT based devices, compliance services and procedures and checkoffs, plus more.
Unchangeable Audit Record – The ledger of the system provides additional safety as it’s immutable, making events of a shipment extremely accurate. And with multiple copies of the ledger, for events, you can prevent the manipulation of any data recorded.
Automation and Efficiency – Through the use of smart contracts, you can make easy decisions automatically, leading to the benefit of qualified regulatory requirements being mandatory across the board for all involved parties. In turn, the decision-making process as a whole is improved and processed with one single source for truth and accuracy between all partners.
The immutable timeline of events empowers partners involved in a transaction with eh ability to quickly view and verify or even audit specific events in one fluid motion over a collaborative records system. Again, the smart contracts are the source of security and are used to validate any compliance issues automatically with one regulatory or quality of standard that you’ve set in place for your business.
The mobile application available for Slync’s platform will allow you to effortlessly communicate and connect with your partners from anywhere in the world at any time, day or night.
There are plenty of reasons you would want a decentralized ledger. The platform is built on blockchain, so every involved party can safely share access to specific data chunks required for the validation of the related transaction. The honesty that appears as a result are completely transparent on a decentralized ledger, bringing honesty standards and accountability to all parties involved on a specific value chain.
And with there only being the one single source of truth, the ledger transactions make it possible for newer, deeper levels of collaboration among businesses partners. The reason being is the new level of clarity the technology brings to any data that is recorded throughout any part of the supply chain. And the decentralized ledger that is built on the blockchain is impossible to manipulate, making every transaction that takes place immutable to all.
With further security applied via the smart contracts, companies can leverage the complex business logic to create automated, highly-structured and advanced decisions. The result is a system that operates with increased efficiency and reduced human error in the ongoing value chain.
What is the ICO on Slync?
Slync has no ICO at this time. Whether they are in pre-stages of development or not is uncertain. What is certain is they make no mention of any future initial coin offerings or investment opportunities. The information may be in the whitepaper or could possibly be distributed to interested users who sign up on the main page.
Who is Behind Slync?
The website contains no information on the team running the project at Slync. There is no information disclosed on the founder or where the company headquarters is located at. And like I say in every review on an ICO that isn’t transparent about the team, “this is a red-flag that should be enough to make you stay away.”
For me, the level of trust without knowing where the business is at, who started it, and who is running it doesn’t even comprehend. In fact, I don’t even see it as a real business.
Slync in Conclusion
The core concept at Slync is to be a simple to setup and use blockchain-based platform for companies with involvement in shipping. I could go so far as to say, Slync was created for anyone with any level of involvement in a supply chain. The purpose is to empower the involved parties to stay safe, secure and efficient – in addition to using smart contracts to successfully automate much of the process.
In finality, the concept of Slync is good, the website is easy to navigate, user friendly and has some decent information. But unfortunately, the lack of information detailing the founders, team, and company location make Slync a platform to justifiably steer clear from.