Temco (TEMCO) is a supply chain management solution on RSK’s Bitcoin-based blockchain that allows businesses and consumers to segregate portions of the supply chain and access accurate data in real time, resulting in greater trust and transparency, as well as improved efficiency.
The current supply chain infrastructure is broken, which regularly results in serious hazards for consumers, for instance, the possibility of illness and death as a result of improperly stored or handled food or medicinal products. There is a lot of pressure on supply chain managers to address concerns around these issues, but the system fails because there’s no suitable method in place for monitoring pre-delivery stages, and SMEs frequently don’t have the resources to implement them.
Temco proposes a three-part business model:
Every time there is an outbreak of foodborne illness, consumer trust in companies wanes, which can have damaging longterm repercussions. Temco’s team points to the 2017 pesticide-contaminated egg crisis as a recent example. The government could not identify where along the supply chain the eggs became contaminated, meaning they could do little to prevent the problem from happening again. An even more recent example is the current E. coli outbreak linked to romaine lettuce in the US, which has resulted in the CDC advising anyone who has purchased romaine lettuce recently to dispose of it. Consumers want to know they can trust their products and companies want to earn that trust.
Food safety is just one area that will be positively impacted by Temco’s solution. Large corporations are developing proprietary supply chain management systems and leveraging data for cost optimization, but smaller businesses lack the resources to implement such systems. Temco’s solution aims to streamline the supply chain process, while also ensuring small- to midsize businesses can benefit from the same infrastructure and relevant data.
Investors can be sure the Temco team is the real deal. The executive team lists among its prior tech experience companies like Bloomberg, RBC Royal Bank, Samsung, NBC and Oracle. Meanwhile, Temco’s advisory board is comprised of an RSK co-founder and current and former employees at Ernst & Young and BlackRock. Temco also has a partnership with Korea Investment Partners — the largest venture capital firm in South Korea. Temco’s partnership with RSK puts the company in a unique position to leverage the company’s well-established Smart Contract solution.
TEMCO tokens will be used in these ways: