NEPTUNE, N.J., Dec. 27, 2017 /PRNewswire/ – Sterling Consolidated Corp. (OTC: STCC) (The Company), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, today announced another forward step in its strategic growth strategy. The Company has announced plans for DiMO, a decentralized international marketplace for O-rings.
“We believe that, based on its highly fragmented structure with thousands of distributors and very few suppliers in Asia, the O-ring industry lends itself perfectly to utilization of the Blockchain and smart contract technology,” said Darren DeRosa, the Company CEO. "Our goal is to solve a problem for the entire O-ring industry and bring a new technology to a mature industry. Currently there are very high inventory carrying costs, and international suppliers require up-front payments on purchases which take months to deliver. Both of these factors put great stress on the cash flow of the average O-ring distributor. With DiMO we believe we can reduce financing costs and inventory carrying costs for the distributor and create better and faster service for O-ring customers.
Sterling has partnered with an expert Blockchain tech agency, BlockchainDriven (www.blockchaindriven.com) to lead their integration efforts. “We consider that BlockchainDriven is the leader in the Blockchain space,” said DeRosa. “Their team will help take our strategic goals and integrate them on the Blockchain, utilizing the latest industry research and technology.”
I noticed two things - some companies may be able to get some kind of competitive advantage by using blockchain, and there are companies doing consulting and other services related to it.
So there are real investment opportunities (as opposed to crypto speculation), but it seems pretty early to spot the winners.