Founded in 2016, modum.io AG is a tech startup developing systems to improve supply chain processes by combining the best of blockchain technology and IoT. Based in Zürich, between the “Crypto Valley” in Zug, a hot spot for fintech and cryptocurrency innovation, and Basel, a European pharma hub where Novartis and Hoffmann-La Roche are headquartered, modum.io is perfectly located to bring our innovative compliance machine to market.
At modum.io the team strives to make all of their client’s business processes more efficient and streamlined through the use of emerging technologies. Modum.io works with their clients to find pragmatic solutions that enable their customers, often the end user, to benefit from the most innovative technologies on the market. Modum.io leverages these same technologies to help their clients reduce costs and increase security, transparency, and profit.
Modum holds ongoing collaborations with the University of Zurich and the University of St.Gallen. After winning a number of competitions, including Kickstart Accelerator, the Modum team has maintained itself as a fast-paced, dynamic, and high performing group that works in high collaboration towards short-term goals and the long-term growth of modum.io.
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How will Modum.io add value?
Modum.io offers a more efficient supply chain solution, which enables companies to prove compliance with GDP regulations using blockchain and Internet-of-Things (IoT) technology. The modum solution allows significant cost savings for the distribution of medicinal products that do not require active cooling. The modum solution is:
- Designed for pharma standards with a calibrated temperature sensor.
- Automated to a high degree and fully wireless.
- Easily integrated with existing customer systems, capable of being rolled out painlessly, with no gateways.
- Able to provide a high level of data integrity, authenticity, independent veri cation, auditability, security, and exible data ownership.
- A low-cost solution that allows mass use.
During modum.io’s extensive proof-of-concept phase, pilot projects with several customers have determined that the modum solution delivered its highest value as a last-mile logistics service in the pharma supply chain. As such, modum.io will o er its solution in a “pay-per-shipment” model.
The last mile of the pharma supply chain begins when nished products leave the pharmaceutical production facility and ends when they arrive at the pharmacy or hospital to be administered to the patient. Between producer and pharmacy, the products typically move through a pharmaceutical wholesaler. In the EU, around 200 million of these shipments occur each year.
Once the blockchain is a proven, cost-saving part of a logistics supply chain, additional use cases will be possible with almost no incremental costs for our customers. Besides the obvious ones as trade governance, trade documents and determination of legal handover, we are able to deliver unique products by adding additional environmental sensors to our hard- ware. For example, motion sensors to detect whether fragile goods were handled correctly, light detectors to immutably prove whether a parcel
The modum system has been validated through pilot programs throughout Europe and the Middle East. These programs have served 43 companies in tracking almost 1,000 shipments with over 500,000 data points.
Modum.io combines IoT sensors with blockchain technology to provide data integrity for transactions of physical products, streamlining supply chain processes in many sectors. The modum sensors record environmental conditions during shipments. When shipped goods change ownership, the collected data is checked against a specific smart contract in the blockchain. The contract validates that the transaction meets all of the standards set out by the customer, their clients or the regulator and triggers various actions: notifications to sender and receiver, payment, or release of goods, etc.
Using the data collected by modum’s services, the opportunities for improving the supply chain in any sector in terms of efficiency, cost reduction, environmental impact, customer service, and regulatory compliance are limitless.
Milestone 1 – expected earliest October 22nd, 2017: The objective is to ensure a proper minting and token distribution process to release upon positive voting 900,000 tokens (3% of the maximum MOD supply) to a wallet controlled by modum.io. The distribution is conducted using the first in first out principle. All contributions are consolidated into one list. The timestamp per block is used to define the conversion rate to USD, which is then used to define the conversion rate to MOD tokens. One contribution might be in multiple bonus tiers. This process is supervised by our advisor Lykke Corp. The released tokens are used for our advisors, many helping hands in the making of this tokensale and the bug bounty program.
Milestone 2 – expected earliest Q1/2018: Objective is to ensure the go-to-market of our first product line including the mass production of our dedicated sensor device and the product ecosystem (application, validation & qualification). At least two environmental sensors are integrated into the hardware platform (temperature and motion) and besides Ethereum at least one of the following blockchains: IOTA, NEO, Fabric, ETC or Rootstock, is supported as blockchain back-end. 3 million tokens are upon positive voting released to a wallet controlled by modum.io.
Milestone 3 – expected earliest Q1/2019: Objective is to deliver the next sensor generation with real-time interaction (via current or emerging network technologies, like LoRaWAN). At least one additional environmental sensor is integrated (light or humidity) and any two additional blockchain back-ends of the following: IOTA, NEO, Fabric, ETC, Rootstock, Waves, Tezos, EOS or Cosmos, are supported. 3 million tokens are upon positive voting released to a wallet controlled by modum.io.
Milestone 4 – expected earliest Q1/2020: Objective is to deliver the next sensor generation with a real-time, on-chip blockchain node. An additional environmental sensors (e.g. light or humidity) is integrated and the complete modum software is delivered in a fully decentralized architecture. 3 million tokens are upon positive voting released to a wallet controlled by modum.io.
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In order to provide correct information on this cryptocurrency most of the content comes directly from the particular cryptocurrency. Source: modum.io
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