About The MOD Token
Feasibility of the system was tested using the Texas Instruments SimpleLink multi-standard CC2650 SensorTag as a prototype. 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 award-winning team at Modum leverages blockchain technology to deliver cutting-edge supply chain solutions across the globe. Modum is a supply chain technology that involves the use of smart sensors and smart contracts. The smart sensors scan a product’s packaging to determine the temperature of the package. Then, that information is recorded into the smart contract on the blockchain.
As is the nature of modern supply chain distribution, the packet is scanned at various stages along the journey. At each scanning event, temperature data is sent to the sender without ever needing to open the package. If the temperature parameters are broken at any stage in the journey, a record will exist to demonstrate that. This is important not just for the customer but also in terms of the opportunity for Swiss Post to identify specifically where such problems emerge, allowing it to resolve such issues on future deliveries. In the long-term, Modum’s long-term strategy is to provide a platform for data integrity using progressive IoT technology to monitor all of the conditions that affect physical products while in transit.
Obviously, the pharmaceutical industry can particularly benefit from temperature-tracking technology. Pharmaceutical ingredients and finished products are susceptible to temperature fluctuations, and temperature control is crucial in the pharmaceutical supply chain. In early testing, Modum has partnered with two companies (including a Basel, Switzerland-based pharmaceutical company and a leading shipping company) who used the Ethereum platform. Modum, found online at Modum.io, is a blockchain technology that aims to enhance data integrity for physical products.
To raise capital for the purposes of developing and bringing the Modum solution to market, the Company offered its own MOD crypto token –of the Ethereum ERC20 type– for sale during an ICO which ran from 1-22 September 2017. Modum is a tech startup developing systems to improve supply chain processes by combining the best of blockchain technology and IoT. However, it’s use in combination with IoT sensors brings more opportunity.
Deliver the next sensor generation with real-time interaction
The goal of Modum is to streamline supply chain processes across industries. It’s bringing together IoT with supply chain to provide analytics to the logistics of the pharmaceutical industry.
Modum’s vision is to provide data integrity for physical products en masse in order to increase transparency and to facilitate process automation. Modum’s blockchain is designed especially for industries with a high concern for accountability – like pharmaceuticals, where labeling and quality sources are crucial. The modum smart contracts are not restricted to a single blockchain. The pilot projects, including those with a large Basel pharmaceutical company and a leading parcel distributor, used the Ethereum platform.The modum system relies on a secure IoT sensor device.
Our model also directly rewards participants for their valuable feedback. The platform’s community can gain coins by producing content and working with quality reviews on the Review.Network platform.
- Bespoke instructions, pre-coded into the smart contracts, can also prompt actions within the supply chain, such as the automatic triggering of specific logistics processes, as and when the shipment reaches specified stages along the way.
- The smart contracts -which are built into the Modum solution- secure the logistics data of each consignment, with decentralized blockchain technology, wherever in the world the shipment may be traveling at any given time.
Temperature data can ensure and verify that perishable products are kept at the optimum temperature. This should result in a better outcome for retailers and consumers. If smart contracts are enforced which insist on certain temperature parameters and the data for the complete duration can be relied upon, standards are likely to improve. The quality of product that the consumer receives can only be embellished as a consequence.
It’s understood that IOTA distributed ledger technology (DLT) forms the backbone of its network. However, it also has experience with other blockchain technologies such as Hyperledger Fabric and EOS.
With the smart recommendation system implemented, it is easier for members to find the best goods and services with ease. The REW is the digital currency of the Review.Network platform. Companies purchase coins to conduct market research on the platform and reward users in exchange for the feedback they leave. The Company, modum.io AG, was founded in 2016 and describes itself as a tech startup, developing systems to improve supply chain processes by combining the best of blockchain technology and IoT. Modum combines IoT sensors with blockchain technology to provide data integrity for transactions of physical products, streamlining supply chain processes in many sectors.
The smart contracts -which are built into the Modum solution- secure the logistics data of each consignment, with decentralized blockchain technology, wherever in the world the shipment may be traveling at any given time. Bespoke instructions, pre-coded into the smart contracts, can also prompt actions within the supply chain, such as the automatic triggering of specific logistics processes, as and when the shipment reaches specified stages along the way. Pharma clients specifically, use Modum smart contracts to store temperature thresholds for their products in transit. If temperatures outside of these limits are recorded, a notification is sent to the sender and the receiver of the consignment. Smart contracts also create secure, immutable and auditable records of shipment conditions to meet customer and regulatory interests.
The Modum platform is blockchain agnostic, although the company claims to have tested the service on Ethereum so far with two major clients. One of the crucial goals of Modum is to innovate emerging blockchain technologies for logistics, then apply that technology to an established industry – like pharmaceuticals.
Modum is a business that possesses a real product focused on solving a real business use-case. To do that, Modum uses a combination of IoT sensors and blockchain technology.
They are interested in monitoring a wide range of environmental variables from moisture, light, acceleration, and sound to chemical exposure and specific levels or balances required. Modum offers the first solution to substantially reduce these costs, by integrating a temperature sensor into medicinal shipments to monitor its temperature. All data is recorded into the Ethereum blockchain, ensuring full transparency, accountability and data integrity. If there is a temperature deviation at any point during the entire process, the sender/receiver will get a notification to inform them of the anomaly. This represents a cost-effective way of monitoring temperature changes along the medicinal supply chain.
Together, these platforms provide data integrity during the transaction of physical products. Sensors scan the physical product, and a record of that scan is recorded into the blockchain. Modum provides blockchain-based data integrity for physical products using a combination of IoT sensors and blockchain technology. Review.Network is a project that aims to create a unique trusted high-intelligence user-company feedback platform based on blockchain and AI technologies. Review.Network provides direct communication between companies and customers, that helps carry on efficient top-tier market research feedback without any mediator.