Modum is a blockchain-based data integrity platform that aims at enhancing data integrity for physical products. The Modum platform wants to streamline the supply chain processes across various industries worldwide. To achieve that Modum uses the blockchain and the IoT technology to provide data integrity. The sensors scan the products and record it on the blockchain. Modum sensors can record during shipping. It records starting from the time the goods change ownership.
User’s friendly smartphone App: Modum mobile software platform allows the logistic team of your company to equip and configure shipments with sensors through Android apps and iOS. It allows logistics to be done in real time.
Reliable and cost-efficient sensors: Modum compact sensor devices can track the condition of your shipments and send you a feedback about the exact conditions your shipment is in. It finds the environmental condition of your product from start to finish.
Smart contracts: Smart contracts verify through decentralized blockchain technology are used to Insure your shipments. You can automate the process and verify the product compliance with external and internal regulations.
Insightful analytics dashboard: Using the back-end analytics, people can review their shipments. Modum customer-based system is designed for immediate and efficient comprehension.
Modum Video Explanation
The Modum has three key features outlines on the Modum official website.
Modum is a blockchain agnostic, meaning the smart contracts can be used on any blockchain. The company has partnered with other companies that use the Ethereum platform to ensure stability and simplicity when creating smart contracts.
The Modum system relies heavily on a secure IoT sensor device that is responsible for scanning physician products and then recording information on the blockchain. The sensors work by scanning a code on the packaging.
Modum crucial goals are to innovate emerging blockchain technologies for logistics and apply it to an established industry like pharmaceuticals. Their vision is to provide data integrity and increase transparency and facilitate process automation.
Modum is based in Zurich, Switzerland. It was founded in 2016 and has already partnered with leading parcel distributors and a Basel-based pharmaceutical company. It was among the six nominees for the logistic TIP prize that was held in Zurich on 25th April. Modum is target Pharmaceutical industry because it is crucial to control the shipment of pharmaceutical finished products and ingredients. The team includes multiple PhDs, financial experts, supply chain experts, and blockchain technologies.