Modum is a supply-chain system that integrates Blockchain technology, smart contracts and sensory devices into a single, passive solution. The integrative solution of Modum aims to enhance data integrity across the entire supply chain.
Modum’s initial focus will be towards the pharmaceutical industry, where recent regulatory changes in the European Union requires proof that shipped medicinal products have not been exposed to conditions (particularly temperature) that may have compromised their quality.
These regulations necessitates expensive procedures to transport medicinal products. In more technical terms, pharmaceutical companies must employ expensive temperature stabilized trucks and containers via 3rd party logistics providers to transport medicine.
ICO (initial coin offering)
The Modum ICO, based out of Switzerland managed to raise over $13,000,000 at the time, with 1 MOD token amounting to $1.00 USD.
MODsense
MODsense, Modum’s first solution, offers temperature monitoring for sensitive shipments. Users can pre-define dedicated requirements for each shipment and automatically evaluate performance and conformity upon readout.
The MODsense web application offers practical deviation management, which includes instant notifications for temperature excursions and other events.
The MODsense T data logger is designed with warehousing and logistics processes in mind. The entire solution can be seamlessly integrated into existing workflows, track-and-trace systems, and ERP solutions, among others.
MODlink
With MODlink, Modum offers solutions that share the trusted events collected by MODsense within a network of supply chain stakeholders.
Important information can be easily exchanged using a blockchain network, allowing the IT systems of different enterprise stakeholders in a supply chain to exchange valuable data without exposing underlying or sensitive data from within their organization.
MODsight
With MODsight, Modum offers its users organization solutions that provide deeper insight into your supply chain. Their platform uses advanced analytical models and machine learning techniques based on trusted data from MODsense data loggers, companies’ enterprise data, and other relevant data sources.
Token
Modum does not have any native token proposition whatsoever, which means that its token essentially acts as a share of the company. This means that the only reason why Modum hosted an ICO is to circumvent the regulatory process that requires hosting an IPO (initial public offering) for a legitimate company.
Overall, Modum is a legitimate project. While it doesn’t have any need for a token of its own, it more than makes up for it with technology it offers and the partnerships it has secured, with partners including SAP, Vario Systems and AWS. The company has a working product and that is already being applied in its relevant industries, making it quite a solid pick when it comes to investing.
