(MOD) – MODUM
What is MOD?
Modum is a supply-chain system, integrating Blockchain, smart contracts, and sensory devices into a singular solution. Modum aims to improve data integrity across entire supply chains using their sensory devices. Their main focus, in the beginning, will be targeting the pharmaceutical industry where recent regulatory changes in the European Union requires proof that shipped medicinal products have not been exposed to conditions, particularly temperatures, that may have compromised their quality.
This new change in regulation opens a door of opportunity for Modum. Companies will need to employ temperature stabilized trucks, and 3rd party logistics providers to transport pharmaceuticals. Modum offers the solution by integrating a temperature sensor into medicinal shipments to monitor temperature. By recording all of this data onto the Ethereum blockchain it will ensure transparency, accountability, and data integrity. If a temperature deviation takes place at any time, the sender/receiver will get a notification to inform them of the potential problem. This will present a cost-effective way to monitor temperature changes along any supply chain.
(MOD) Long Term Goals
Modums long terms goals are to provide a platform for data integrity. Using the Internet-Of-Things technology as it progresses, and integrating more features into their sensor technology to monitor all of the conditions that affect products while in transit. By expanding their sensor technology to be able to monitor not only temperature but, humidity, light, moisture, and other environmental variables. This would allow Modum to venture into other supply chain markets such as Healthcare, Chemical Industry, Heavy Machinery, Automotive, Aerospace, Aviation, and the Food Sector.
Modum Team / Advisors
The CEO of Modum, Simon Dossegger, was a mechanical engineer and has held a senior product & technology management role at GoPro whose development team is full of individuals specializing in sensory tech, IoT, and blockchain technology.
Coupled with a highly impressive list of advisers from the pharmaceutical, investment banking, and computing industries. Some of which include Pascal Degen, Director at Novartis. For those who may not know, Novartis is the 4th largest pharmaceutical company in the world by revenue. This is a very important indicator. The size and potential volume a Novartis partnership could bring to a low market cap token such as Modum could mean MOD is still a diamond in the rough per se. Additionally, the advisory team has, Werner Sporri, Chairman of S&K partners. Michael Schaer, founder of Schaer Pharma.
Modum completed 3 pilot tests in 2016 using its technology. The first test successfully tracked the temperature of most shipments. 10,000 data points were recorded by their device. This test was able to highlight key areas of improvement such as increased data speed, better device connectivity with mobile apps, and creating a dashboard for data analytics.
In their 2nd pilot test, Modum monitored shipments between a wholesaler, several clinics, and pharmacies whereby shipment volumes were scaled up. All of the improvements from the first test were address and tested successfully.
Modums 3rd pilot consisted of two phases. The first phase, customer processes were implemented and stabilized. In the second phase, additional efforts and the duration of temperature data read-out process was quantified, easily surpassing all objectives. Modum was able to achieve an average readout time of 8 seconds for 100% of its shipments, with the goal being 95% of all readouts in 30 seconds.
Milestone 2 (1st Quarter, 2018): Mass production of their sensory devices and the development of the product ecosystem, together with integration with Ethereum blockchain. They’re also looking to explore integration with other blockchains that includes IOTA, NEO, Fabric, ETC or Rootstock.
Milestone 3 (1st Quarter, 2019): Delivery of the next-generation sensor integrated with emerging technologies and additional environmental variable (e.g. light/humidity sensor).
Milestone 4 (1st Quarter, 2020): Delivery of the next-generation sensor with an on-chip blockchain node with the integration of more environmental variables. The complete Modum software will be delivered in a fully decentralized architecture.
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