Project
https://modum.io/system/
Modum.io combines IoT sensors with blockchain technology, providing data integrity for transactions involving physical products. modum.io offers a passive monitoring solution to streamline the supply chain processes in many sectors modum.
Data integrity for supply chain operations powered by Blockchain
- Market cap: $15 million
- Circulating supply: 18,266,200 MOD
- Total supply: 27,266,200 MOD
- Max supply: 27,266,200 MOD
Modum combines their Modum sensor system with IOTA’s tangle to transfer data from their sensor to the Dapps. The Modum sensors record environmental conditions that goods are subjected to while in transit. When goods change ownership, the sensor data is verified against predetermined conditions in a smart contract which is running on Ethereum.
The contract validates that conditions and requirements set by the sender are met.
To comply with new EU regulations over the distribution of medical products, pharma companies now require special logistics services. Modums solution guarantees compliance and has the potential to reduce 3 Billion USD spent anually on logistics services in the industry.
Now, as you can see, Modum will run on both IOTA’s Tangle and Ethereums blockhain. This is still in progress - and is not known how they will interact with ETH Blockchain.
Modum will therefore be able to add a high level of data integrity and authenticity.
Partnerships
Competitors
- Waltconchain
- Vechain
- Devery
- Cargox
- Wabi
- ShipChain
- Dovu
- Ambrosus
What makes Modum different from for example Walton and Vechain is that those two have bigger ambitions when it comes to markets. Modum is focused on pharma. It’s a more specialized company. Good or bad? Hard to say.
Team
RoadMap
Milestone 1 – expected earliest October 22nd, 2017: Completed
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: Completed
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 andmotion) 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 controlledby modum.io
Milestone 3 – expected earliest Q1/2019: In completion
Objective is to deliver the next sensor generation with real-time interaction(via current or emerging network technologies, like LoRaWAN). At least oneadditional environmental sensor is integrated (light or humidity) and anytwo additional blockchain back-ends of the following: IOTA, NEO, Fabric,ETC, Rootstock, Waves, Tezos, EOS or Cosmos, are supported. 3 million tokensare 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-chipblockchain node. An additional environmental sensors (e.g. light or humidity)is integrated and the complete modum software is delivered in afully decentralized architecture. 3 million tokens are upon positive votingreleased to a wallet controlled by modum.io.
The Token
The Modum Token has not unlike many other coins taken a nosedive from it’s top of around $12 and market cap of over $200 million. Now what’s impotant once again is the realities here. Modum is among several companies that are building their system on top of a Blockchain (and/or DAG Tangle) These types of companies are foward seeing companies that will outperform companies doing things the old way. Look at it like how Apple just killed a lot of competiton when it came to phones. But, Samsung is a good runner up, and companies like Sony and Huawey aren’t doing too bad either. There is room for competition.
This is still however a little different. It’s more like companies who didn’t start using the Internet. Those who did not adapt to Internet, died. Simple as that. Companies that do not adopt Blockchain technology will in many sectors die.
I don’t think the price of Modum is relevant right now. 15 million dollars is nothing in this more than $67 trillion dollar industry. Modum is however not aiming for the entire industry. They are aiming at the Pharma industry. The Pharma supply chain industry is a very complex one, and one could imagine companies need special infrastructure to comply with all the rules and regulations. The Pharma market is around $800 billion. 1% of that is $8 billion. A 250x increase from these levels.
Token Sale
modum.io is a company with a real product, commercial traction, and with major partnerships. Its token sale has been carefully crafted to relate to the reliability of our service offering. The primary goal of the token sale is to establish mechanisms for modum.io to efficiently execute its vision:‘to improve supply chain operations with emerging technology’ and to align the interest of token holders with the interests of the team. Therefore Lykke Corp. was chosen to advise on the token sale and all related activities
Summary
Project: Data integrity for supply chain operations powered by Blockchain
Competitors: Walton, Devery, Vechain, Cargox, Wabi, Dovu
Risk: Medium High
Team: 20
Partnerships: Lykke, Validity labs among others
Token: Fallen from $235 million USD to $15 million USD
Modum is definitely in the right business when it comes to sheer size. But also competition. WaltonChain and Vechain are much bigger, both in their plans and visions and in market cap. This of course means that the fall height for Walton and Vechain is much higher. Modum focuses on pharma supply/transportation while Walton is going for the entire supply chain industry as a whole.
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