What is Modum Coin (MOD)?
MOD Coin Price
What is Modum | A Quick Overview
Utilizing IoT sensors and blockchain technology, Modum was created to bring supply chain onto the blockchain instilling data integrity within the supply chain industry.
They offer a passive monitoring solution for transactions involving physical products to streamline supply chain process in many sectors.
The History of Modum Coin
In 2016 the board of directors and advisory board came together and realized that tokenizing the Modum platform made sense.
Thus, resulting in MOD coin.
They went on to get a team of engineers from the University of Zurich to assemble and complete the token via a Kickstarter accelerator in 2016.
After it was completed, they won the Future Emerging Technology Vertical leading them to creating AG in Switzerland and starting pilot projects around Europe.
In September of 2017, they started their token sale.
They have been developing their product and building partnerships since.
The Modum Coin Team
Simon Dössegger - Linkedin - CEO
Entrepreneur, product and technology manager with an engineering background and experience in successfully leading companies and projects in robotics, machine vision, IoT, and blockchain.
Passionate about commercializing new technologies by designing market-fitting products and leading interdisciplinary teams to deliver profitable solutions sustainably (from Linkedin).
Stefan M. Weber - Linkedin - COO
Responsible for IoT sensors using Blockchain and Smart Contract technology providing data integrity for transactions of physical assets, e.g., in the Pharma supply chain (from Linkedin).
Total MOD Coin Supply - 27,266,200 MOD
The Purpose of Modum Cryptocurrency
The internet of things is a huge platform and concept.
But, to perform adequately and without malicious intent, there needs to be an incentive, in this case, with supply chain management, that is MOD coins.
See Modum was created to help make Supply Chains more honest and trusted.
With plenty of goods going to waste or being counterfeit, companies lose a lot of valuable product and money on bad supply chains.
By tokenizing and embedding smart chips throughout the physical products, one can tell temperature and physical conditions of the products.
Showing which suppliers and wherein the supply chain things go wrong.
Which are the reasons Modum was started and MOD coin created...
To help build an IoT, agnostic to all blockchains, that can be utilized by any company looking for the best supply chain management they can find.
The Features of Modum Coin
By integrating emerging blockchain technologies, they have been applying it in an already established industry.
This is helping MOD coin create a set of guidelines and accountability concerns that will allow them to expand to all physical goods.
Essentially this means that Modum helps facilitate the internet of things (IoT).
What is the Internet of Things (IoT)?
The IoT is
“the network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these objects to connect and exchange data. Each thing is uniquely identifiable through its embedded computing system but is able to inter-operate within the existing Internet infrastructure.”(1)
Using an IoT sensor-based device, Modum can help to facilitate and create the IoT.
During a test with Texas Instruments, the validity of the chip was shown, and their temperature based logger will be released in Q1 of 2018.
Long-term they are aiming to monitor all conditions that can affect physical products.
The way that they designed Modum and MOD coins is not for one blockchain.
In fact, they are currently pursuing:
The pharmaceutical launch was on Ethereum, as it is the most developed blockchains and simple in the execution of a smart contract.
For now, they will be utilizing Ethereum but will be investigating integrations to the other blockchains above.
MOD Token Uses
The MOD token was created to allow people to have voting rights and stakes within the Modum.io ecosystem.
It also allows for profit sharing rights.
Profit sharing happens by (2):
A payment, equivalent to the part of the profit generated by modum.io AG, which is used for dividend payments as proposed by the board of modum and subsequently enacted by the shareholders, will be forwarded to all MOD token holders. The profit in CHF is converted to Ether and sent to the modum smart contract. The smart contract evaluates the current holdings and distributes the profits to token holders in Ether. Tokens that are locked for the shareholders of modum do not come with profit participation rights while they are locked.
A Macroeconomic Look At MOD Coin
When it comes to supplying chain management, some systems desperately need to be updated.
Besides from spoiled food and fake pharmaceuticals, there are countless of counterfeit goods, misplaced products, and other events that can and do occur.
MOD coin has a chance to play a major role in that market.
By tracking pharma and other physical goods, and helping to show the conditions they are in, it can help save companies a lot of money by only working with reputable, reliable companies in the supply chain.
Supply chain management software and applications run around a $13.3 billion industry(3).
What We Think of Modum Coin
Modum is comparable to Waltonchain and Vechain in their missions to help improve supply chain management and bring it onto the blockchain.
This is a massive industry and one that will likely have multiple companies involved.
By being decentralized and having executable smart contracts measuring the temperature and much more, this is a great way to track and improve the honesty in the supply chain.
We currently do not hold any MOD coins.
As they release products and test the working pharmaceutical product we will be following the coin closely.
If you liked this review and want to help support the academy donate some MOD below!
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