Provide data integrity for transactions of physical products
Smart contract blockchain
Modum.io combines IoT sensors with blockchain technology to provide data integrity for transactions of physical products, streamlining supply chain processes in many sectors. The modum sensors record environmental conditions during shipments. When goods change ownership, the collected data is checked against the specific smart contract in the Ethereum blockchain. The contract validates that the transaction meets all of the standards set out by the customer, their clients or the regulator and triggers various actions: notifications to sender and receiver, payment, or release of goods
Modum wants to improve supply chains with the blockchain technology with the focus on the pharmaceutical industry. Their services leverage technologies, including IoT sensor devices, smart contracts, AI and machine learning algorithms to collect, process and analyze all of the data. The technology can be useful in the pharmaceutical industry especially, because the current regulations require the distributors to provide detailed data about how the products have been stored through the whole delivery process, as even temporary inappropriate temperature could affect them. Modum can therefore provide cheap and reliable method to provide the necessary information. The team undoubtedly is an advantage of the project, as it's very wide and consists of people experienced in logistics but also software development and blockchain technology. The website's design and the information provided there and in Whitepapers is very detailed.
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