Nowadays, a huge number of programs based on the Blockchain or ICO projects are being created. Even because of the large number of times, it’s a long time that we come across a underestimated cryptocurrency with a great team or product, but it’s still waiting to use its potential. Let us introduce you to a cryptocurrency named Modum (MOD).
What is Modum?
Modum combines IoT (Internet of Things) sensors with blockchain technology that ensures data integrity for transactions with physical products and streamlines supply chain processes across many industries. Modum sensors record the conditions of transport environment thanks to intelligent contracts on the Ethereum platform. The contract verifies that the transaction meets all the parameters set by the customer, their clients or the regulator. Modum.io AG, founded in 2016, is an emerging technology to improve supply chain processes by combining the best of Blockchain and IoT technology. Modum.io is perfectly positioned to bring an innovative product to the market. Modum.io seeks to streamline their business processes with new technologies. They work with their clients to find pragmatic solutions that enable their customers to use the most innovative technology on the market. They use the same technologies that help their clients reduce costs and increase security, transparency and profit.
How does it work?
Modum system can be easily integrated into existing logistics processes. Managers are ensuring the quality and set the approved ranges for each product before shipping. The first step can be done remotely by using DashBoard. A unique shipping identifier for each plot is paired with a modular temperature recorder. The combined temperature range for the shipment, shipment ID and sensor ID are used to create a specific smart contract for each shipment. During sending, the sensor monitors the temperature. When the shipment changes ownership, the data can be read through the Bluetooth interface, allowing you to check the package without opening it.
Four system components
- Intelligent contracts
Intelligent contracts are verified sets of parameters that are publicly available in Blockchain technology. Intelligent contract guidelines can trigger measures within the supply chain. At present, clientele of this cryptomania in pharmaceutical logistics uses intelligent contracts due to the alarming storage of medicines in transport. If temperatures above the thresholds are registered, an alert will be sent to the sender and the recipient.
- IoT sensor devices
These are fully programmable devices that allow you to measure a number of environmental factors for packages. Sensor devices can be easily activated and attached to a shipment and can be programmed in advance. Until now Modum sensors have measured more than 500,000 data points for their customers.
- Smart phone application
Modum application allows easy integration into normal operations. By scanning the QR code of the sensor and the tracking number of the package, the sensor may be easily attached to the package with remote set criteria. The application also allows the recipient to retrieve data and alerts without opening the package.
Dashboard provides analysis for all Modum shipments. It allows you to preconfigure settings for specific products. Additionally, Dashbord allows filtering and bulk parsing, and can automate additional actions such as alerts, product returns, or re-dispatching in case of deviations.
Market capitalization Modum: $ 30,166,826
Volume (24h): $ 1,443,410
Tokens in circulation: 17,366,200
Total Tokens: 27,266,200
Price when writing this article: $ 1.56
Stocks: EtherDelta, Mercatox – Today he has entered two new Binance and Kucoin exchanges
Main Page: https://modum.io/
Cryptocurrency Modum is intrigued by product, team, marketing and great community. We recommend purchasing this cryptocurrency and holding it within 3 to 6 months. Known Youtuber Keith Wareign said in his latest video that he would not have wondered if Modum was crippled by $ 10 at the end of this year. Many people also compare it to crypt Walton ($ 4.70). We will definitely give this cryptocurrency a chance and we encourage you to do the same. Buy and hold!
Source: https://modum.io/, https://coinmarketcap.com/