modum.io, a Zurich, Switzerland company combines IoT sensors with blockchain technology to provide data integrity for transactions of physical products, streamlining supply chain processes in many sectors.
The modum system:
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.
A Real Company
Founded in 2016, modum.io AG is a tech startup developing systems to improve supply chain processes by combining the best of blockchain
technology and the Internet of Things. Based in Zurich, between the “Crypto Valley” in Zug, a hotspot for fintech and cryptocurrency innovation,and Basel, a European pharma hub, modum.io is perfectly located to bring an innovative compliance machine to market.