Modum Whitepaper

Abstract

Blockchain for supply chains” has become a prominent, and very promising
application scenario for blockchains, enabling transparency between
untrusted partners and traceability throughout production processes.
The advantage of using blockchain technology in the supply chain is that it
provides an open, immutable, global, online ledger for transactions, which
includes a verification mechanism.

Recently, various start-ups (Chronicled, Everledger, Skuchain, Blockverify,
ubirch, Provenance etc.) and large corporate players (IBM, Microsoft,
Walmart, Maersk, BHP Billiton, etc.) have begun to run proof-of-concept
studies, committing significant R&D resources to building new platforms
and fostering international collaborations.

In mid 2016, when modum.io began operations, only a few working blockchain
infrastructures were available. modum.io opted to use blockchains
with proven industry applications. This decision allows the modum team
to focus on the development of the business case and to be able to stay
relatively neutral or “agnostic” with respect to the growing portfolio of
blockchain solutions.

modum.io chose the pharma industry as its first business case because
this sector requires highly automated and cost-effective logistics solutions,
which guarantee data integrity. As the pharma industry has one
of the highest standards for product safety, security, and stability, it is
the ideal candidate to act as a “blockchain-enabler”; having successfully
proven a viable blockchain solution with the highest requirements, scaling
into other verticals is feasible.

The general maturity of the Ethereum network and development stage
of Solidity validated modum.io’s choice to use Ethereum for its pilots or
proof-of-concepts. While Ethereum remains one of the most cutting-edge
blockchains with great developer and commercial interest, modum.io
will stay open to other options for blockchain use in this rapidly changing
market.

In particular, requirements from our clients for permissioned blockchains
or systems with low or no transaction fees call for substantial flexibility
and resources from modum.io in order to truly become and remain
blockchain agnostic. From a risk-perspective, social and technical uncertainties
of blockchain infrastructures (governance, scalability, interoperability),
make blockchain agnosticism an essential foundation of modum’s
business strategy in order to be able to provide the best infrastructure to
every customer.

Modum Website
Modum Whitepaper

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