Modum enables supply chain player to visualize product state and cut costs of supply chain of pharmaceuticals by blockchain and Iot sensor, smart contract. So, this project is to optimize logistics process.
Social background
It takes many costs for enterprise in Europe to meet "GDP(Good Distribution Practice)".
blockchain solution of Social background
User can acquire product state data from Iot sensor. Data from Iot sensor ensures integrity of information.
Blockchain ensures traceability of data.So, logistics process in supply chain becomes efficient.
System of Modum project
Modum can record product state into blockchain by Iot sensor from place of shipment to destination.
Using Proof of Existence, Product state are recorded into blockchain with time.
When Ownership of product moves to another players, the collected data(temperature, track record) collate smart contract exclusively for the product in order to validate if business operators meet GDP and the criteria which client sets. And the result are sent to shipping and receiving enterprise.
Product design
analysis dashboard, IOt sensor, mobile app
Use case of token
a profit share token with voting and profit participation rights.
token holder will vote to decide if the milestone are met and release the locked tokens.
Locked tokens don't have profit share nor voting rights.
Modum whitepaper: https://modum.io/wp-content/uploads/2017/08/modum-whitepaper-v.-1.0.pdf
Modum's Superiority for existing social
Product state are recorded with reliability by blockchain and Iot sensor.So, ship's comparison by dash board analysis is possible. And it becomes easy for user to refrigeration truck optimization.
Topicality
Modum receive supports from University of Zurich.
Concern
There is a possibility that Modum token is not distributed. Because User can't use token in Modum economy.
If GDP restriction in Europe is relaxed, Modum project will be uncertain.
