Initial start up and Idea
Co-Founder, Marc Degan, sat with the modum.io team in 2017 to work on this solution for the pharmaceutical supply chain industry
What is a token sale?
These faced particular pressure from the new regulations because a fully integrated system was needed to record all environmental conditions since some products needed ambient cooling and others were temperature sensitive or light sensitive.
What are Mail-Order Pharmacies
These two things brought about modum.io’s early development as a company
What are funding experience and industry insights contributed by Degen and his co-founders
A clear, simple, and transparent token sale
What is Modum.io’s goal to increase prospective investors confidence
A token sale technology solution to a major problem in the pharmaceutical supply chain industry
What is an Initial Coin Offering - ICO
Streamlining supply chain, processes by combining blockchain technology and proprietary hardware to provide an efficient, reliable, and secure shipment monitoring solution
What are the core business ideas for modum.io.
The time, complexity, and effort required to verify that pharmaceutical products remained uncompromised during transit would dramatically increase the costs of handling pharmaceutical products through all stages of the supply chain
What are New Good Delivery Practice (GDP) Regulations
The number of executed votes within the two-week time frame, and simple majority was required to decide if the milestone was attained
What is a quorum
This was built by modium.io and was attached to temperature-sensitive shipments and logged the climate conditions at regular intervals
What is a sensor device
These two potential pathways were used to find alternative funding options for modium.io
What are: (1) invest more of their personal finances in the venture until negotiations with investors could resume or (2) pursue a novel funding alternative, an ICO
By 2017, few blockchain applications existed outside the cryptocurrency ecosystem. Many observers believed the technology would ultimately improve physical business processes such as ______
What is supply chain management
These four things led to Degen and his cofounders to explore the ICO option
What are a dire need for cash, choosing not to invest their own money, disagreeable terms with investors, and time-consuming process
For modum.io and many other blockchain companies, _____________ and _____________ were important to sustaining the community’s interest and thereby increasing word-of-mouth exposure
What are transparency and communication
Cryptocurrency is this type of technology
What is disruptive technology
Spring 2016 saw the launch of modium.io in collaboration with the Communication Systems Group at the University of Zurich in Switzerland launching the first pilot projects with these two companies
Who are Schaer Pharma and Voigt AG
The 4 advantages to using the blockchain technology that gave modum.io an upper hand over its competitors
What are: Securing the data, Smart contract automation, Data accessibility, & Trust-building transparency
This describes modum.io’s use of a network of investors, clients, supporters, angel investors and venture capitalists
What is blockchain
The utility token model can be very constraining. Start-ups need to iterate as they learn more about their markets, but with a token, you write all the smart contracts in advance. This token is tied to what specific service offering
What is a utility token
Token design was a key component of launching an ICO. The functions of a token and terms of an IXO are coded as
What are immutable smart contracts