modum.io CEO, Malik El Bay, explains: “Integrating IOTA tokens as a participation possibility for our token sale is just the first step in a long-term strategic partnership. To execute our vision we need a technology for our sensor devices, allowing the transfer of value without charging tremendous transaction fees. For this reason, modum highly values IOTA’s infrastructure and we are aiming to integrate it as soon as possible into the modum system. The IOTA foundation and modum.io will be partnering to deliver a proof-of-concept for our next industry tests and we plan to publish the results by fall 2017.” He continues: “Since we are blockchain agnostic, we are always evaluating different technologies and protocols for our product and IOTA’s innovative approach with the Tangle has put it at the top of our list of technologies.”
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 IoT. Based in Zürich, between the “Crypto Valley” in Zug, a hot spot for fintech and cryptocurrency innovation, and Basel, a European pharma hub where Novartis and Hoffmann-La Roche are headquartered, modum.io is perfectly located to bring our innovative compliance machine to market.
At modum.io we strive to make all of our client’s business processes more efficient and streamlined through the use of emerging technologies. We work with our clients to find pragmatic solutions that enable their customers, often the end user, to benefit from the most innovative technologies on the market. We leverage these same technologies to help our clients reduce costs and increase security, transparency, and profit.