18 Dec modum.io AG Joins The Trusted IoT Alliance
Zurich, Switzerland, Dec. 12, 2017 — modum.io AG announced today that it joins The Trusted IoT Alliance, an open source software consortium that aims to create a secure, scalable, interoperable, and trusted Internet of Things (IoT) ecosystem.
As a member of the Trusted IoT Alliance, modum.io will work collaboratively with Fortune 500 companies and startups to develop and support the ecosystem at the intersection of blockchain and IoT. The Trusted IoT Alliance was founded by industry leaders and seeks to standardize an open source blockchain protocol to support IoT technology in major industries worldwide.
According to The Trusted IoT Alliance Executive Director, Zaki Manian:
“The Trusted IoT Alliance aims to increase interoperability and interworking, while maintaining a blockchain agnostic philosophy. The alliance is working with companies like modum.io to further the goal of developing standards, certification, technical advancements and business opportunities. An important part of our work with companies like modum.io is registering IoT devices and creating event logs on decentralized systems, which in turn will lead to a trusted IoT ecosystem that links cryptographic registration, ‘thing’ identities, and metadata. This level of trust will spur the possibility of other applications in payment, government, and enterprise benefiting Trusted IoT Alliance members and the industry as a whole.”
modum’s Chief Operating Officer, Dr. Stefan Weber, who is responsible for the company’s IoT strategy agrees that contributing to The Trusted IoT Alliance’s mission is a great opportunity for modum’s technology capabilities to benefit the field:
“We are proud to be the newest addition to The Trusted IoT Alliance’s roster of major players in the innovation and IoT ecosystem. modum.io is entering the logistics market with a ‘Pharma-first’ strategy, providing manufacturers and distributors with an efficient solution to meet GDP (Good Distribution Practice) regulations within Europe and worldwide. The Pharma industry’s high standards for product safety, security, and stability make our first use case the ideal ‘blockchain enabler’. modum.io is eager to pave the way for blockchain technology in many verticals and across the global supply chain. With our market ready product, our blockchain based temperature and acceleration logger designed for Pharma, we have a great deal of industry specific experience to contribute to the Alliance.”
modum.io has joined the Trusted IoT Alliance to expand their ecosystem and grow their IoT and blockchain strategy by working alongside likeminded companies. Currently, the first generation of modum’s temperature loggers enables an end-to-end cold-chain monitoring and tracking solution for pharmaceutical supply chains. Considering modum’s ambitious hardware development and customer integration program, the company is well positioned to contribute to the Alliance’s body of knowledge with regard to protocol, identity, standardization, and device security.
About the Trusted IoT Alliance
The Alliance offers an inclusive membership model and annual events to connect Fortune 500 companies, software developers, and blockchain tech companies. The Trusted IoT Alliance is an open source software foundation, which aims to help its members exploit commercial value at the intersection of blockchain and IoT ecosystems. Member organizations are involved in projects that provide cryptographic identities to devices, machines, and supply chain hardware with a blockchain and smart contract powered backend. The Alliance coordinates POCs and testbeds, publishes open source code and standards, and awards small grants to support innovative open source projects.
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. modum.io strives to make all of their client’s business processes more efficient and streamlined through the use of emerging technologies.
Based in Zürich, between the “Crypto Valley” in Zug, a hot spot for fintech and cryptocurrency innovation, and Basel, a European Pharma hub, modum.io is perfectly located to bring its innovative compliance machine to market. modum.io has a team of more than 10 engineers, developers, marketers, and designers with partnerships at the University of Zurich and the University of St. Gallen.