04 Oct modum.io and the CSG secure project funding through the Commission for Technology & Innovation
The modum team and our partners at Communication Systems Group at The University of Zurich are excited to announce that we have received funding to complete a research project under the Swiss Commission for Technology and Innovation.
The Commission for Technology and Innovation (CTI) was set up by the Federal Council in 1943 to promote scientific research, applied research, and development. Since then, it has evolved to promote job creation and innovation generally. Today the CTI works to support innovation projects that would not be possible without funding, helping to realize market potential, improve the competitiveness of Swiss businesses, and create a strong, innovative economy in Switzerland.
The commission identifies obstacles to innovation and provides instruments to help overcome barriers existing between public research institutions and the private sector. Since 2015, the CTI has provided over 200 million CHF per year for new projects.
The Communication Systems Group (CSG) at the University of Zurich with modum.io was successful in receiving funding for a research project in the area of “Enabling Sciences”. The project, led by Dr. Thomas Bocek and Dr. Stefan Weber and entitled “Blockchain Based Temperature Monitoring for Cold Chains in Medical Drug Distribution (BC4CC)”, will provide in-depth research on the technology behind modum’s value proposition: to develop novel methods for supporting the cold-chain distribution process of medical drugs using blockchain technology. The research will help modum.io to achieve its commercial goal to reduce the cost of delivery while assuring a regulation compliant temperature tracking using IoT-sensors.
The research will develop modum’s mission to use a blockchain-based ecosystem in order to create transparency and trust throughout the global supply chain, while enforcing statutes, quality requirements, regulations, and monetary contracts. The research proposal addresses two critical items: market penetration and blockchain agnosticism.
Market penetration will be addressed by developing an open API for other logistics service providers. An API could increase the number of logistics players using the modum system, having a positive impact on modum’s sustainability and reach.
Towards a goal of blockchain agnosticism, the project will explore methods of providing numerous blockchain backends for our customers. The ability to leverage multiple blockchains will enable modum.io to have the potential to serve high-volume and high-throughput business needs.
Generally, modum.io will benefit greatly from the enhanced collaboration with the CSG at The University of Zurich and by participating in a CTI program. The Communication Systems Group will dedicate several high quality researchers to the project. With each diving deeply into the outlined topics, their efforts will contribute directly to building technological and market innovation at modum.io. Having dedicated researchers will allow modum.io to build its platform quickly and effectively to reach its long-term strategic goals. The program will enhance the relationship between the CSG and modum.io, helping modum.io to benefit from some of the best talent in the field. modum.io will also benefit from being a member of the CTI network of start-ups, companies, and research groups that are driving innovation in Switzerland. CTI projects are among the most innovative, ambitious, and brightest projects in Switzerland, if not the world, and modum.io is excited to be a part of this ecosystem over the next two years.