CEO Update, May 2018
CEO Update, May 2018
May 30, 2018
The intention of MOD Day was to create an opportunity for our entire ecosystem – stakeholders, collaborators, token holders, suppliers, industry advocates, and the tech community – to come together and share insights and ideas on the problems that Modum is tackling. As I described in my keynote, MOD Day was not an ancillary activity, the event was a manifestation of the way we work: consistently iterating on our solutions with our customers and partners, participating with advocacy groups to understand future challenges, and engaging industry experts to maintain a firm grasp on how our applications can have an impact.
To this end, the team believes the meetup to have been a great success. Over 140 people attended, representing a variety of industries and interests. Our speakers were able to share their thoughts on regulated environments, supply chain logistics, technology, and temperature monitoring, as well as blockchain and IoT integration to a diverse audience. We hope that these presentations provide valuable context about modum’s operations for MOD Token holders. We are excited to have had Swiss Post and SAP speak at the event and outline our collaborations with each of them. And, of course, I was able to make a few new announcements regarding our product, partnership with Deloitte, expanding solution offering, as well as our work with SAP.
I would like to use the structure of my keynote address at MOD Day as the basis for this month’s CEO update. My keynote, much like these monthly updates, was an opportunity to continue to bring clarity to modum’s progress. It also gives me the chance to reiterate these exciting announcements.
MOD Day Perspective
As I prepared for MOD Day and began to outline a summary of modum’s key activities over the past year I chose to focus on the values that we have cultivated while pursuing our vision of transforming the invisible information that lies dormant in our customer’s supply chains into their most valuable intelligence. They are as follows:
Strong teamwork focused on the success of our partners: Assembling a team with unique talents and diverse skills is an ongoing priority. It is fundamental to our success and the success of our partners that we can reliably deliver what we promise.
Commitment to be reliable and quality-oriented: Developing an application that facilitates regulatory compliance is a big undertaking for a start-up endeavor. We are committed to overcoming the challenges ahead to become a reliable partner that brings quality solutions to our clients.
Partnerships to create lasting value: modum remains committed to developing trusted partnerships through transparency. We can take on new markets, sectors, and opportunities by leveraging strong, mutually beneficial relationships.
Innovation is crucial to solve tomorrows challenges: modum is dedicated to connecting with industry in order to tackle unresolved challenges. We focus on solving real-world problems by designing valuable, impactful solutions.
The modum team is currently working hard towards launching our first product with select customers at the end of Q3 this year. As we announced in April, we are working with Swiss Post, for example, to integrate our blockchain solution into their track and trace system to provide an innovative solution for the monitoring of last mile parcels containing medicinal products in Switzerland. Our goal is to create a solution where every Swiss Post mail carrier can readout our loggers automatically when delivering a parcel, without having to know that a modum logger is inside, allowing quick and reliable notification of recipients with minimal effort. At MOD Day, Thomas Wälchli, Swiss Post’s Head of Business Development & Industry Solutions joined us to outline the potential of this solution and why they picked modum as a partner.
Modum is also in the process of partnering with Deloitte and have just set up a customer demonstration environment in their Zurich offices. We believe a collaboration with Deloitte, as a leader in application implementation, is a unique opportunity to address the needs of our customers at the enterprise scale. At MOD Day, Markus Koch, Head of Strategic Development Consumer & Industrial Products at Deloitte joined the panel discussion to contribute further insights.
Finally, some insights about our partnership with SAP. As announced, we started working with the Co-Innovation Lab Switzerland a couple of months ago to explore the integration of our solution into the SAP ecosystem. We believe that pairing our sensor with shipments at high volumes will be easier to manage if modum’s solution is integrated into ERP and warehouse management systems. In addition, the blockchain strategies of modum and SAP are well aligned. We have therefore decided to integrate the SAP Hyperledger Fabric blockchain into our product. We will reveal more insights about our joint efforts at Sapphire in Orlando next week. As a surprise guest at MOD Day, Christian Jeschke, Senior Software Developer from SAP, presented a short demonstration of how modum’s solution could look when integrated in the SAP cloud platform, already running on Hyperledger Fabric.
So where do we go from here? At MOD Day, I closed my keynote with a brief forecast that outlined our current goals and new elements of our growth strategy.
Currently, we are very focused on market entry, establishing a commercially viable solution with Swiss Post. We will increase our business development activities in Q3; as a tool for business development, I announced our forthcoming evaluation kit (see image above) that we will make available later this summer. The kit, which was available for preview at MOD Day, will allow interested customers to experience and evaluate the modum solution with a minimal configuration. The kit will be available for order on our new website, which is under development.
As we grow our business we will expand our solutions, to include three key services:
Sensing & Monitoring: at the basis of our solutions, sensing and monitoring will remain a key component, allowing us to collect invaluable data and transform it into intelligence for our customers using our blockchain-based data monitoring services. Acquiring trusted data is a prerequisite for any other applications, but also an ideal market-entry point: providing compliance as a service for last-mile pharmaceutical distribution enables us to provide an urgently needed, regulatory-driven solution.
Events & Actions: because we are establishing a trusted link between physical goods to a blockchain environment with our Sensing & Monitoring solutions, we are able to create trusted events. These events (for example a digital recording of the product’s state and events affecting it based on real-world evidence) are a fundamental enabler for the further automation of business processes. This is because the blockchain allows us to share these events across different enterprise IT silos without exposing underlying confidential data. In our first applications, events and actions are guaranteed notifications in the case of temperature excursions for particular shipments. We are designing the sensing processes and devices that are generating these events, making it clear that Modum is well positioned to add further value by allowing other parties to access and leverage them.
Analytics & Predictions: we can also use the application know-how that we gain designing the data acquisition processes and devices to aggregate these trusted events, combining them with external data sources, and delivering advanced analytics and predictions driven by machine learning to optimize the supply chain even further in real-time.
To create increasing value and deliver on these application opportunities, it is crucial to tap into enterprise IT systems and have capable implementation partners that can work out specific solutions for customers. This is why partnerships with SAP and Deloitte bring such tremendous value. Modum is providing scalable solutions to acquire, compile, and share trusted data while SAP and Deloitte help us to address customer needs and implement solutions at a global scale. Stay tuned next week for another update on our collaboration with SAP live from SAPPHIRE NOW as Modum founder Marc Degen presents alongside SAP’s Head of Blockchain Torsten Zube.
Token Milestone Voting
We are incredibly excited to progress towards all the opportunities that lie ahead. As such, we will begin voting on our second token voting in about a month’s time. In the next two weeks, we will provide all of the necessary information for our token holders to vote. We will announce this in a separate blog post that will be shared via our newsletter and community channels.
To conclude, thank you to everyone again for coming to MOD Day and for all those who have shared their photos and thoughts on our various channels for the entire token holder community to see; we appreciate your feedback. Also, please stay tuned for more highlights from MOD Day. We hope to release the photos and video in the next week or two. We also look forward to a high participation in our second milestone voting, so please, watch out for our updates and please contact us on telegram or reddit with your questions.
-Simon Dössegger, CEO
April 30th, 2018