Modum. a Zürich-based developer of data integrity for the supply chain, is the latest distributed ledger technology and crypto-focused startup to join the Bitcoin Association Switzerland as a corporate member. The company combines IoT sensor devices with blockchain technology to provide data integrity for transactions involving physical goods and streamlines supply chain management in many sectors.
Modum Leveraging Blockchain
Their sensors record environmental conditions while the physical products are in shipment. When a change of ownership occurs, the collected data is checked against the specific smart contract in the Ethereum blockchain. This contract validates whether the transaction meets all of the standards promised by the sender to the client and the regulator and then triggers appropriate actions such as notifications to the sender, confirmation of payments or release the goods.
“The Bitcoin Association is happy to support the fast growth of the Swiss cryptocurrency and blockchain ecosystem and invites every startup to join our ranks to collaborate with our shared community.”
– Lucas Betschart of the Bitcoin Association Switzerland
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