What you need to know about Modum (MOD).
I am cross-posting my own post from /r CryptoCurrency.
Disclaimer: I do own Modum. Some might consider this a blatant shill. To those, i implore you to go through the whole post so you can realize that I'm offering valuable information.
Since there are those in the cryptoverse who expect BTC to correct sometime near the fork, those people might be looking to renivest their profits into the low MC alt coins. If you are one of those people then read on.
Post begins:
EU regulations (GDP 2013/C 343/01) that came out in 2013 required proof that all medicines,even those that are not temperature sensitive, have not being exposed to conditions (particularly specifying temperature) that may compromise their quality.
Note also that similar regulations in the US are likely soon to follow (draft chapter 1083: “Good Distribution Practice”). Since 2013, the only effective yet highly inefficient solution are temperature-stabilized trucks and containers from third-party logistics providers (3PLs). These are extremely expensive.
The vast majority of medicines are actually not temperature sensitive so there is no practical need to transport them in these expensive trucks yet it is necessary since there is no other way to prove their temperature has been controlled otherwise.
Modum solves this problem that has been around since 2013 with their temperature reading RFID chips (prototype ready) that are cheap enough to be scaled on this level. The pilot trials conducted with the largest last-mile logistics company in Switzerland concluded that the pharma industry can save 60% of their shipping costs with the Modum solution. Going back to the regulations, it is difficult to imagine big pharmas and delivery services all around the EU ignoring this 60 % cost reduction.
Currently, the modum system is being integrated into the system of the leading last-mile logistics service provider in Switzerland. modum.io is planning to finalize this integration in Q4/2017, using the first series of proprietary temperature loggers. Clients from the wholesaler and mailorder pharmacy segment are lined up. Upon successful completion, official market entry in Switzerland will begin in Q1/2018. Once integration has been established within our first client site, the logistics service provider can approach the SME pharma segment to offer the additional service.
And here are the additional features they are developing at the moment:
-Moisture
-Humidity
-Light
-Acceleration
-Movement
Not to mention, Supply chain management and the IoT industry are perhaps the largest industries (after finance) that blockchain is equipped and set to disrupt and revolutionize.
Now, let's talk about the team:
Guilherme Sperb Machado: Block-chain Specialist http://ift.tt/2Anpw9H
2 years in HP + presently also working in Swisscom, the leading telecom service provider in Switzerland.
Simon Dössegger : CEO http://ift.tt/2j43nsT
Senior project manager for GoPro (2 years).
Pascal Degen : Co-founder http://ift.tt/2AoxuiT
Head of process and logistics Novartis (5 years). For the uninformed, Novartis is one of the world's largest multinational pharmaceutical company. Revenues in 2016: US $48.5 billion.
Let that sink in for a moment.
Heinrich Zetlmayer : Advisor http://ift.tt/2j6IBsK
Vice-president of mothafuckin IBM (7 years).
You can check-out the full 17 team members, plus 4 advisers here: http://ift.tt/2vY9zHc
Here on, I'll address a few unnecessary criticisms of Modum and the MOD token that I see popping up:
The value of the MOD token:
1) Token holders hold the keys to the 8 million tokens (30% of total supply) that are owned by the team. The team only get paid when they perform, in other words, when token holders are happy.
The first vote to release one-third of these escrowed tokens will be in Q1 2018, aligning with milestone 2 (mass market entry). The 2nd in 2019 and the 3rd in 2020. In case a vote fails, it will be rescheduled for 3 months later until the majority of tokens holders vote yes to release the escrowed tokens to the team.
2) Even more importantly, every token holder will be given a dividend in Ether quarterly relative to the amount of tokens they own.
Now, I've seen a lot of unnecessary shit thrown at this token by FUDers and even some seemingly intelligent redditors alike because it is not a utility token.
This new theory that everyone has that tokens need to have "utility" just because it's the new buzz word is ignorant. Are you forgetting that the fact that the $18.5 trillion stock market based around of the exact same dividends formula. It's a tried and tested method. On the other hand, "utility" tokens are, as yet, untested for the most part. In any case, even utility tokens only become valuable when a company starts growing, which is akin to when a company starts generating profit. So what's the problem here?
Also of note is that tokenholders have a contractually guaranteed to payments equivalent to any dividends that might be granted to modum.io AG shareholders at any point in the future. The tokens are also represented as a liability on modum.io AG’s balance sheet, meaning that any potential merger or takeover activity would require tokenholders to be compensated or otherwise included in the transaction.
The tokenholders are protected.
There's also the "issue" of the MOD token being called a security, which it most definitely is. I don't see a problem there and neither should you. Let me explain.
Modum decided to take the ICO route to issue a security instead of more traditional methods. That does not make it wrong or illegal.
All they have done is raise capital in a new way, and while other companies are hiding behind the facade of "utility tokens" which are, lets face it, all securities, Modum is blatantly stating that they are issuing a new form of security.
ICOS, at the moment, are almost entirely unregulated and as the well-informed already know, regulations for ICOS that have issued tokens that can be classified as securities (99 %) will probably come sometime in 2018 with the US and the EU leading the way and the rest of the world following.
If you don't think that "utility" tokens are securities then just take a look at what makes a security:
The Howey Test:
1) invests their money
2) in a common enterprise
3) with an expectation of profits
4) based on the efforts of the promoter or a third party.
I'm sure points 1-4 apply to 99% of the people reading this post. Let's be honest here, almost all of us are traders and investors here, looking to profit.
Now, let's discuss the future of this token. Imagine the SEC decides that the Mod token is a security. So does the EU and Switzerland. Note that this will probably happen to 99 % of altcoins out there. One of two things will follow:
1) MOD is recognized as a security but since Modum has followed all the proper legal procedures and done their due diligence, they will be white-listed to be traded on exchanges. This is what I believe will happen since Modum is working pro-actively to ensure that the MOD token meets the criteria of any security and have a powerful network of people on their side.
2) Worst case scenario: The MOD token is banned from being traded on exchanges because it fails to meet a certain criteria. What then? Modum strives to meet that criteria by taking necessary legal procedures, filings and registrations or issuing real stock instead of the tokens and eventually gets listed back on exchanges.
If you'd like an even more detailed idea of where the MOD token stands in terms of it being a security and FINMA (the SEC of Switzerland), go through this amazing post by redditor Kaka221100:
For those that don't have the time, here's what the Modum communications officer Thilo Schweizer (you can find him on the Modum slack) had to say:
"We are in contact with the FINMA, we have had our token model and TGE reviewed by many lawyers, trustees and tax experts. We are fully confident that our company and token are 100% compliant with the applicable law [for securities]."
It is important to remember that regulations are necessary to protect investors from frauds, scams and bad decisions and not the other way around. There is absolutely no way that regulations can be a bad thing for MOD token holders.
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