The new Modex whitepaper is now available on our website. Elaborated under the strategic guidance of Mihai Ivascu, Modex CEO and Co-founder, and authored by Alin Iftemi (CBO and Co-founder), Dragos Rautu (CTO and Co-founder), Laura Manescu (CDO and Co-founder), Vlad Luca (CPO), Cristian Barbuia (COO), the new whitepaper offers complete technical details about Modex components, features, performance and integration mechanisms.
Since entering the market in 2017, Modex – one of the first companies to be registered as a Virtual Asset Service Provider by the Gibraltar Financial Services Commission – has constantly evolved. Our highly skilled core team of over 70 members with more than 100 years of cumulative experience at reputable global companies in banking, software, IT security & infrastructure, database engines, product development and international business is working round the clock to build the technology of the future. With a lean management approach and a dynamic structuring through a “team of teams”, Modex has migrated from a successful service oriented blockchain company towards a platform working as a service provider that incorporates and integrates a complete technology suite.
Modex innovates in order to prepare and integrate a mature decentralized network that is able to support a large number of use-cases and contribute to the last mile adoption problem: seamless integration with enterprise-level products and services. The Modex Network – one of the chapters of the new whitepaper – has been designed to offer a solid foundation for a multitude of applications that aim to experience interconnectivity with a stable and regulated decentralized finance ecosystem. All underlying components of Modex are developed in close collaboration with enterprise and international partners in order to match the modern rigours of security, scalability and interoperability.
Modex Blockchain Database (BCDB) is a patented technology developed and improved over the past five years as an enterprise blockchain. With an already proven commercial maturity, the certified engine is now expanded as a core component of the Modex Network and responsible for the flexibility and interconnection of the entire Modex Ecosystem. A series of tools and frameworks were developed as satellites of the core technology, which allow Modex to address a variety of industry-specific needs in sectors like: banking, healthcare, logistics, government, and many more.
After centuries of monarchy and oligarchy in traditional banking systems, due to the features offered by blockchain technology, DeFi (decentralised finance) has finally found a place in our everyday lives. The power of decentralized money has created a revolution that seems to be growing at a fast pace and these are the top reasons to believe the expansion has only just begun: digital assets are becoming the new means of trade and many traditional banking features (loans, credits, exchanges, KYC, etc) are being migrated and available as consumer-ready DeFi services; the first regulatory frameworks are tailored to financial services; government resistance is slowly degrading because all stakeholders are starting to understand the benefits of DeFi.
The new whitepaper also focuses on the MODEX Token, which is now available also on Bittrex Global. The MODEX Token is the decentralized asset that lies in the middle of all technical and business operations and powers the ecosystem’s economy. From a financial perspective, the token is considered a multi-purpose utility token because its role is to create a macro-economy of micro-economies that are related, interconnected and interdependent.
The next version of Modex’s whitepaper will provide more details about the following topics: payment framework, performance, compliance with standards, additional tokenomics details, and more.
Modex develops scalable products and services that transform the way data and digital assets are stored, shared, and managed using blockchain technology. Modex’s networks of trust are structured around two flagship offerings:
Modex Blockchain Database® (BCDB), a patented enterprise solution that combines traditional databases with distributed blockchain technology to harness the full potential of both.
MODEX Token, the native digital currency that governs the Modex ecosystem and can also be used as a way to store and exchange value directly and securely.