Modex, a blockchain enablement platform provider has launched its enterprise platform for simplified blockchain deployment. Modex designed its blockchain database platform (Modex BCDB) to enable enterprises to deploy their first blockchain project in days rather than months. In addition to the platform launch, Modex also announced Modex BCDB deployments to customers across the financial, retail, transportation, healthcare, public administration and energy sectors and from the oil and gas sector, Dietsmann is one of its pilot enterprise customers.
“Over the last 40 years we have managed to gain the trust of the biggest actors in our industries, oil and gas, nuclear and mining, operating all around the world in high risk conditions, delivering the best maintenance solutions. Trust is the new currency today, and we’re happy to build that further by better processing the data and delivering better results for our clients, teams and environment. Blockchain is one of the cutting edge technologies that will significantly benefit Dietsmann’s Data Lab and help us not just secure our sensitive information but also open new ways of collaborating with our main clients and suppliers,” said Peter Kutemann, President and Founder of Dietsmann. “Modex Blockchain Database infrastructure allows Dietsmann to be up and running on a private blockchain infrastructure at low cost in a matter of days, with high efficiency and minimal effort from our technical team.”
While blockchain can solve many of the complex of issues related to security, auditability and more, long development timelines (not aided by specialist-priced large consulting fees) have raised barriers to blockchain adoption. By simplifying the way enterprises can deploy blockchain technology, Modex, with Modex BCDB, hopes to assist enterprises to get going with blockchain projects in a shorter timeframe and with a price point which small and mid-level enterprises can afford.
Modex designed Modex BCDB from the ground up as an on-demand enterprise blockchain infrastructure. It started with the objective of making the use of blockchain “as easy as using an API”. The result is a platform where projects can be up in under 48 hours (according to Modex).
- ensures data integrity, auditability and security
- integrates with an enterprise’s existing databases.
When an enterprise deploys Modex BCDB it will work between existing applications and databases. This enables the writing of data to both the BCDB as well as traditional data stores – which means programmers can work within familiar systems they are already using. A patented process enables:
- greater security without sacrificing usability or engendering the need for additional training
- enterprises to permission data based on employee needs or regulatory compliance, for example GDPR or HIPAA.
“With the launch of Modex BCDB, we’re excited to usher in a new era of enterprise blockchain adoption,” said Mihai Ivascu, CEO and founder of Modex. “We’ve developed Modex BCDB specifically with enterprise needs in mind in order to counteract the high barriers to adoption that have typically kept businesses on the sidelines. Our platform and customers prove that it is possible to leverage the benefits of a blockchain database without long development timelines or high implementation and consulting costs.”
Modex BCDB features
Some of the features Modex claims for its Modex BCDB platform include:
- easy deployment: deployable on-prem or in any cloud infrastructure (AWS, Azure, Google Cloud), users can ‘insert’ it between the server side code and existing databases; this allows data to read direct from both the Modex BCDB or existing databases
- data security and traceability: this ensures the integrity of data by validating the record signature with a copy stored in the blockchain immutable ledger as well as reconstruction of any unauthorized record modification (by restoring the data to the original version)
- real-time backup: this includes maintenance of full data nodes capable of reconstructing new BCDB instances from scratch for every lost data node and it eliminates the need for storage-intensive snapshots
- regulatory compliance: defining sub-networks achieves specific configurations so as to restrict data synchronisation and data synchronisation happens at the group level data based on regulatory needs related to industry and geography
- encryption includes default, continuous encryption and is database agnostic
- pay-per-use combines with customised enterprise pricing: Modex BCDB is license-based, with a pay-as-you-go model; there are a number of free transactions (to support the growth of new adopters).
Enterprise Times: what does this mean
Mihai Ivascu founded Modex (in 2017) as a platform for developers to help them build DApps without learning blockchain-specific code. Upon realising that the challenges of blockchain extended beyond development into deployment itself, Modex sought ways to bring blockchain to businesses.
With offices in London, Gibraltar, Bucharest and a newly opened Silicon Valley location (the latter primarily for business development) Modex employs some 60 developers, business architects and designers. As such it is more substantial than many in the blockchain arena. That said, the success of Modex BCDB will depend on two factors, both of which must satisfy enterprise IT:
- the speed and ease of developing when using Modex BCDB
- the integration capabilities with existing applications, databases and data stores.