Modex has been selected as a finalist at one of Romania’s most prestigious FinTech competitions: NOCASH Gala, an event that will take place in Bucharest on May 9th. Modex has been shortlisted for its innovative Modex Blockchain as a Database (BCDB), a new component of our platform which offers companies the possibility to seamlessly implement a fusion between a traditional database system and blockchain technology.

Modex Blockchain as a Database (BCDB)

Built from the ground up by a team of highly skilled blockchain developers, Modex BCDB aims to help companies who work with databases the possibility to migrate to an innovative and more secure environment, facilitated by a fusion between the old and the new, between traditional database systems and blockchain. Of course, no two businesses are the same and the Modex BCDB comes with a high level of flexibility that enables custom configuration, according to each company’s needs.

The end goal: to enable companies to tap into the core characteristics of blockchain immutability, decentralization, transparency, and increased security while maintaining the same front end experience of working with a traditional database. We are honored that the potential behind Modex BCDB has been acknowledged by the NOCASH team. Modex is constantly working to find new ways to integrate blockchain technology in software solutions that would add real-world value to companies and to help blockchain permeate into the mainstream.

About NOCASH Gala 2019

One of the earliest promoters of FinTech in Romania, NOCASH owns and has managed since 2001 the first and only platform in Romania dedicated exclusively to the electronic payments industry. Since 2002, NOCASH has set the foundation for the most important event of the electronic payments industry in Romania: NOCASH Gala. Organized for over 17 years in the Spring of each year, the NOCASH Gala has become a distinguished event where companies that managed to make an impact on the industry are awarded based on the best results in their activity.

The most promising startup of 2019

The NOCASH Gala will open with a competition which will determine “The most promising startup of 2019”. The competition will be judged by key-figures of the financial services industry who are actively searching to form partnerships with non-banking players. For two months, the NOCASH team has actively searched for the most innovative and promising FinTech oriented startups in Romania which can revitalize the financial services sector. The NOCASH team focused solely on startups which already have a functional product on the market and Modex is one of them.

An even focused on collaboration and partnerships

The objective of the event is to connect local startup companies focused on financial services with key-players of the banking industry, and to facilitate collaboration and long-lasting partnerships between the two sides. The competition will be judged by representatives of the 5 largest banks in Romania — BCR, Banca Transilvania, BRD, ING Bank and Raiffeisen Bank — as well as representatives from GapMinder, Innova Capital and Human Finance. Judges will take into consideration the following criteria to determine the winner of the competition: non-cash impact, scalability, originality, business model, user-friendliness and the overall quality of the presentation. Each criterion will be scored from 1 to 10 and the sum of the scores received on each criterion will result in the final score. The winner of the competition will go to ICT Spring Europe 2019, one of the world’s most important FinTech conferences.

About Modex

Modex, a blockchain company, is promoting the adoption of blockchain technology and strongly believes into a future built around blockchain. Modex offers fully integrated services designed to solve the last mile adoption problem of the blockchain and aims to make blockchain user-friendly for every single device or person. At Modex, we are able to innovate thanks to our incredible team of experts and we offer services for the entire blockchain technology ecosystem: Marketplace for Smart Contracts, community tools for developers and blockchain as database services for enterprises.

In over two years, using cutting-edge technologies and with a clear strategy, Modex has evolved from the world’s first app store for blockchain into a complex ecosystem designed for developers’ needs and for enterprises looking for blockchain solutions. Our mission is to spread and facilitate the adoption of blockchain into the society and to solve real world problems using this revolutionary technology.

We radically simplify blockchain deployment so businesses can balance security and innovation. Modex was designed from the ground up as an on-demand enterprise blockchain infrastructure. We started with a simple question: what if using blockchain was as easy as using an API? The result is a platform that has you up and running with your first project in under 48 hours. Our platform is built for businesses frustrated with expensive consulting contracts and prolonged development timelines. Now you can secure and share your data without handing it over. With Modex, blockchain is a simple utility you use when and where you need it.