As we continue to evolve and to refine our products and services, we would like to offer you some updates. October 2020 brings a new, updated Modex Whitepaper where you can find all the relevant info related to our blockchain database company. Here are the most important updates, at a glance. 

Modex BCDB is a game-changing hybrid remote data storage system enabling blockchain adoption in enterprise software development and deployment without eliminating the database component, but by mixing standard database engines with blockchain features, while allowing software developers to work within the systems they are already using.

Modex BCDB is designed as a middleware that is installed between clients’ software and their existing databases,​ connecting them to the blockchain with minimal effort and without requiring additional training for software developers working in clients’ companies, as the platform has a similar interface as traditional databases.

The advantages of blockchain at your fingertips

Blockchain technology provides the main vehicle to help businesses transition from a centralized model to a decentralized one. Blockchain has already started to gain considerable momentum in industries such as supply chain, healthcare, retail, financial services, telecommunications, transportation, logistics, energy and identity management. With our product, customers can access all the advantages of blockchain, without needing to concern themselves with its technical intricacies. With an agnostic approach to databases and blockchain engines, Modex BCDB is the ideal platform for B2B collaboration, bringing considerable time and cost-related savings.

BCDB, a game-changing solution for multiple industries

Modex BCDB can be used in various industries which can benefit from the advantages of blockchain technology. In healthcare, Modex BCDB can help hospitals and clinics mitigate the effects of cyber-attacks and system failures with its high data availability, real time backup, and distributed structure. Patients can manage their own digital medical files and allow others to access their data when necessary, and always be aware of who can see the data and can establish new permissions and/or restrictions. For government & public services, blockchain technology can enhance the efficiency of processes and the credibility of public data, increasing citizens’ level of trust in public institutions. Blockchain could also improve citizens’ and businesses’ experiences in interacting with government as more processes are moved online in a secure environment.

In banking and financial services, blockchain can reduce processing times, the potential for error and delay, and the number of steps and intermediaries required to achieve the same levels of confidence as in traditional processes. Furthermore, blockchain can improve KYC and AML systems by ensuring data immutability and enhancing processing capabilities. When it comes to log management, versioning provides a changing view, while the underlying data is expressed with new contents bound to a unique identifier. Modex BCDB doesn’t allow any audit trail changes or deletion, which means your logs are kept safe. 

For regulatory compliance, through the use of advanced encryption mechanisms, Modex BCDB assists companies in implementing GDPR-compliant solutions. Every stored data record comes with independent proof that the data is in its original state and has not been manipulated, so it provides an independent forensic quality audit trail for the lifecycle of user records, helping companies prove compliance with data protection regulations. When it comes to incident response, Modex BCDB can help mitigate the effects of ransomware attacks by eliminating the single point of failure through its decentralized and distributed structure. Even if a node in the blockchain network is compromised by an attack or other type of security incident, the data can be immediately restored from another node. It is virtually impossible for an incident to affect every node in the network.

Roadmap – new features in 2020 and 2021

Our roadmap – which contains the next features that we have planned to develop in 2020 and 2021 – is in line with the go-to-market strategy. Here’s a glimpse of what to expect from Modex BCDB until the end of this year: Logstash BCDB plugin, Microsoft Azure Marketplace deployment scripts, support for R3 Corda, RethinkDB database integration, CRUD support for SQL databases and publishing the management tool (BCDB Workbench) as a open-source on GitHub.

In the first quarter of 2021 expect M247 Integration and Modex BCDB Lite, as well as publishing more Open Source code. In the second quarter, Modex BCDB will offer full support for SQL databases, Oracle Cloud Marketplace Integration, support for Hyperledger Fabric, and JDBC Driver. In Q3 expect GCP Integration, Golang & C# Drivers plus support for Hyperledger Burrow. For Q4 2021, we will offer Modex BCDB Smart Contract on Modex Marketplace, Pyhton & Ruby Drivers, support for Ethereum, Hyperledger Besu.

Go-to-market strategy

When it comes to our go-to-market strategy, we are committed to utilizing the internal and external resources to deliver our unique value proposition to our customers and achieve a competitive advantage comprises the following activities: 

Co-Selling Agreements – building strong partnerships with big tech companies and get featured in their marketplaces; 

Custom integrations with major software players which will allow us to validate our solution on a large scale, with companies that provide custom software and are interested in blockchain solutions to whom we can offer a ready-made product that will save them hundreds of development hours, with mainstream database providers allowing us to increase our product’s database agnosticity and thus reach more customers; 

Partnership Opportunity Program (Reseller and Referral) – reaching customers indirectly through reseller / referral partnerships with companies that will get a variable revenue share fee when they bring new customers (Modex will provide training and technical resources to all reseller/referral partners); Digital Marketing campaign – a bottom-up approach to attract developers and early adopters.

About Modex

Modex, the blockchain database company, innovates in order to solve the last mile adoption problem of the blockchain. Modex offers fully integrated services and aims to make blockchain user-friendly for organizations and people. Modex is a leading Blockchain Database provider offering software solutions with real data integrity and log immutability to help companies protect valuable information. In over two years, using cutting-edge technologies and with a clear strategy, Modex has evolved into a complex ecosystem designed for developers’ needs and enterprises looking for blockchain solutions. Our mission is to spread and facilitate the adoption of blockchain into society and to solve real-world problems using this revolutionary technology.