Modulus Announces Blockchain-as-a-Service for Decentralized Verification and Tracking

Modulus has released a Blockchain-as-a-Service offering, an AI-powered enterprise blockchain for decentralized verification and tracking.

The solution uses decentralized blockchain authentication so that clients can prove the origin, authenticity, and integrity of any product or service via immutable digital records. These can be accessed and independently verified anywhere in the world.

Richard Gardner, CEO of Modulus, said: “Traditional enterprise blockchain technology creates a cost-efficient framework for supply chain transparency, but the Modulus solution is much more than that. Modulus enhances the typical components of blockchain-based authentication with the addition of its patent-pending artificial intelligence technologies, blending a mix of image recognition and other types of bio-inspired AI together with blockchain technology.”

The US-based provider of trading and surveillance technology for equities, derivatives, and digital asset exchanges has delved into distributed ledger technologies to go beyond what traditional blockchain-based authentication does.

The firm developed a solution that allows real-world application in the storage of images, video, and audio, in a secure, immutable Hyperledger blockchain, which may be independently audited and verified at any time.

“The Modulus Blockchain is perfect for proof of product origin, product authenticity, product tracking and delivery verification, service completion verification, security applications, accident investigations, and much more, as immutable evidence is recorded along with timestamps. Most solutions can verify that a document is signed at a particular time. Our solution can verify that a distinct event happened at an exact time, by a specific person in a particular location. It really is next generation verification in every sense of the concept”, Gardner continued.

“The Modulus System requires little input from our clients. It works without cryptocurrencies, blockchain tokens, or cryptocurrency nodes. They need not even build out and develop their own app. Instead, our solution works with any smartphone, and it can be integrated into Amazon, Shopify, and other e-commerce platforms”, he concluded.

The Blockchain-as-a-Service offering is hosted on custom hardware powered by IBM Power9 microprocessors.

Modulus was founded in 1997 and is a renowned technology provider to top names within the trading industry, including NASDAQ, J.P. Morgan Chase, Bank of America, Credit Suisse, Barclays Capital, Goldman Sachs, Merrill Lynch, Fidelity, TD Ameritrade, and many more.

As blockchain took a lead role as one of the most groundbreaking technologies for the trading industry, Modulus has quickly deveoped its own digital asset exchange solution. The offering provides a low cost operation, scalability, and extensive white label customizations.

The solution is targeted to exchange operators, brokers, fund managers, token issuers, retail traders and professional traders, who wish to “access unlimited liquidity and trade multiple currencies all from just one single platform”.