Global social payment app Moneymailme announces blockchain platform and ICO

Groundbreaking blockchain platform launch is imminent

  • Social payment app Moneymailme announces development of a new blockchain platform called Modex Marketplace, a platform designed to bring the benefits of blockchain technology into everyday life.
  • Connecting developers with applications and companies to deploy smart contracts into the real world.
  • Modex ICO, to commence in October with the Modex platform launch to follow in Q1 2018.
  • Early indications of participants enthusiasm robust on Modex despite calls for caution on ICO offerings.

The award-winning fintech social payment app company Moneymailme announces today that Modex — its smart contract marketplace — will open to a wider investment base with its much-anticipated ICO scheduled for early October.

Modex aims to bridge the gap between businesses and developers, in order to vastly accelerate global adoption of blockchain technology. Given the emerging norm for ‘borderless’ transactions, distributed ledger technology (aka the Blockchain) has opened the door for a new world of “data exchange”, facilitated through Smart Contracts.

Mihai Ivascu, Moneymailme CEO and founder, stated in London: “Moneymailme’s next chapter centres on Modex Smart Contract Marketplace, the infrastructure needed to integrate blockchain capabilities with apps like ours. The fact that we’ll be packaging and delivering the platform with our financial partners who’ve developed practical uses for the tool in the UK and rest of Europe is really exciting. Modex is a game-changer. Frankly, the Modex team has even surprised itself.”

Designed to serve as a central hub for multiple 3rd party applications and web platforms to plugin with and deploy smart contracts, Modex Marketplace will incorporate significant advantages for consumer adoption, enterprise cost savings, developer tools, community trust & engagement, IP protection, and revenue opportunities for developers, all centered around our smart contract ecosystem.

The infrastructure will initially be built on top of the Ethereum blockchain protocol and will eventually incorporate emergent protocols that also support smart contracts. Ethereum is by far the most trusted, and widely used smart contract platform making it an obvious place to start.

The Modex team brings together some of the most experienced individuals from across Europe, North America, and Asia with specialized talent in financial, security and blockchain development, and senior experience at Fortune 100 companies such as Oracle, and IBM. The team is tasked with building a one-stop solution for value- based transactions within the Modex ecosystem. This includes an all-in-one stop for developers and buyers of blockchain-based smart contracts, and an infrastructure to facilitate widespread deployment.

Strategically timed for an October opening, the Modex ICO will last for 30 days or until its cap is reached, which may be as short as three days according to some experts in initial coin offerings. Precise dates will be announced shortly. Modex implementation is programmed to begin in late December 2017 with the official launch in Q1 of 2018.

Modex ICO funding will enable and advance development of its blockchain-based ecosystem of solutions, addressing key use-cases to help individuals, corporations, and organisations evolve and broaden their scope of services.

Modex infrastructure is moving toward providing easy and user-friendly access to cryptocurrency adoption and smart contract deployment. Based on the Ethereum blockchain, and over time other blockchain protocols, Modex is preparing to offer application program interfaces (APIs) and user-friendly apps that act as the technical bridge to achieve numerous implementations across a wide spectrum of companies and projects.

What is a smart contract?

A smart contract is a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts were first proposed by Nick Szabo in 1996. Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both. Smart contracts have been used primarily in association with cryptocurrencies. The most prominent smart contract implementation is the Ethereal blockchain platform, where they are known as a decentralised application.[1]

A Word on Blockchain

Blockchain technology is rapidly emerging as the singularly most promising next-generation norm for enabling industries and companies to instantaneously conduct and verify financial transactions on a network without a central authority. Traditionally, banking and payment transactions have relied on a central authority or “middleman” for making or enabling payments. This will soon be nostalgia!

Organisations and companies worldwide are deepening on a daily basis their understanding of blockchain and are migrating progressively to blockchain solutions that implement the advantages that the technology is offering.

On a global scale, more countries are introducing cryptocurrency rules heeding calls for regulatory environments which facilitate responsible adoption. The importance of cryptocurrencies and their role in the new economic paradigm is pushing this adoption, while the social and economic benefits of cryptocurrencies and blockchain applications are fast becoming clear and accessible.

The Ethereum infrastructure provides the technological foundation to create decentralised applications. Social and economic inclusion will be one of the most widely felt benefits of such decentalisation, and access to the framework of easy-to-use tools such as the Modex platform will drive adoption and implementation.

Given the major changes in a complex landscape such as payments, the adoption of blockchain technology comes with several natural challenges, notably integration concerns and costs. There are a variety of use-cases for companies and organisations to apply blockchain technology. Each well-implemented scenario should result in faster, cheaper transactions, with greater transparency and unprecedented security.