Modulus launches AI-based blockchain verification solution

Modulus launches AI-based blockchain verification solution

Modulus- an American developer of ultra-high performance trading and surveillance technology that supports global equities, digital asset exchanges, and derivatives has reportedly released an advanced Blockchain-as-a-Service offering, which is an enterprise blockchain for decentralized verification and monitoring, comprising of an advanced AI-led capabilities.

In addition to the above, when using the blockchain authentication system, clients are allowed to prove the origin, integrity, or authenticity of the products or service through immutable digital records that may be accessed and verified worldwide.

Richard Gardner, CEO, Modulus, was reportedly quoted stating that the conventional enterprise blockchain system develops an economical framework to ensure transparency in the supply chain, however, the novel solution by Modulus offers much more than that. 

Mr. Gardner added that Modulus improves the components of a traditional blockchain-led authentication system through the addition of its patent-pending AI systems, and blending a mix of image recognition along with different types of bio-inspired artificial intelligence along with the blockchain technology.

Along similar lines, the modulus blockchain is a viable option for proof of product origin, product tracking, its authenticity along with delivery verification, security applications, service completion verification, accident investigations, among various others.

What differentiates Modulus’ blockchain technology from others is its ability to verify any distinct incident that took place at a particular time, by a person at any location.

Notably, the AI-powered blockchain verification solution offered by Modulus is a hosted Blockchain-as- a- Service that comes with an AI-led image recognition system which hosted on custom hardware and supported by Power9 microprocessors by IBM.

For the record, the system hosts FPGA-led deep learning convolutional neural networks that facilitate image recognition at the exact-time before sending the processed data to the Hyperledger blockchain.

According to a statement by the company, the Modulus System requires nominal inputs from its clients. It functions without blockchain tokens, crypto nodes, or cryptocurrencies. The clients are not required to develop their own application, instead the latest solution by Modulus is compatible with any smartphone and may be integrated with various notable e-commerce platforms like Shopify and Amazon.

Source Credit: https://www.finextra.com/pressarticle/86297/modulus-introduces-blockchain-as-a-service-offering