Today we have selected Mihai Ivascu to take his interview. He is the CEO and Co-founder of Modex.
First of all, how are you and your team doing in these COVID-19 times?
Thank you for this question! Like many others, we have implemented a hybrid work method: work from home and the office. Last year, we worked mostly from the comfort of our homes, but over the past few months – as more and more people have been vaccinated against Covid – we’ve started to return to the office. The pandemic has been – and, in some cases, continues to be – a challenge for many companies worldwide.
Still, being in the tech industry, we’ve adapted fast to the ‘new normal,’ and now we are successfully working within this hybrid pattern. My colleagues are pushing ahead with our projects and are working tirelessly to develop our products and services further and come up with new, innovative ones.
Tell us about your career and how you founded or joined this company?
As a young and passionate entrepreneur, I started my web design company when I was 18. Later, it became a software company, which has since evolved and now offers tech products and services, impacting the global scale. Together with a team of FinTech, blockchain, and banking experts, in 2017, I launched Modex – a Blockchain Database provider – with a simple goal: to make blockchain adoption for individuals, as well as enterprises, fast, secure, and cost-effective.
As more and more companies choose blockchain technology to solve numerous security, speed, and cost problems, I believe this industry has a bright future. And Modex is here to deliver as we strive to make blockchain ‘invisible’ and as easy-to-use as the Internet. People will benefit from blockchain’s inherent advantages without knowing the inner workings of this groundbreaking technology.
How does your company innovate?
Since day one, innovating and making blockchain adoption easier for end-users and companies alike have been in our DNA, so developing and launching Modex BCDB (Blockchain Database) – our flagship product – was the next logical step. Modex BCDB enables enterprises to deploy their first blockchain project in days instead of months.
While blockchain solves some complicated security, auditability, and other issues, long development timelines and large consulting fees have remained major barriers to blockchain adoption. Modex BCDB enables enterprises to get up and running with blockchain projects faster by simplifying how enterprises can deploy blockchain technology. At a price point that small and mid-level enterprises can afford.
How the Coronavirus pandemic affects your business, and how are you coping?
Fortunately, the pandemic hasn’t had a big impact on our operations. As mentioned earlier, we’ve adapted quickly to the new requirements. We focused our attention and resources on continuing the projects started pre-Covid and starting new ones alongside valuable partners.
The tech industry has seen a big boom during Covid – see, for instance, the platforms which allow online business meetings – and I believe that while some other industries took a hit, the tech world managed to stay afloat and even advance. We have several important projects running, and the entire team believes we deliver the desired results to our clients.
Did you have to make difficult choices, and what are the lessons?
Without commenting on challenges or difficult choices, I can say there have been a few, but I’ve managed to overcome them. How? I’ve followed my instinct, based on the business decisions I took on my extensive experience in various domains (technology, mass-media, social-impact projects, cybersecurity), and I think there was also a bit of luck in the mix.
Having surpassed those challenges, I’ve become not only a better business executive, but I’ve also evolved on a personal level as a human being.
What specific tools, software, and management skills are you using to navigate this crisis?
Getting through this pandemic safely represents a challenge for every company, whether large, medium, or small. At Modex, we have a clear, strategic roadmap for the future of each of our products, and we are fully committed to maintaining that course. In our organization, collaboration and teamwork are keywords, although we have four offices worldwide – London, Bucharest, Gibraltar, and Silicon Valley.
We function smoothly as one. We’ve recently concluded the transition to a suite of Microsoft services for all employees, so now we continue our journey full throttle.
Who are your competitors? And how do you plan to stay in the game?
I’ve never liked to speak about competitors, and I won’t do that now. As the CEO of a company, I think it’s best to let the results do the talking and focus on your own goals. Of course, Modex is not the only player in the evolving blockchain industry, but we have a few strong assets that put us ahead of the competition. We never rest on our laurels.
We are constantly looking at new technologies, analyzing them to see how we can best integrate them into our projects or improve those technologies and make society a better place for everyone. Besides the innovations it brings to the industry, Modex BCDB stands for trust. It brings trust to existing clients and new customers who want to use it, cuts costs on the development side for companies as they can now build faster new blockchain-based solutions without giving up on the classic database, and so on.
These customers can build new ways for more revenues; they can start providing services they couldn’t provide until now because they were too expensive or weren’t making a profit. Modex BCDB changes all these, and that’s what we said from day one: blockchain database is a true game-changer.
Your final thoughts
I’m a huge supporter of innovation and changing people’s lives with the help of creative technology. I strongly believe that if you set your mind to achieve something and push tirelessly to reach that goal, you will overcome all the obstacles and get there.
Finally, I would also like to touch upon cybersecurity threats, which are evolving at an alarming pace. Thanks to the advantages of blockchain technology, Modex BCDB can enhance the security of existing systems without hindering performance. Our solution can provide an ideal environment for company data resistant to malicious tampering and ransomware attacks.
Last, but not least, I hope that all of us will overcome this pandemic and emerge stronger and more creative than before!
- Spokesperson: Mihai Ivascu
- Company: Modex
- Website link: https://modex.tech/
