In the world of Financial Technology (FinTech), an industry on the rise, numerous entrepreneurs set their sights in changing the world with innovative solutions and revolutionary ideas which – at the end of the day – should make our lives better. Some fail in achieving their goals, others are successful. Romanian-born Mihai Ivascu is one of them. He started with Moneymailme, the award-winning social money transferring app, named “Best Social Payments App – UK 2017” by, and now he moves to the next level with Modex, a decentralized payments ecosystem.

Disrupting the payments industry

Moneymailme innovated the world of payments with a powerful, yet simple concept: facilitating chats and e-money transfer (micropayments) between friends, colleagues and family relatives no matter where they are around the world. In the 21st century and a rapidly evolving FinTech environment, speed and convenience are the two things one needs in order to succeed. With Moneymailme you have all these at your fingertips: speed, convenience, a friendly user interface, fast and secure money transfers in 130 countries, with six currencies available. No more going to the bank, opening an account, filling-in lengthy forms then waiting for the transfer to go through! You can send and receive money right from your smartphone while chatting with your family members, friends or colleagues. You can do the transfer even during a video call – a world first.

When asked about his vision for Moneymailme, Mihai explained he wanted to invent an app that was useful for a global citizen. “We like to call ourselves global citizens because we travel a lot and we are always on the move. We are dynamic and active, and this shapes our daily decisions and our daily lives. We are always moving from one city to another we are connecting with people from around the world. We are exchanging files and talking in real time with a lot of contacts. But we also need to send them money or we need to receive money from them. By integrating the money transferring into a chatting platform you can pay back your friend that send you some concert tickets back from NY. You can pay you favorite cousin from Poland. You can ask for money from your best friend in high school in London. You can start moving and creating your own micro-system of payments between your close contacts.

Next level: the Modex ecosystem

Created as an evolution after three years of developing Moneymailme, the award-winning “Best Social Payments App in the UK” (, Modex leverages access to the Ethereum blockchain with ready to use integrations and APIs. Modex is a Smart Contract Marketplace and app ecosystem that allows for easy, user-friendly access to crypto-currencies and smart contracts alike. Developers can leverage Modex to monetize their skills and offer Smart Contract solutions to end-customers and contributors. The real-world community can easily find Smart Contracts that meet real-world needs, are already audited and secure, without having to scout developers and manage one-off development projects. Modex makes deployment of Smart Contracts significantly easier, faster and more cost-effective, speeding up blockchain technology widespread adoption.

Bridging the blockchain protocols with mainstream consumers

In many ways, the blockchain industry is still struggling to get off the ground. Companies and everyday consumers are not all onboard, and have a difficult time getting there, despite the clear recognition of the value in doing so. Additionally, the range of existing blockchain applications is still very limited, composed mainly of wallets, online exchanges, a small number of smart contract services, and monitoring tools. Most of these are not user friendly or widely understood. Likewise, the number of skilled experts and app/smart contract developers is limited, starting to grow just now. In order to make the transition, companies and consumers must overcome these challenges with a platform that ties these stakeholders and applications together to yield much greater value for the broader market.

We see the next wave of advancement for blockchain being focused on building the application ecosystem to bridge the blockchain protocols with mainstream consumers. This is the only way for widespread adoption to really take off. As the last few decades of innovation have shown, leveraging a network can create the change required to solve problems of this scale. Modex’s Smart Contract Marketplace and payments ecosystem will be an essential application hub for these developer resources and user applications.

“Plug-and-play” level of ease…

Like any new technology, blockchain and crypto-currencies must endure a process of growing pains along the path to widespread adoption. The Internet, for example, only became valuable once organisations such as AOL, Amazon, Google, Facebook built successful web apps to give people the ability to benefit from the underlying technology. Then, when Apple launched its App Store, developers and consumers’ lives alike gained tremendous value, while app use exploded. It was these sort of companies that made the Internet accessible and useful to the mainstream. We are sure the same thing is already happening for the blockchain industry. New kinds of transactions are emerging, along with new social norms and expectations, while crypto-currencies and smart contracts act as the backbone to this new world.

…from a highly experienced team

The Modex team has already built the award-winning peer-to-peer mobile payments application Moneymailme. Now, Modex is building a platform to connect smart contracts and applications that together will create an ecosystem to empower the following block-chain advancements:

– develop or acquire ready to use smart contracts

– benefit from an e-wallet that can store crypto-currencies as well as fiat money

– make payments using the Modex (MDX) token or other accepted crypto-currencies either on a P2P, B2C or B2B basis

– integrate with new applications in order to deploy a range of smart contracts in the real world.

A Smart Contract App Store for developers

At Modex we recognize that the world has moved beyond a general ‘globalization’ into a more ‘gLocal’ hybrid, meaning global+local. This is why we have adopted this ‘gLocal’ mindset which means we look at global trends as they pertain to localized social behaviors and translate that into the design of our products focusing on the user experience. Modex’s Smart Contract Marketplace combined with Modex’s payment ecosystem allows for easy, user friendly access to blockchain technology, both crypto-currencies and smart contracts. Modex’s Smart Contract Marketplace will be the Smart Contract App Store for developers to upload and sell their work, and for buyers to purchase them. The Modex Smart Contract Marketplace will support APIs for 3rd party apps to integrate with, so that smart contracts can easily be deployed through an ecosystem of apps that enable buyers to solve real world problems.

We are now creating a Modex platform that includes a Smart Contract Marketplace, a Moneymailme wallet with new crypto-currency features, M3 Payments, and APIs for 3rd party applications to deploy a wide range of smart contracts. We breakdown our ecosystem into three primary parts:

1. Modex Smart Contract Marketplace is like the “App Store” and GitHub in one platform.

2. Apps: Open APIs for app integration with Modex Marketplace for smart contract deployment. To kick off the ecosystem, we will start with Moneymailme, our multi currency wallet that allows users to make social payments in multiple currencies including crypto-currencies. Users will be able to easily and safely use fiat and crypto-currency assets side by side, sending those assets to friends, merchants, or other contacts.

3. MDX Token: Modex’s MDX token is the underlying utility token for transactions in the ecosystem.