2020 was the year that changed the most in the way we do business. We have seen an unprecedented shift from a physical, to mostly online environment that has changed working processes. In this new context, we have seen new challenges in data protection but also in attracting and keeping the best talents within the companies.
Modex, a global technology company that focuses on data integrity and data immutability, managed to increase its team by 60% in a pandemic year, reaching over 100 team members and 4 offices worldwide.
“We are proud to say that in a year when many companies announced layoffs, we managed to stay focussed on the things we need to deliver and increased our team by almost 60%. We are now a team of over 100, we are in the process of opening our Washington DC office and we are constantly working on improving our service and products, in order to keep up with the need of data protection and data integrity”, said Mihai Ivascu, CEO and co-founder of Modex.
For 2021, Modex is looking to scale even more, by increasing its team in the US and developing its products offer. The company has offices in London (headquarters), Bucharest (R&D), Silicon Valley (sales), and soon in Washington D.C. (business development). The research and development team is in Bucharest, where the company has also the tech team and where in the last year has created the custom development department. The new team members that joined the company are engineers, backend and frontend developers, business analysts or content creators and communicators.
Getting to work for Modex feels more like joining a family of tech enthusiasts – you find like-minded people, passionate about changing the world one project at a time.
As Modex’s CEO says, building a successful organization is about creating a machine where all the parts work together organically. This is one of the major themes in Stanley McChrystal’s book Team of Teams. This organizational structure requires interconnectivity – different departments overlap and connect for the same goal.
In Team of Teams, McChrystal shows that giving small teams the freedom to experiment and share, they can respond more quickly, communicate more freely, and make better and faster decisions.
“I am a big fan of General McChrystal and I tried to apply he’s management style by building a team of teams and empower people to operate as a network with a shared consciousness. I think this is how you manage to scale up – by empowering other people to execute, building genuine relationships and creating trustworthy environments. You don’t have to be the smartest guy in the room, but to surround yourself with great people that share the same goal. For me, innovation is the ability to transform an idea into a product, but for this you have to surround yourself with people who are the best at what they do”, added Mihai Ivascu.
By applying this organizational structure, Modex managed to adapt very fast to the work from home program, although teamwork is essential when it comes to writing code.
Focus on creativity
Innovation has always been one of Modex’s core principles. Knowing that they can make a better tomorrow is what drives the company forward. Regardless of the industry they’re developing products for – healthcare, environment, governmental, banking or educational – Modex’s growing team of professionals is working relentlessly to come up with efficient solutions to meet the stringent demands of companies and end-users.
“We are a company with global offices. As such, for us, collaboration and teamwork are keywords”, Mihai Ivascu stated.
The last year has proved us that we are in a fastpacing change and there is a need for more integration between humanity and technology. Blockchain is the technology that will help all this integration and will bring extra trust.
“For 2021 we are focused on scaling our company and providing the best tools for the data protection industry. In our days, the owner of the truth is the owner of the database. If the database administrator deletes the logs, there is no possible way for a company owner to verify the truth. With our services, a company can obtain data immutability and data integrity and no longer needs to trust us or their team, they need to trust a mathematical proof that shows that the logs haven’t been tampered with”, said Mihai Ivascu.
The company is planning to launch new products in data security and expand its services globally.
In 2019, Modex launched Modex Blockchain Database (BCDB) is a new technological solution that merges traditional and new technology to provide an answer to the storage demands generated by the rise of digital assets. By leveraging its intricate technological layer, Modex BCDB ushers in a revolution in data storage mediums by facilitating the creation of data trusts that reshape the way in which companies collect, process, and extract value from raw data.
Modex BCDB addresses one of the main pain points faced by data sharing mechanisms, the interoperability of software, and database systems. Companies rely on different software applications and database engines that make data sharing operations difficult to perform without modifying existing system configurations, a time and resource-demanding process that opens up a new venue of cybersecurity risks.
Modex facilitates the integration of blockchain technology into existing data management systems without the need for major investments. Integration can be carried out gradually and it brings a series of unique benefits: improved security, simplified auditing processes, and ensuring compliance with data protection regulations.
“As 90% of the world’s data was produced in the last 24 months, the need for system interoperability is surging. Managers and data analysts have a clear need to move from big data collection, to intelligent data interpretation and rely on trusted data sources. And this is the spot where Modex will play its game in 2021”, added the Modex’s CEO.