Bayer and VeChain to develop blockchain platform for drug traceability
Bayer has selected VeChain to work on a traceability platform based on blockchain for drug delivery. This will help with the complex supply chain process.
In an interview with Arterial Network, Bayer China announced that it had chosen to work with VeChain as a technology provider for a new blockchain-driven solution. This will enable the company, which is a branch of Bayer, to track clinical drugs as they move through the supply chain.
Bayer China is a leading company in the pharmaceutical industry.
The system, known as CSecure, works by loading a batch number associated with a specific drug onto the blockchain. These numbers can then be used to track each drug as it moves through the supply chain, leaving time stamps and user identification information at specific points along the way. Due to the immutable nature of blockchain technology, these tags cannot be modified or tampered by anyone who is not authorized to do so.
A competition announced in 2019 gave VeChain the right to work with Bayer China. It suggested that the company should consider implementing a supply chain solution based on the blockchain. This proposal was accepted and consequently developed into CSecure.
According to the interview, the biggest challenge of the competition was to find a solution that "improves data transparency, effectiveness and traceability of drug management in clinical research. ’
As the proposal involved Blockchain technology, which offered the advantages of "high security, traceability and unchangeable characteristics", VeChain emerged as the winner.
The entire system is currently based on ToolChain, a proprietary blockchain as a service (BaaS), which enables VeChain to develop and design comprehensive distributed ledger technology solutions according to the customer's personal needs and preferences.
Bayer China is just the latest addition to the impressive list of high-profile partnerships in this Blockchain project. In June 2019, the Chinese subsidiary of the Walmart grocery store chain and the auditing firm PwC announced that they have partnered with VeChain to work together on the development of a new food tracking solution for China.
At the time of writing, not much is known about the recent agreement. A spokesperson revealed that this is due to the fact that the company is bound by a Non-Disclosure Agreement (NDA) and cannot disclose any further information about CSecure's internal operations.
Sunny Lu, co-founder and CEO of VeChain, said he was grateful that Bayer led the company through a rigorous and comprehensive process while they tested CSecure's product design.
"We have experienced the strictness of the medical industry by working with Bayer China. I feel the professionalism and excellent work ethic of Bayer in relation to medicine and healthcare as a whole," he said.
Posted from Crypto Mastermind Go to the original article
