VeChain jointly develops blockchain with pharmaceutical giant Bayer China

Bayer China employs VeChain for drug management

It was revealed that a Chinese subsidiary of Germany's leading pharmaceutical company Bayer will partner with VeChain to jointly develop a blockchain "Csecure" that realizes drug traceability.

The CSecure system is involved in clinical trials of pharmaceuticals and records batch numbers related to a specific drug in a blockchain network provided by VeChain.

A database within the blockchain can be used to track the supply chain movement of each drug. The time stamp of user identification information and location information is applied to this.

VeChain's platform enables product tracking in a transparent and auditable system that allows researchers and governments to use data collected to confirm drug availability in different regions and ensure fairness. It is also expected to be used to improve.

Attention also to the Chinese government

VeChain is a blockchain for businesses developed by VeChain and non-profit organization "VeChain Foundation" established in Shanghai in 2015.

VeChain has issued its own virtual currency VET, and in November last year it was published by the Central Committee of the Communist Party of the People's Daily in the People's Daily, saying, "It is a young company, but it is already one of the leaders in the blockchain industry." It can be said that the Chinese government is drawing attention.

In particular, it has a high affinity with the IoT (Internet of Things) and is often used for supply chain management.