[ad_1]
It has become known that Bayer China is working with VeChain to develop CSecure, a blockchain-powered Clinical Trial Traceability platform for drugs.
VeChain, an enterprise-focused blockchain ecosystem that aims to enhance supply chain management by connecting blockchain technology with the real world, has been confirmed to be developing a system for tracking clinical drugs belonging to Bayer China. VeChain won the right to develop the system dubbed as CSecure back in 2019.
The partnership was officially sealed after VeChain won during the 2019 Bayer China G4A partnership program. The program has been there for years and is meant to boost a special partnership program for the best companies through funding, networking and also mentorship program.
According to the details of the interview, CSecure system loads a batch number relating to a specific drug into the blockchain network powered by VeChain. With the database in the blockchain, each drug can then be tracked as it moves through the supply chain. This will be done using user identification information and also the timestamps at the waypoints.
However, due to the Non-disclosure agreement (NDA) signed between VeChat and the pharmaceutical company, the blockchain startup could not indulge more into the discussion.
VeChain – Bayer China CSecure Partnership
As said earlier, through the 2019 G4A program, VeChain demonstrated its capabilities to develop a world-class solution through its ToolChain. As a result of these capabilities, it can work on a clinical traceability platform that enables traceable, transparent and also an auditable system.
The data collected is highly valuable to researchers working in different fields. The government can also use the data to ascertain the availability of drugs in different regions, hence ensuring accountability and equitability.
Due to the nature of blockchain being more of a public ledger, the data is naturally incorruptible hence highly dependable in policy-making decisions. By uploading authentic data in different supply chain stages of the drugs onto the VeChain blockchain, CSecure will enable real-time value chain management among Bayer, the hospital and also consumers. The products will be encoded with a unique QR code that is registered as a unique VeChain ID (VID).
“We’ve experienced the rigorousness of the medical industry by working with Bayer. The rigorousness during the product design process, also from the communication process with G4A, and the communication process with Bayer related business departments. I feel Bayer’s professionalism and superb work ethic towards medicine and healthcare causes as a whole,” said co-founder of Vechain Sunny Lu.
VeChain was started back in 2015 whereby it has been helping manufactures to assign products with unique identifiers on its blockchain platform.
You can also find other blockchain news on Coinspeaker.
A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”
[ad_2]
Source link
