The US Food and Drug Administration (FDA) is working with Merck, IBM, KPMG, and Walmart, in a pilot project aimed at evaluating the use of blockchain technology to protect the integrity of their drugs.
Blockchain software is designed to establish a permanent record of transactions that cannot be tampered with or changed once entered. It allows all parties to the transaction to share information simultaneously.
The pilot project will trace the journey of various vaccines and prescription medicines made by Merck from manufacture to delivery. The bigger FDA plan is a platform it can use to track and trace prescription medicines and vaccines distributed in the United States. Walmart and IBM are already working together as part of IBM’s Food trust which is using Blockchain to track fruit and produce from farm to store.
Walmart, IBM, and Merck are examples of global leaders who are at the forefront of new technology and its applications. They are adapting these technologies to their existing businesses to remain dominant in their industries.
You might like: