Cryptocurrency & Blockchain Business
CCG

Walmart and MediLedger partnership will allow the tracking of prescription drugs in the blockchain

Share on facebook
Share on twitter
Share on linkedin
Share on telegram
Share on whatsapp
Share on pocket
Share on vk
Share on reddit

Retail giant Walmart joined MediLedger, a blockchain-based pharmaceutical consortium to track prescription drugs, CoinDesk reported.

The move comes as Chronicled, Inc.’s MediLedger project prepares to launch a pilot program with the U.S. Food and Drug Administration in early June.

In February, the FDA announced that in its soon launching pilot project, participants representing the drug supply chain can pilot the use of innovative and emerging approaches, including blockchain, to trace and verify prescription drugs in the U.S. With the project, the agency aims to ensure that suspect and illegitimate products do not enter the supply chain.

As part of the Drug Supply Chain Security Act, the enhanced electronic, interoperable track-and-trace system for the pharma industry is set to go into effect in 2023.

MediLedger uses an enterprise version of the ethereum blockchain.

In early May, drug major Pfizer Inc. and three other life sciences and healthcare companies including McKesson and AmerisourceBergen had joined MediLedger Project Contracting and Chargebacks working group. With the new blockchain project, the companies aim to improve the complex process of chargebacks, which are payments from manufacturers to distributors in certain situations.

Walmart is already a major participant in IBM’s Food Trust, a blockchain-powered system to track fresh produce through the supply chain. The retailer has filed for about 50 blockchain patents.

If you enjoyed this article please share it for others to read

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on telegram
Telegram
Share on whatsapp
WhatsApp
Share on pocket
Pocket
Share on email
Email
Share on vk
VK

Leave a Reply

 

 

 

News by Month
Scroll to top