One of the largest pharmaceutical companies in the world is working with VeChain to develop a new blockchain-based traceability platform.
Bayer China revealed in an interview Thursday it had chosen VeChain as tech provider for a new blockchain-powered solution that will allow the firm – a branch of Bayer – to track clinical drugs across the supply chain.
Known as “CSecure,” the system loads a batch number relating to a specific drug onto the blockchain. Each drug can then be tracked as it moves across the supply chain, using timestamps and user-identification information at different waypoints. Because of the immutable nature of the blockchain, the data can’t be changed by a non-permissioned third party.
VeChain won the right to work with Bayer China in a competition back in 2019, after it proposed the company consider implementing a blockchain-based supply chain solution. The proposal subsequently went on to become CSecure.
The system is based on ToolChain, a proprietary blockchain-as-a-service (BaaS) system that allows VeChain to design and build full distributed ledger technology solutions to a client’s specific requirements.
Bayer China is the latest in a series of high-profile partnerships for the blockchain project. Last June, the Chinese arm of supermarket chain Walmart, as well as Big Four accountancy firm PwC teamed up with VeChain to work on a new food tracking solution for China.