Bayer China will track drug supply chains through VeChain blockchain platform

Singaporean company VeChain will develop a platform for tracking the supply chain of medicinesfor a branch of one of the world's largest pharmaceutical companies, Bayer.

Last AprilVeChain has registered to operate in China. Pharmaceutical company Bayer China said it has selected VeChain as the technology provider for a new blockchain-based solution that will allow the firm to track medicines throughout the supply chain.

VeChain got the right to work with Bayer China,Winning a contest held by a pharmaceutical company in 2019. Then VeChain invited the company to consider introducing a blockchain-based supply chain tracking solution. Subsequently, this system was called CSecure.

CSecure will allow to write serial to the blockchainnumber of each drug. Then the medicine can be tracked as it moves through the supply chain using timestamps and identification information. Due to the immutability of the blockchain, data cannot be changed by a third party.

CSecure based on ToolChain -a patented solution based on the BaaS concept (blockchain-as-a-service - blockchain as a service), which allows VeChain to design and create complete technological solutions based on DLT in accordance with the specific requirements of the client.

According to a spokeswoman for VeChain, the company does notmay disclose additional information about the system, as it is bound by a non-disclosure agreement. VeChain CEO Sunny Lu said the company appreciates the opportunity to work with Bayer on the CSecure project.

“Working with Bayer China, we made surestrict rules and regulations followed by the medical industry, ”he said. “I feel Bayer is professional and I see a lot of effort in developing medical products and improving healthcare in general.”

Previously, a hospital in Cyprus said it would implementVeChain platform for healthcare data management, and the APAC Provenance Council announced that it will track supply chains on the VeChain blockchain. Additionally, in April, Cos, the luxury brand of one of Europe's largest clothing retailers H&M Group, began tracking the supply chain of its products through the VeChain platform.

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