Retail giant Walmart has joined blockchain-powered pharmaceutical consortium MediLedger.
MediLedger, launched by San Francisco-based blockchain startup Chronicled in 2017, aims to be an open network addressing the entire pharma supply chain. MediLedger’s blockchain stores data on several separate nodes or servers, which makes it hard for a counterfeiter to manipulate the data. If they manage to hack one server, they won’t be able to manipulate data across all the others. The network already includes Pfizer, McKesson Corporation, AmerisourceBergen Corporation, and Premier.
Walmart, which is also part of IBM’s Food Trust, joined MediLedger to track pharmaceuticals products, which constitutes a tenth of the company’s sales, amounting to $35 billion. The retail giant will be participating in MediLedger’s pilot project with the US Food and Drug Administration (FDA) this month. The project aims to create a digital, interoperable system for tracking and verifying prescription drugs in the US.
“The pilots only really make sense if you are working with a group of collaborators,” Eric Garvin, co-lead of MediLedger, said in a statement.
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