This Popular Altcoin Drug Giant Announces Cooperation With Bayer
Singapore based development team, is a leader in the adoption of the real world blockchain. Now VeChain helps drug giant Bayer advance his clinical work.VeChain Foundation has announced that Bayer China is working with its teams to develop a blockchain-based framework that will improve the traceability of clinical drug studies.
Bayer G4A China chose VeChain to co-developed Csecure, a traceability solution for the management of clinical trial drugs. This solidifies VeChain's position in the digital health space. Read the news shared by Bayer G4A (Chinese): https://t.co/Cin6TGJzaq
— VeChain Foundation (@vechainofficial) May 28, 2020
Bayer’s “Lifelong Partner” VeChain
According to the project team, the VeChain platform was chosen by the pharmaceutical production group under the 2019 Bayer China Implementing Partnership Program Grants.Bayer selects the most advanced product teams to tackle key business tasks through this program.
Digitized clinical study traceability was among the “hard to solve” problems for Bayer in 2019 . The pharmaceutical giant needed an all-in-one solution for its unique level of transparency.The applicants worked directly with certain parts of Bayer China for 45 days to design a comprehensive solution for the commercial task. The selection process consisted of three stages. Numerous teams around the world competed for this program.
VeChain has managed to create a viable solution and present it to Bayer China’s senior management. As a result, the VeChain team introduced the clinical research traceability platform CSecure.
Modular Blockchain (BaaS) solution
The platform is powered by the local Modular Blockchain (BaaS) solution Toolchain as the service offered by VeChain. It enables easy and fast deployment of blockchain-based instruments to solve real-world tasks.The CSecure platform maintains the integrity of data from manufacturers to customers at every stage of the supply chain.
The decentralized nature of data storage makes all kinds of corruption and misuse of data impossible. In terms of business process, the introduction of this tool significantly reduces risk management costs at all stages of the product life cycle.The program runs on the VeChainThor blockchain. Each medicinal product receives a unique QR code, which is also recorded as VeChainID (VID). Data collected through clinical trials supported by CSecure are used for new drugs, vaccines, dietary supplements and healthcare equipment.