IBM, KPMG, Merck, and Walmart will work together on a blockchain solution to track some prescription medicines and vaccines as they move through the supply chain.
The companies have been picked by the United States Food and Drug Administration for improving of drug safety due to their unique expertise. IBM company specializes on blockchain tech solutions, Merck is a drug company, KPMG brings a deep understanding of the compliance issues, Walmart distributes drugs through its pharmacies and care clinics.
The blockchain network will allow real-time monitoring of products from manufacturer to pharmacy to consumer.
“We believe this is an ideal use for the technology because it can not only provide an audit trail that tracks drugs within the supply chain; it can track who has shared data and with whom, without revealing the data itself,” explained Mark Treshock, IBM’s Blockchain Solutions Leader.