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IBM, Walmart, Merck Included In FDA Program To Test Blockchain Usage In US Drug Supply Chain

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IBM, Walmart, Merck Included In FDA Program To Test Blockchain Usage In US Drug Supply Chain

KPMG, IBM (NYSE: IBM), Merck (NYSE: MRK) and Walmart (NYSE: WMT) will be working with the U.S. Food and Drug Administration in a program supporting the U.S. Drug Supply Chain Security Act, tracking and tracing prescription medicines and vaccines distributed within the U.S. using blockchain technology.

Each company will create a shared permissioned blockchain network that allows real-time monitoring of products. The network aims to help reduce the time needed to track and trace inventory; allowing retrieval of distribution information; increased accuracy of data shared among network members; and help determine the integrity of products in the distribution chain.

"With successful Blockchain pilots in pork, mangoes and leafy greens that provide enhanced traceability, we are looking forward to the same success and transparency in the biopharmaceutical supply chain," said Karim Bennis, Walmart's vice president of strategic planning and implementation, health and wellness.

Blockchain is designed to establish a permanent record and may be integrated with existing supply chain and traceability systems.

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Posted-In: Blockchain Karim BennisNews Health Care FDA General Best of Benzinga

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