IBM announced its latest blockchain initiative today. This one is in partnership with KPMG, Merk and Walmart to build a drug supply chain blockchain pilot.
These four companies are coming to together to help come up with a solution to track certain drugs as they move through a supply chain. IBM is acting as the technology partner, KPMG brings a deep understanding of the compliance issues, Merk is of course a drug company and Walmart would be a drug distributor through its pharmacies and care clinics.
The idea is to give each drug package a unique identifier that you can track through the supply chain from manufacturer to pharmacy to consumer. Seems simple enough, but the fact is that companies are loathe to share any data with one another. The blockchain would provide an irrefutable record of each transaction as the drug moved along the supply chain, giving authorities and participants an easy audit trail.
The pilot is part of set of programs being conducted by various stakeholders at the request of the FDA. The end goal is to find solutions to help comply with the U.S. Drug Supply Chain Security Act. According to the <a target="_blank" …read more