A recent vaccine crisis in China is leading government officials to consider turning to blockchain company VeChain for support. News first spread in July that hundreds of thousands of Chinese children had received defective vaccines manufactured by a Chinese drug company, causing citizens to cast blame on the government for not providing sufficient oversight to ensure the company was meeting legal safety standards. Nasdaq reports that in an effort to ensure safety and transparency within drug manufacturing operations, VeChain has independently begun to develop a ‘Drug and Vaccine Traceability Solution’.

An undergoing investigation by China’s Food and Drug Administration is currently looking into vaccine manufacturer Changchun Changsheng Biotechnology for distributing defective rabies vaccines to Chinese hospitals. Many of these vaccines have been recalled, and 324 arrests have already been made. However, it is still unclear how many Chinese children were given the faulty vaccines, nor is it known what the effects of the bad vaccines might have been on those to whom they were given.

It is reported that this is the third major drug safety crisis to hit China in the last decade, along with numerous other problems related to food safety.

Suggested Reading: To learn more about VeChain, read our ‘What is VeChain?‘ beginner’s guide.

Earlier this month, VeChain announced in a Medium post that the company is partnering with DNV GL “[to leverage] public blockchain technology to rapidly advance drug traceability, monitoring, security, and auditing.”

According to the post,

“In VeChain’s drug and vaccine traceability solution, highly sensitive IoT devices capture and record to the VeChainThor Blockchain all data involved in vaccine manufacture and transport including getting vaccines from manufacturers, storage facilities, cold chain distribution, hospitals, and even usage. While ensuring the reliability of the data source, VeChain’s solution also eliminates the potential risks in the whole process and ensures that vaccine records are immutable and permanent.”

While VeChain is currently endorsed by Chinese government agencies as a provider for blockchain solutions, the Chinese government has yet to officially endorse VeChain’s developing blockchain vaccine traceability program. VeChain has yet to release an exact date on when the project will be completed, but has continued its operations despite having yet to receive official government support. VeChain has historically collaborated with numerous Chinese government agencies for various blockchain initiatives, but this will be the first time VeChain has launched a program focusing on public health and the drug industry.

“By using IoT sensors to record data to the blockchain, presumably in a highly automated fashion, VeChain’s vaccine traceability solution could serve as a proof of concept for the ways in which smart devices can be combined with a blockchain to build seamless and highly reliable data-recording solutions,” reports Nasdaq. “This news comes as an important sign of what the future holds for integrations between enterprise blockchains and the IoT.”

The post VeChain Announces Blockchain Vaccine Tracing Solution to Aid in Chinese Health Crisis appeared first on UNHASHED.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

167 +