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Bayer China Inks Partnership With VeChain, Co-Develops CSecure Clinical Trials Platform

News
Thu, 05/28/2020 - 15:07
Vladislav Sopov
VeChain, a Singapore-based development team, is a leader in real-world blockchain adoption. Now it is helping pharma giant Bayer advance their clinical trials
Bayer China Inks Partnership With VeChain, Co-Develops CSecure Clinical Trials Platform
Cover image via stock.adobe.com
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VeChain Foundation has announced that Bayer China is working with their team on the development of a blockchain-based framework that will advance the traceability of clinical drug trials.

VeChain, Bayer's 'partner-for-life'

According to the project team, the VeChain platform was chosen by the pharmaceutical production mogul within the framework of the 2019 Bayer China Grants For Apps Partnerships Program.

Through this program, Bayer chooses the most advanced product teams to tackle significant business tasks. Digitized clinical trial traceability was among those 'hard-to-solve' problems for Bayer in 2019. Pharma giant needed trustless all-in-one solution for unmatched level of transaperency.

The applicants worked directly with specific departments of Bayer China for 45 days to design a comprehensive solution for the business task. The selection process included three stages. Numerous teams over the globe were assigned for this program.

VeChain managed to create a feasible solution and present it to Bayer China's top management. As a result, the VeChain team unveiled CSecure, a clinical trial traceability platform.

BaaS for Big Pharma

The platform is powered by Toolchain, the native modular Blockchain-as-a-Service (BaaS) solution by VeChain. It enables easy and fast deployment of blockchain-based instruments to solve real-world tasks.

The CSecure platform protects the integrity of data at every stage of the supply chain: from producers to end customers. The decentralized nature of data storage makes any type of corruption and data abuse impossible. In terms of business process, the introduction of this instrument significantly reduces the costs of risk management on all stages of product life cycle.

The program works on top of the VeChainThor blockchain. Each medical product receives a unique QR-code, also registered as a VeChainID (VID). Data collected through clinical trials backed by CSecure are used for new drugs, vaccines, dietary supplements and healthcare gadgets.

As previously reported, VeChain was chosen as a partner for the 'The Way of The Tiger' blockchain-based gamebook by Microsoft.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
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John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)