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.
Bayer G4A China chose VeChain to co-developed Csecure, a traceability solution for the management of clinical trial drugs. This solidifies VeChain's position in the digital health space. Read the news shared by Bayer G4A (Chinese): https://t.co/Cin6TGJzaq— VeChain Foundation (@vechainofficial) May 28, 2020
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.