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

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Thu, 05/28/2020 - 15:07
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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
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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.

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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.)

Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?

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Fri, 10/23/2020 - 09:24
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Vladislav Sopov
Grayscale, undisputed giant of institutional crypto investments, is celebrating another monstrous milestone, adding a nine-digit sum to AUM in 24 hours
Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?
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Grayscale is an investment company that provides the clients with an exposure to digital currency markets eliminating the need to buy tokens. The firm does it by selling shares of 'trusts' related to certain digital assets. The recently started FOMO has already brought Grayscale's 'asset under management' (AUM) values to previously unseen levels.

Grayscale assets are on steroids

In its most recent report shared in a tweet, Grayscale Investments stated that its net AUM now surpasses $7,300,000,000. Mostly, this upsurge should be attributed to the spikes of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) prices.

Grayscale adds $300M to its AUM in 24 hours
Image by Twitter

Its founder, CEO of Digital Currency Group Barry Silbert, unveiled that Grayscale’s holdings added a whopping amount of value in the last 24 hours.

Added a cool $300 million in AUM in one day

In terms of separate ‘trusts’, the most impressive increase is associated with Litecoin (LTC). Its value added almost 10% bringing its total to over $34 mln. 

Bitcoin (BTC) allocation surged above $6 bln with a 5% increase. Notorious Grayscale Ethereum Trust (ETHE) added 6% and now is valued at $942 mln.

PayPal assists Grayscale

By contrast, Stellar Lumens (XLM) and Bitcoin Cash (BCH) trusts witnessed mediocre increases of 2-3%. The only integral product of Grayscale, Large Cap Trust that unites the most valuable coins under its umbrella, therefore, added less than 4%.

The numbers of Grayscale Investments positions rocketed due to the rapid spike of crypto prices associated with PayPal’s decision to add major digital assets to its instrument toolkit.

As covered by U.Today previously, PayPal announced that Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) will be added as payment methods by the end of this year.

  

Following this surprising news, Bitcoin (BTC) revisited its multi-months high over $13,000. At press time, its price has slightly retraced and flirts with the $12,800 level.

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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.)