The public blockchain network Kadena has partnered with the Rymedi Health Supply Data Platform to develop a platform for tracking pharmaceutical supply chains in developing countries. The platform is expected to launch as soon as Kadena’s smart contract becomes fully functional on January 15, 2020. The information was published by the news site. Coindesk recently.
The partnership will be helpful, especially for cannabis oil companies in the United States that are looking for safe raw materials for the market. This initiative is the first step for Kadena to start exploring the healthcare industry, according to company CEO Will Martino. He said Kadena has very big visions that include creating a much larger health data market.
Kadena and Rymedi will work on an unchangeable and auditable registration platform that can accelerate the drug approval process with the US Food and Drug Administration.
What the partners say
According to Martino, the partnership with Rymedi shows how blockchain technology can positively contribute to crucial aspects of the health supply chain.
“Illegitimate products can often mean life or death for vulnerable communities. We look forward to being part of a solution that helps prevent drug tampering, ”he said.
Consumers will be able to scan a QR code on products and access records about their origin and trajectory.
“This validates purchase and authenticity, especially useful in places and industries where fraud and quality issues remain potentially life-threatening issues,” noted Kadena, which claims to have one of the most scalable working proofing platforms to facilitate cross-chain transactions.
Rymedi CEO David Stefanich, in turn, highlighted the partner’s strengths for the success of the venture:
“With its deep experience in financial markets and transaction data, Kadena is a uniquely aligned partner for us,” he said.