Bayer China, the largest multinational pharmaceutical and Life Sciences Company in the world, has started working with VeChain with an eye to co-develop CSecure, a traceability platform based on blockchain for drugs. VeChain is working as a leader in the increasingly digitized medical healthcare sector.
As there have been long-standing issues existing in the healthcare and medical industry, VeChain wants to work in collaboration with Bayer in achieving its internal requirements for digitizing their core services.
A partnership-for-life between VeChain and Bayer
VeChain has become the partner-for-life of Bayer China through Bayer’s G4A Program, a special partnership program for qualified companies to directly partner with Bayer and to accept the usage of their products and services. G4A Alumnis are granted ‘’partner-for-life’’ status within the Bayer Group.
G4A program focused on Digitized Clinical Trial Traceability in 2019. That all participants can be aware of Bayer’s requirements, Bayer China wants them to work directly with pertinent Bayer departments responsible for above solutions within 45 days and after the period ended, participants will be required to design a comprehensive solution to show their capabilities.
Participants will get connected with top Bayer executives and management in the second stage and will be required to start to develop a real application. In the third stage, they will be required to turn their ideal solution to a feasible solution for final deployment.
Though the final solution is going to be deemed as internal Bayer project, it must conform with Bayer’s internal milestones and planning.
VeChain has shown its capabilities to develop world-class solutions through the 2019 G4A China Program. Blockchain-powered applications can be introduced at lightning speed using VeChain ToolChain. All medical data collected from clinical trials are used for researchers and health authorities to check the effectiveness and safety.
CSecure being the outfit of ToolChain’s capabilities is bridging trust between all stakeholders in a digital manner. The platform aims at providing a transparent, secured and credible process for medical products from production to trail uses, hospitals and end consumers maintaining a great knack by uploading original data in critical stages amid lifecycle of the medical products onto VeChainThor Blockchain.
Each medical product in Csecure is tied with a unique QR code as a unique VID on the VeChainThor Blockchain to carry all the valuable data regarding the product. With the help of Csecure, the pharmaceutical companies can lower the potential risk management in the whole process.
The equal footing of both VeChain and Bayer is hoped to cut off the rigorousness during the product design process. People around the world are losing their trust on safety in the healthcare industry which can be regained and ensured by the inherent characteristics of blockchain technology with its transparent and traceable process of all medical products and records. With the quality of decentralized data transferring and sharing, the development of blockchain has become viable across multiple different industries. Bayer and VeChain’s Csecure Clinical Traceability Platform shows the high possibility of integrating blockchain platform to bring a permanent solution to existing issues in the healthcare industry.