How Can VeChain Solve China’s Drug Problem?

VeChain partnered with a risk management company named DNV GL and they announced that they will work on a public blockchain technology to improve drug traceability, security, and monitoring. This solution will first be implemented in China but if everything works out it will eventually be implemented worldwide.

China desperately needs a solution. The country went under a vaccine safety scandal where it was discovered that manufacturers illegally produced rabies vaccines and later were administrated to thousands of Chinese children. The worst part is that this isn’t the first time manufacturers have done this. This is a major problem for the country for years. Just a few years ago, there was a massive police action where they caught over 300 illegal distributors selling vaccines. Million of these vaccines were stored improperly which can later become harmful.

This is why the country is planning to include blockchain technology as one of the best ways to solve this problem. VeChain developed a blockchain traceability provider in Shanghai and by 2020 VeChain is required to achieve the goal. The way it will work is by IoT devices that will record all the data in the manufacture and transport in every possible level thus the data will be recorded on the VeChain blockchain and will eliminate potential risks of wrongful data recording.

VeChain enables accurate backtracking, targeted recall, ID for each vaccine and risk management to enable targeted monitoring. This invention has the potential to prevent and even eliminate future scandals and bring better and higher quality medical products to the people.