According to the two companies, a vaccine traceability system based on blockchain technology will offer more transparency and efficiency in supply chains.
Tech Mahindra Ltd. is an IT Indian firm and will collaborate with StaTwig, a blockchain startup, to create a product based on blockchain technology to assist vaccine supply chains. The plan is to also help in finding a solution for expired and counterfeit vaccines.
“Wastage of life saving drugs such as vaccines should be addressed on priority, and we need to come together in order to effectively find a solution here. Our strategic partnership with StaTwig will enable supply chain participants with a single application to enhance traceability, and chain of custody. This will not only ensure safety and validity of vaccine supply but also helps in adherence to complex regulatory requirements, set up by Drug Administration Authority in any country.”Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader – APAC and EMEA, Tech Mahindra
The two firms will work together with governments, researchers, distributors, healthcare providers, and pharmaceutical companies to build a global network. Named VaccineLedger, the solution will help vaccine manufacturers to use data in real-time, tracing the inventories, payments, and smart contracts.
“With VaccineLedger, we are aiming to re-design and re-engineer the traditional supply chain information systems to give continuous visibility and complete traceability. With the help of VaccineLedger, vaccine manufacturers and governments can work together to prevent counterfeiting, cold-chain failures and stock outs.”Sid Chakravarthy, Founder and CEO, StaTwig