Blockchain, Featured

Tech Company IBM To Create Shared Permissioned Blockchain Network

A tech company called IBM has unique expertise for the creation of a shared permissioned blockchain network.

The United States Food and Drug Administration (USFDA or FDA) is a federal agency who has selected the tech company IBM for a program. FDA didn’t only select IBM, but it also selected a network of professional service firms called KPMG, a pharmaceutical company called Merck & Co., and a retail company called Walmart for the program. 

Helping the USFDA or FDA in creating an electronic and interoperable system is an intention behind the program. Identifying and tracing prescription drugs within the United States are purposes for the development of the system.

Not only the tech company IBM has this unique expertise, but the other three firms also have this unique expertise for the shared permissioned blockchain network creation.

KPMG Blockchain Leader Arun Ghosh said, “Blockchain’s innate ability within a private, permissioned network to provide an ‘immutable record’ makes it a logical tool to deploy to help address DSCSA compliance requirements. The ability to leverage existing cloud infrastructure is making enterprise blockchain increasingly affordable and adaptable, helping drug manufacturers, distributors and dispensers meet their patient safety and supply chain integrity goals.”

IBM, KPMG, and Walmart are the three firms who already have a deep understanding of the implementation of blockchain solutions. Customers are helped with enhanced safety and traceability related to products. Demands for the detailed information related to the products are more.

The federal agency FDA or USFDA belongs to a U.S. federal government-based cabinet-level department called the United States Department of Health and Human Services. It was established on June 30 in the year 1906. It is located in Silver Spring, Maryland, the United States. It looks after the protection and the promotion of public health by controlling and supervising food safety, tobacco products, dietary supplements, prescription, and over-the-counter pharmaceuticals drugs (medications), etc, according to Food and Drug Administration Wikipedia page.

Products can be monitored in real-time, time for tracking & tracing inventory can be reduced, reliable distribution information can be retrieved timely, data accuracy can be increased, and products integrity can be determined through the shared permissioned blockchain network, Merck Newsroom Home reported.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Shabnam Dhar is a Copy Editor for OWLT Market.

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