UNICEF, the procurer and distributor of vaccines, has collaborated with a Hyderabad-based blockchain startup called StaTwig in order to use blockchain technology for transporting vaccines worldwide. UNICEF has made an investment of $100,000 into StaTwig.
Interruptions, issues around safety, and regulatory problems are occurred due to inefficiencies of a temperature-controlled supply chain called cold chain. Failures of the cold chain and an improper supply chain management can make 50-60% and 80% of vaccines lose their efficacy respectively.
The startup doesn’t only leverage the blockchain, but also the Internet of Things (IoT). The journey of every product can be monitored, the complete transparency can be provided and the disruptions in deliveries on large-scales can be prevented through an IoT blockchain tech provided by StaTwig.
IoT is a system which consists of Internet-connected objects. Information related to the location of products can be recorded through sensors at any time. The information can be sent to all stakeholders through GSM networks. Whereas blockchain technology is a digital ledger technology. It contains time-stamped data which can’t be altered. No one can control can the blockchain. The data can be seen and accessed by everyone.
The Chief Operating Officer (COO) at the blockchain startup StaTwig Ravi Kumar said, “One of the problems was that there’s not just one stakeholder but many (such as manufacturers, distributors, and retailers). So the data needs to be shared equally among all. That’s where blockchain came into place.”
The United Nations International Children’s Emergency Fund (UNICEF) aka the United Nations Children’s Fund is working in 100+ countries and territories. The main purpose of UNICEF is to save the lives of children. Its purpose isn’t only to save the children lives, but also to defend their rights and to help them in fulfilling their potential. It believes that every child has the right to survive and learn. Its survival initiatives are early Childhood Development, HIV/AIDS, Nutrition, Health, Immunization, and Wash (Water, Sanitization, and Hygiene). Its education initiatives are Children With Disabilities, Education, Gender Equality, Early Childhood Development, Education In Emergencies and Innovation In Education, according to the official site of UNICEF.
The blockchain Startup StaTwig was established in 2016. Sid Chakravarthy is a Silicon Valley Veteran and the founder of StaTwig, Economic Times 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. ]