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.

Post Disclaimer

This article is for informational purposes only. The information is provided by Tech Company IBM To Create Shared Permissioned Blockchain Network and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. The Blockchain Cafe does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button