Mitsubishi Logistics has created a blockchain-based ML Chain platform to track production, supply chains and further storage of pharmaceutical products.
The company’s management said that thanks to ML Chain, it is possible to track when, to whom and where the medicines came from, as well as to control the temperature conditions under which they were stored.
In 2015, Mitsubishi Logistics launched a refrigerated drug delivery service that complies with strict Good Distribution Practice (GDP) standards for the storage and transportation of medicines. These standards are observed in the European Union, Japan and a number of other countries. Mitsubishi Logistics announced that since the start of the COVID-19 pandemic, demand for the proper transportation of vaccines and other pharmaceuticals has grown.
Therefore, the company plans to expand the implementation of the new ML Chain platform so that it is used for bulk deliveries to hospitals and pharmacies, as well as for international shipments. Blockchain will help to effectively manage product inventories and verify its authenticity, the developers assure. The ML Chain system is already used by the Japanese company Takeda Pharmaceutical.
Earlier this year, Singapore-based healthcare provider Zuelling Pharma began using a blockchain-based system to crack down on counterfeit coronavirus vaccines. A few years ago, Harvard Business Review researchers found that blockchain helps reduce drug delivery times because it eliminates the need for paperwork.
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