VeChain Finds A Vaccine Traceability Solution In China

The Chinese government has vowed to resolve a crisis, which erupted in July concerning the distribution of unsafe vaccines. The drug maker did not keep to the required health and safety standards. From a public relations perspective, the government failed to keep an eye on the drug maker. Shockingly, reports have it that thousands of children have already received the faulty vaccines. Nonetheless, the government says it did not ascertain the distribution of the said drugs.

In an effort to seek for a solution for the crisis, one of the government agencies has chosen to work with blockchain technology and the IoT. The government may have been under pressure to give instant solutions given that the safety crisis was the third to make headlines in a span of a decade.

It is necessary to store data in a more reliable and secure manner. According to VeChain the best option to achieve reliability is the use of a blockchain platform. The enterprise blockchain provider says that the blockchain-based solution will help in protecting data related to vaccine production in China.

The company notes, “The solution ensures the reliability of the data source. It will eliminate the potential risks in the whole process and ensures that vaccine records are immutable and permanent."

The move by VeChain will help in averting a reoccurrence of a similar crisis. The good thing is that it will be working hand in hand with DNV GL, a Norwegian company certified to provide business assurance services.

It takes a while before any agency can obtain endorsement from the Chinese government. However, the status is different for the blockchain provider, which enjoys a special relation with the Chinese government agencies. It is also enjoying massive recognition in the public health and the drug industry.

As the market expands so the provider proving competitive in providing vaccine data-tracking solutions. Some of its solutions are undergoing testing in other Chinese states such as Shanghai. The vaccine traceability solution is the company’s first venture in China but it is appearing to be highly reliable in data – recording.

Meanwhile, Vechain is also doing very well in the cryptocurrency rankings having propelled to the 20th position to attain a market cap of $571 million. It business is centralized on Binance, which is the largest cryptocurrency exchange in the world. It remains to be seen what more the integration between enterprise blockchains and the IoT is likely to bring in the future.