The tech group SAP cooperates with the blockchain company Chronicled. The collaboration is about the verification of prescription drugs. With these blockchain-based systems, the cooperation partners want to help companies implement the U.S. Helping Supply Chain Security Act (DSCSA). The technology of Bitcoin and Co. is more and more popular in the healthcare industry.
Software maker SAP announced its latest blockchain partnership on September 3. In the news post on the company’s website, the IT giant explains its cooperation with Chronicled Inc. This is a software company that provides businesses with blockchain-based ecosystems.
Meanwhile, the project is embedded in the “SAP Information Collaboration Hub for Life Sciences”. This is a program that the software developer launched in November 2017. This collaboration center is described as a “public cloud network that facilitates collaboration between pharmaceutical trading partners on the supply chain.”
SAP wants to help companies implement the US Medicines Ordinance
In the meantime, the product “MediLedger” will play a central role in the cooperation with SAP. This open and decentralized network for the pharmaceutical supply chain was developed by Chronicled. In particular, it provides secure and easy payment processes and tracking mechanisms on the blockchain. According to the press release, nine of the world’s top pharmaceutical companies already use the described combination solution. Two of the three major US drug distributors apparently also use the tool.
Collaboration will also help companies to reliably comply with the US Drug Supply Regulation. This legal requirement, entitled U.S. The Drug Supply Chain Security Act (DSCSA) concerns the traceability of medicines. SAP and Chronicled want to help the pharmaceutical companies sell their products in the United States in compliance with the law.
Above all, DSCSA concerns medicines that return to pharmacies and clinics after sale. These are usually resold – provided their authenticity can be reliably verified. The cooperation with MediLedger developer Chronicled extends the offerings of the SAP Information Collaboration Hub to numerous companies.
MediLedger itself was developed in 2017 by the pharmaceutical giants Pfizer and Genentech. SAP is also working intensively on Bitcoin & Co. technology. For example, in April 2019, the Group made it into the Forbes list of top blockchain users among major corporations alongside Siemens and Allianz.