China’s JD.com Inc. has launched a blockchain technology solution – JD Medicine Open Tracing Solution – in an effort to provide more transparency into pharmaceutical supply chains in China.
Announced at JD’s 2018 Big Data Summit in Beijing, the Medicine Open Tracing Solution is available on the JD Blockchain Open Platform and seeks to address concerns in China about the authenticity of medicines by supplying consumers with reliable and transparent tracing information.
The tracing solution will cover every step of production, medical application, transportation, storage and sales of drugs. It has a friendly user interface and leverages IoT solutions to improve data collection efficiency.
The move comes after recent pharmaceutical safety incidents in China concerning substandard products, particularly when it comes to vaccines, that have been issued after their expiration date, or that are below safety standards.
As a result of these issues and those related to the authenticity of branded medicines, Chinese consumers are increasingly concerned about the safety and origin of the medicines they consume.
In light of this, JD is teaming up with industry partners including medical industry associations, medical software providers and smart hardware manufacturers to develop an entire IoT ecosystem of devices to increase transparency across the industry, promote medical traceability and raise industry standards.
Jian Pei, head of JD Big Data and Smart Supply Chain said: “This solution will provide necessary transparency and accountability to all those involved in the pharmaceutical industry, including consumers, businesses and governments.”
Pei added: “JD has a strong track record in supply chain transparency, and is committed to leveraging our technology capabilities to enable the accurate collection of transparent and reliable information about how medicines are sourced.”