Walmart Joins MediLedger to Track Drugs
By Tyler Smith – Crypto Investor
MediLedger, a consortium that’s developing a blockchain for tracing medicinal drugs, is now being joined by American multinational retail brand Walmart. This consortium is not looking to blockchains buying and selling crypto, but to increase the efficiency of their operations.
An Arkansas-based spokeswoman for Bentonville had confirmed Walmart’s involvement when speaking to CoinDesk but didn’t elaborate on it any further.
The move shows how deeply Walmart is involved with blockchain technology. Other than that, Walmart is one of IBM’s Food Trust key participants, which is a system used for keeping track of fresh produce through the Hyperledger Fabric platform’s supply chain.
Walmart has insisted that its leafy green suppliers have the IBM blockchain integrated and that it should bring an identical supply-chain influence on MediLedger, who have already added pharmaceutical manufacturers like Pfizer as well as three of the biggest pharmaceutical wholesalers, Cardinal Health, AmerisourceBergen, and McKesson.
MediLedger, unlike Food Trust, uses an enterprise edition of the ethereum blockchain, one that uses the modified Parity client version as well as a consensus mechanism known as proof of authority. Though some blockchain will use a crypto to power it, you will not need to buy or sell Ethereum to interact with this one. Leading the consortium is Chronicled, a blockchain firm based in San-Francisco that had closed a $16 million round of funding at the beginning of the year.
Walmart and the MediLedger partnership comes just when the latter starts a pilot project alongside the U.S. Food and Drug Administration (FDA) at the start of June. Now, the agency is performing a variety of tests to bring a digitized, interoperable system not only for tracking but also verifying prescription drugs.
It has not been said how far Walmart could incorporate blockchains within their business, however, they could introduce a cryptocurrency along side them. Users could buy and sell cryptocurrency native to this blockchain on the open markets and potentially use it to pay for goods and services Walmart offers in the future.
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