Blockchain firm Kadena and healthcare supply data platform Rymedi have teamed up with the aim of helping patients in developing countries by tracking pharmaceutical supply chains.
The partnership will also assist hemp/CBD companies in the US looking to bring the safest products to market.
By integrating Kadena’s blockchain into its existing platform, Rymedi will allow consumers to simply scan a barcode with their phones to get data about a product’s origin and journey.
This validates purchasing and authenticity, which is especially useful in geographies and industries where fraud and quality concerns remain potentially life-threatening issues, according to a company statement.
Will Martino, founder and CEO of Kadena, says: “The partnership with Rymedi shows how blockchain technology can positively contribute to crucial aspects of the healthcare supply chain.
“Many times, illegitimate products can mean life-or-death for vulnerable communities. We look forward to being part of a solution that helps prevent the tampering of medicinal products.”
David Stefanich, CEO of Rymedi, adds: “With several use cases already live around the world, we’re making plans to broaden our partnership and offer even more value to our customers across healthcare data-silos.”
Kadena is the first blockchain technology company to come out of JP Morgan’s Blockchain Center for Excellence.