Bayer China – a leading company on the Chinese pharmaceutical market – has revealed plans for joint development and development of a Clinical Research Tracking Platform based on the VeChain blockchain called cSecure. This solution is designed to monitor user data and product data, thus ensuring consistency in the clinical drug testing process, and at the same time contributing to the improvement of its safety.
Agreement between VeChain and Bayer China
VeChain uses DLT to streamline supply chains by optimizing ongoing processes and using blockchain to track and determine the quality of specific goods.
Through this agreement, Bayer China and VeChain have become partners, thus enabling the blockchain project to gain a competitive advantage by adopting products and services from Bayer China. Thanks to VeChain, Bayer China has the chance to improve management issues in the clinical drug testing process, while the DLT team developing a specific product will gain new experience while working and will test its platform in practice.
In an interview with the Chinese media magazine VBeat, which describes the development of health care in Asia, Bayer China revealed its collaboration with VeChain.
The most important and at the same time the most attractive event related to the whole situation was the fact that a huge pharmaceutical company was able to trust the blockchain project just created (less than 5 years ago) and entrust it with the activities of digitizing the basic services it offers.
In addition, their efforts in the field of digitization prove VeChain’s ability to do so. VeChain is recognized as a leader in providing the basic infrastructure required to solve long-term problems present in the medical and pharmaceutical industry – these are considerable, because the resulting losses are estimated at billions of dollars a year.
G4A and cSecure programs
VeChain was successful in creating solutions and meeting the challenges Bayer China faced after participating in the G4A Program in 2019.
The program required participants to undergo a three-stage interview, during which they had the opportunity to learn about the ideals guiding Bayer China and establish a relationship with its management. Later, in the final recruitment phase, the participants had to come up with and develop a solution practical enough to meet the strict requirements and be able to meet them.
Thanks to the G4A Program, VeChain had the opportunity to demonstrate its ability to develop world-class solutions tailored by proposing cSecure. Due to blockchain properties, the platform provides transparent, impossible to forge data for all product transactions made by Bayer China partners, including suppliers. Each product found in cSecure will be associated with a QR code and marked on the VeChain Thor blockchain for easy identification.
Sunny Lu, co-founder of VeChain, commenting on the rigor and simultaneous professionalism of Bayer China, said:
“We have experienced the rigor prevailing in the medical industry on the occasion of cooperation with Bayer. Rygor was competent for the process of designing the right product, as well as for the process of communication with G4A, and was associated with the process of communication with Bayer’s business departments. I believe that Bayer is characterized by professionalism and excellent professional ethics, which translates into issues related to medicine and healthcare. “
Agreement with Cypriot I-Dante
VeChain has also created a data management platform where patients can reliably and securely share their data with the I-Dante hospital located in Cyprus. This platform uses ToolChain, i.e. VeChain’s Blockchain-as-a-Service (BaaS) service provided by VeChain.