advertisement

Waltonchain Suggests Blockchain Solutions for Vaccine Data After China’s Pharma Scandal

China pharma scandal | Waltonchain blockchain solution | Blockchain in medicine | Blockchain in China | Latest blockchain update

 

A scandal involving a Chinese pharmaceutical firm that forged documents relating to a rabies vaccine for babies has sparked a debate about whether blockchain, the technology best known for underpinning bitcoin, could be a solution to the nation’s food and drug safety problems.

 The uproar followed a report from China’s State Drug Administration, which, based on a tip-off, launched an investigation of the company, Changsheng Biotechnology and found that it had falsified aspects of its rabies vaccine production data.The news immediately drew widespread criticism both in the country and internationally, amid fears that some vaccines may not be safe to give to children. The vaccine in question has been reportedly recalled and the firm has been ordered to halt production.

In the wake of this pharma scandal, Waltonchain (WTC) has suggested a blockchain solution that will nick the habit in the bud. Waltonchain in a statement declared that it will provide free of charge traceability solutions for vaccine enterprises, government and hospitals in the country.

“In view of the recent vaccine case in China, Waltonchain has decided to provide free of charge traceability solutions for vaccine enterprises, governments and hospitals. Let’s make the world safer together with blockchain technology.”

Li Xiaolai, one of China’s best known virtual currency entrepreneurs who has 290,000 followers on the microblogging site Weibo, wrote on Monday that he believes the technology can help improve transparency. Li said

 “If the entire vaccine supply-chain was to use the token-free blockchain solution to record everything from start to finish, then most of the problems in drug safety could be solved,”

Waltonchain, which offered to proffer solution to the scandal, says it will provide traceability solution to vaccine developing enterprises without charging any fee. This will enhance and standardize the control of each link of vaccine supply chain, such as production, sales and transportations.

It added that it will also provide safe and reliable living environment for people throughout the world if the idea is adopted.

Also Read: Blockchain in Pharma: Merck to Test Blockchain For Fighting Counterfeit Drugs

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

Get Latest Cryptocurrency And Bitcoin News

Signup this form below to get latest Cryptocurrency and Bitcoin news, directly in your mailbox

Note:

Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.