Tech Mahindra Partners With StaTwig For Blockchain-Based Traceability Solution For The Vaccine Supply Chain
IT major Tech Mahindra said on Monday it has partnered with StaTwig, a Singapore and Hyderabad-based digital supply chain solutions provider, to implement the ‘VaccineLedger’ vaccine traceability platform at the global scale. The companies aim to deploy a blockchain-based traceability solution for global vaccine supply chain transparency, predicting and preventing failures in supply chains, including issues related to expired vaccines, stockouts and counterfeiting, according to a statement. VaccineLedger is an open source platform designed to perform end-to-end vial-level traceability for vaccines in the global supply chain. This avoids having to replace the existing system and therefore remove barriers to adoption. It integrates easily with existing systems and shows immediate results in the countries where it is deployed. Through the partnership, Tech Mahindra and StaTwig will work to create a global consortium of vaccine researchers, governments, pharmaceutical companies, distributors and healthcare professionals, the statement said. StaTwig will leverage Tech Mahindra’s marketing expertise including access to sales and customer network, domain experience, balance sheet support, resource scale and integration knowledge of systems. In addition, Tech Mahindra has also invested in the co-development and testing of various enterprise security modules for mobile and web applications, to meet the unique requirements of manufacturers and state governments. âThe waste of life-saving drugs like vaccines must be tackled as a priority and we must come together in order to effectively find a solution here. âOur strategic partnership with StaTwig will enable supply chain participants with a single application to improve traceability and chain of custody,â said Rajesh Dhuddu, Tech Mahindra Blockchain and Cybersecurity Practice Leader – APAC and EMEA. This will not only ensure the safety and validity of the vaccine supply, but will also help meet the complex regulatory requirements, put in place by the Drug Administration Authority in any country, he added. A blockchain-based application creates peer-to-peer bridges over current systems that support real-time data sharing, authentication and validation. Vaccine manufacturers can use this data beyond tracking and tracing for inventory management, supplier payments, IoT integration, and smart contracts. With VaccineLedger, we aim to redesign and reorganize traditional supply chain information systems to provide continuous visibility and full traceability. âWith the help of VaccineLedger, vaccine manufacturers and governments can work together to prevent counterfeiting, cold chain failures and stockouts,â said Sid Chakravarthy, founder and CEO of StaTwig. StaTwig is a startup in the UNICEF innovation fund portfolio and the World Economic Forum’s global innovator focused on resolving supply chain failures in several critical sectors such as vaccines and food with Easy-to-use applications that take advantage of its highly scalable and secure blockchain-based supply chain management platform.
(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)