Blockchain to the rescue for vaccine drives!
A large database that holds key information like mass vaccination records needs to be completely secured and devoid of potential hacking. Vaccination programs are critical for the government’s strategy to manage the pandemic, for which blockchain technology offers the most efficient solutions to overcome the logistical hurdles.
The Hyderabad-based blockchain company and UNICEF Innovation Fund Portfolio startup, StaTwig has partnered with Tech Mahindra, the only Indian IT Service provider listed in Forbes’ Blockchain 50 2021. StaTwig had already been building a solution VaccineLedger since 2019 in India and the United States. Fast forward to 2021, with the whole world battling COVID-19 using vaccine drives. StaTwig has partnered up with Tech Mahindra, to roll out its solution worldwide.
VaccineLedger is an open-source platform and designed to perform end-to-end traceability at a vial level for vaccines in the global supply chain. It prevents the need of replacing the existing system, therefore, removing the barriers of adoption. It can easily integrate with existing systems and show immediate results in the countries where it is deployed.
India has been facing a major collapse in the supply chain as the manufacturing companies were not able to keep up with the demand for vaccines amidst the destructive second wave. The government found itself overwhelmed, underprepared. VaccineLedger focuses on improving the transparency of vaccine supply chains, aiming to predict and prevent issues such as stock expiry, counterfeiting, quality control, and availability.
A few days ago, an attempted vaccine swap deal between Israel and the United Kingdom failed to come together — resulting in the imminent waste of 1 million Pfizer doses — a solution to overcome these issues is the need of the hour. Perhaps, if this technology was implemented prior to the second wave, India would have been able to put up a better fight. However, implementing this in time before a third wave might be our Knight in Shining Armor!
“Wastage of life-saving drugs such as vaccines should be addressed on priority, and we need to come together in order to effectively find a solution here. This will not only ensure safety and validity of vaccine supply but also helps in adherence to complex regulatory requirements, set up by Drug Administration Authority in any country,” said Rajesh Dhuddu, VP of Tech Mahindra.
The companies make a powerful duo capitalizing on their respective assets. StaTwig will leverage Tech Mahindra’s go-to-market expertise, including access to sales and customer networks, domain experience, resource scale, and system integration knowledge. Tech Mahindra also has built the largest private blockchain network in the world and have been leading Blockchain initiatives and implementation across the world. Tech Mahindra will leverage StaTwig’s blockchain system scalability, its solid ties with UNICEF, and other advanced know-how to implement the solution worldwide smoothly. This partnership is well powered with resources and industry knowledge to take on the global challenge!
Through this shining partnership, the companies will work towards building a global consortium of vaccine researchers, governments, pharmaceutical companies, distributors, and healthcare workers. It is estimated that given the current situations, logistics systems, and political factors, the whole global population will be vaccinated only in the next 4–5 years. But technologies like VaccineLedger can be a turning point that speeds up the whole strategy.
“With VaccineLedger, we are aiming to re-design and re-engineer the traditional supply chain information systems to give continuous visibility and complete traceability,” Sid Chakravarthy, Founder, and CEO of StaTwig.
COVID-19 has taken away a lot from us, and blockchain and cryptocurrency have given back a lot to us. Will blockchain technology be the one that leads us to the end of this dark road with such solutions?