After running a successful pilot temperature-monitoring solution based on blockchain technology, Swiss Post and Modum have announced their cooperation to fully implementing the solution for the shipment of Phamaceuticals.
The pilot solution was used to deliver temperature-sensitive products to key customers. Its success has paved way for full integration of the solution. The monitoring solution will be integrated with Swiss Post’s track-and-trace system.
Modum has developed a blockchain solution for the pharmaceuticals industry to aid in delivering of temperature-sensitive medicinal products. The solution is developed on blockchain technology and uses smart contracts and IoT technologies to monitor its environment. The pilot system was used to monitor temperature-sensitive shipments which were delivered safely to customers. This new cooperation will enable Swiss Post to streamline its track-and-trace system and be more efficient.
Benefits of the Shipment Solution in the Pharmaceuticals industry
The solution will provider players in the pharmaceuticals sector with a reliable solution to track and monitor their products in transit. The smart contracts on the parcels will enable the players to know the surrounding temperatures of each product while in transit. Also, it will help distributors know products arrived in the right conditions. The solution will also make audits efficient since data will be automatically sent to the blockchain data management system. The data management system will be easily assessable to the authorities hence enable industry players comply with the laws. The solution will also enable data management to be easy and efficient.
Implementation of the monitoring solution will also enable logistics providers and distributors to fully comply with the new law. The law requires temperatures of medicinal products be recorded and maintained according to set standards. The blockchain smart contracts on each parcel will record the temperatures around and send data automatically to the data management center. It will be easy to manage data and will eventually improve service delivery.
Modum monitoring solution will enable medicinal products to reach their destinations under the right conditions. Also, it will improve data management. Implementation of Modum solution in Swiss Post delivery system will demonstrate its effectiveness in the pharmaceuticals industry which will lead to more industry players using the solution across the EU.These developments to use blockchain in the shipping industry are timely.We are constantly seeing old school industries trying to adopt blockchain so as to remain relevant.