San Francisco-based technology developer Chronicled has added healthcare consulting company Cumberland to its blockchain-powered network to support supply chain management.
Through the MediLedger Project, Chronicled and other organizations are seeking to use blockchain to improve processes in the pharmaceutical industry. The blockchain allows companies to establish a protocol for saleable return drug verification. Additionally, by using a blockchain solution, pharma companies can more easily track and verify prescription drugs, especially when products change ownership in merger and acquisition sceneries.
With Cumberland, Chronicled will continue to expand its permissioned blockchain network. Cumberland brings its expertise in contracts and revenue management systems with pharma manufacturers.
The end goal of the MediLedger Project is to create a network in which competitors and trading partners can dramatically improve processes they use to conduct business across the industry value chain.