China’s Second-Largest Courier Services Provider to Employ Blockchain to Track Movement of Medicines!
SF Express, China’s second-largest courier services provider, is examining the utilization of blockchain technology for the movement of crucial supplies during the ongoing COVID-19 pandemic.
Blockchain to Keep Track of Crucial Medical Supplies
In an attempt to make the supply chain of essential medical supplies more transparent amidst the coronavirus pandemic, one of China’s largest courier service providers, SF Express, is ready to use DLT (distributed ledger technology) and big data-based solutions. As per the Shenzhen-based courier service firm, blockchain technology’s transparent and immutability characteristics can assist in bringing a degree of transparency in the supply chain mechanism of crucial medical products.
The courier service stated that it is examining the utilization of blockchain technology for tracking the origin and assuring the quality of medical goods being supplied to the needy hospitals and healthcare facilities. The service will be capable of tracking, verifying, and recording each transaction in the logistics process, and recognizing the preference level of each order, as per sources close to the matter.
The declaration adds that SF Express has already commenced the application of distributed ledger technology for several purposes, including the transportation of products and increasingly high standards, which involve food and medicines.
The report reads in part: “In addition to blockchain, SF Express is also reportedly using big data to build a trackable logistics network, which will be able to effectively identify supply priority levels and minimize the risk of fake and unqualified products entering the market. New technologies such as blockchain, data tracking, and artificial intelligence (AI) are ensuring supplies of emergency products and helping the frontline medical workers control the disease.”
In a similar style, Chinese e-commerce behemoth, Alibaba Group has also boosted its attempts to regulate the destructive influence of the deadly COVID-19 virus. The firm has used various diagnostic systems supported by AI (artificial intelligence) to enhance diagnostic efficiency on the frontline.