Nippon Express, a Japanese company dealing in logistics, is planning to integrate blockchain technology in a state-of-art pharmaceutical transportation system set to be developed next year.
The company has budgeted a considerable amount to the tune of 100 billion Yen, close to $100 billion, to build out a blockchain-powered transportation network for the pharmaceutical industry. By 2021, this Tokyo enterprise is all set to enter the pharma industry full-fledged and launch its own line of drugs by 2021. In order to venture into this, tracking of the products in warehouses and transit along it’s logistics chain, including quality control measures are a must.
How they will do it?
For this to become a reality, Nippon Express is employing all of its resources at home and collaborating with partners from abroad to achieve the to achieve their goal. Nippon has already partnered with Accenture to build sensors that check the temperature inside the trucks and in warehouses. Intel Japan also will contribute by rendering Radio-frequency identification tags for location tracking of the shipment which would track the location of the shipment.
These technologies will enable the manufacturers and other parts of the logistics chain including medical organizations the ability to track the shipments in real-time via blockchain technology. Nippon express factories including its out for delivery network and services will embed the technology contributions of Accenture and Intel. Whatever data is being accessed will be saved and uploaded onto the blockchain which will give the transparency and real-time status updates for every shipment.
The decision of Nippon Express came almost a month before the ‘Teamz blockchain summit’ to be held in the capital city of Tokyo. The summit is an important first step towards embedding blockchain technology more business undertakings. The date kept planned for the summit is April 22nd but whether or not it will happen due to the outbreak of Coronavirus is yet to be seen. Summit holders want this technology to be used in many other industries like Agriculture, fisheries, etc. The summit all set to take place in Japan proves that Japan is preparing itself for the future.
Assuming that the event takes place, the initiative taken by Nippon will receive a further boost when the moguls of the industry meet, interact and create initiatives for the betterment of the industry.