Tech Mahindra has announced a global partnership with StaTwig, a Singapore and Hyderabad-based digital supply chain solution provider, to implement the vaccine traceability platform "VaccineLedger."
The VaccineLedger blockchain, according to the IT firm, is intended to improve transparency and prevent failures in vaccine supply, such as the distribution of expired vaccines, stock depletion, and counterfeiting.
The blockchain is an open-source platform designed to perform end-to-end traceability of vaccines in the global supply chain at the vial level. It eliminates the need to replace the existing system, removing adoption barriers.
It's indeed simple to integrate with existing systems and produces immediate results in the countries where it is used.
According to the statement, Tech Mahindra and StaTwig will collaborate to build a global consortium of vaccine researchers, governments, pharmaceutical companies, distributors, and healthcare workers through this partnership.
This is not the first time that Tech Mahindra has expressed interest in blockchain solutions. It began working with local edtech firm Idealabs last year to develop blockchain talent in India, and it later announced that it will offer blockchain solutions to global customers via Amazon Web Services (AWS).
Sid Chakravarthy, Founder, and CEO, StaTwig, said, “With VaccineLedger, we are aiming to re-design and re-engineer the traditional supply chain information systems to give continuous visibility and complete traceability. With the help of VaccineLedger, vaccine manufacturers and governments can work together to prevent counterfeiting, cold-chain failures and stockouts.”
StaTwig will benefit from Tech Mahindra's go-to-market expertise, which includes sales and customer network access, domain experience, balance sheet support, resource scale, and system integration knowledge.
Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader – APAC and EMEA, Tech Mahindra, said, “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."
"Our strategic partnership with StaTwig will enable supply chain participants with a single application to enhance traceability, and chain of custody. 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,” he added.
In addition, Tech Mahindra has invested in the co-development and testing of various enterprise security modules for mobile and web applications in order to support the unique requirements of manufacturers and state governments.
StaTwig, a UNICEF Innovation Fund Portfolio startup and a World Economic Forum Global Innovator focused on solving supply chain failures in multiple critical industries such as vaccines and food through user-friendly apps that leverage its highly scalable and secure blockchain-based supply chain management platform. On the other hand, Tech Mahindra, a subsidiary of Indian conglomerate Mahindra Group.
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