News outlets online has recently reported that retail giant Wal-Mart is joining a blockchain-powered pharmaceutical consortium MediLedger.
It was also revealed that retailer giant is already planning to roll out a pilot project that will enable it to track pharmaceutical related products using the aforementioned technology in collaboration with the United States Food and Drug Administration.
With this latest move, Wal-Mart joins other pharmaceutical companies that has joined the project, these includes Pfizer which joined the MediLedger project early may, McKesson Corporation, AmerisourceBergen Corporation and Premier, Inc.
The name of the consortium is officially dubbed as the MediLedger Project Contracting and Chargebacks working group.
This project was initiated by San Francisco-based Blockchain tech firm Chronicled to develop a system for trusted data sharing within pharmaceutical product supply chains, which strives to automate processes like contract reconciliation and eliminate associated costs.
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