Sonoco ThermoSafe, a unit of Sonoco, the global provider of temperature assurance packaging for pharmaceutical distribution, is building PharmaPortal, a vendor-neutral blockchain platform for pharmaceutical manufacturers and carriers. Built on IBM Blockchain Transparent Supply, PharmaPortal intends to meet the industry’s needs to trace assets across many different supply chain participants.The openly governed blockchain network built on open source technology will initially focus on end-to-end traceability of temperature-controlled drugs, such as vaccines, and provide an audit trail of environmental condition monitoring to help protect the efficacy of these life-saving, life-extending and life-enhancing medicines.The company is inviting other industry stakeholders to participate. “Only through the collaborative efforts of all members of the temperature-controlled pharmaceutical distribution process can we achieve the safety and efficiency that the world needs from us in this critical time,” said Howard Coker, president, and chief executive officer of Sonoco. IBM has had success working across several sectors where implementing blockchain networks transformed the supply chain’s efficiency and effectiveness, and we see the same opportunities in the pharmaceutical space.”Despite improvements, the US$ 230 billion…
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