I am happy with the developments on this subject. For example, in recent weeks, two companies announced COVID-19 vaccines with a success rate of over 90 percent. It's impressive that vaccines have been improved in such a short time, as well as their effectiveness, but how they should be distributed remains a question mark.
Blockchain technology could play a critical role for these vaccines to reach the millions that the whole world has been waiting for. It will undoubtedly take time for vaccines to reach millions of people. In addition, how to protect the vaccines in this process is an important issue that should be emphasized. Netta Korin examines this issue in an article published on the website of the World Economic Forum (WEF).
Blockchain technology allows multiple parties to manage and share a decentralized database. The storage conditions of the vaccines developed by Moderna and Pfizer differ. Moderna's vaccine requires a temperature of minus 20 degrees Celsius, but can be stored in a normal refrigerator (2-8 Celsius) for up to a month. Pfizer's vaccine, on the other hand, requires a much cooler environment (minus 70 degrees Celsius) and can only last up to five days under normal cooling. Therefore, proper storage of vaccines is vital for their effectiveness.
These parties can create and share a transparent source of truth that can be mutually agreed upon. So how will buyers be sure the vaccine is stored correctly? Is it possible to follow the vaccine stores by following the whole process? The answer may lie in blockchain technology.
As a result, blockchain can be an excellent infrastructure option for supply chain management platforms, as it meets two key prerequisites for building digital trust:
It does not belong to anyone, but instead provides a general standardized protocol through which all participants in the supply chain can combine and share relevant data.
It is immutable, so existing information cannot be deleted, it can only be added, resulting in a higher level of accountability for each participant writing the new data.
Another major advantage is the relative simplicity of managing read / write access permissions on the blockchain. So blockchain-based supply chain management platforms are highly efficient and secure.
Technology can solve some of the most stubborn challenges of standard supply chain management. For example, accountability of participants, accuracy in product tracking, fighting potential counterfeits, challenges in stock management, and more. However, in this case, the biggest advantage of the block fig will be the stability of the storage conditions data. Given the vital importance of storage temperature, vaccine dispensers will need to make sure that all storage conditions are met and at the same time prove conclusively that they have been met. Ensuring storage temperature data is recorded in a stable database can provide this proof by removing any shadow of doubt that vaccines are safe and effective.
Some of the potential benefits of blockchain-based vaccine supply include:
Distributors will provide a more efficient delivery tracking platform, including storage requirements verifications. If something goes wrong, it will be the first to know and notify.
Hospitals and clinics can reduce supply and demand constraints by better managing their inventories, and receive assurances of vaccine originality and proper storage conditions.
Individuals can have the same coverage for the specific vaccine they receive. Manufacturers can track whether shipments are delivered to their destination on time.