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Tracking Drugs on Blockchain: How Significant Is Walmart and IBM's New Collaboration?

Published 06/22/2019, 02:57 AM
Updated 06/22/2019, 03:21 AM
Tracking Drugs on Blockchain: How Significant Is Walmart and IBM's New Collaboration?
WMT
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IBM
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Walmart (NYSE:WMT) is no stranger to distributed ledger technology (DLT). Back in October 2016, the multinational food retailer began collaborating with IBM (NYSE:IBM) on a blockchain-based system that could identify and flag recalled foods. Since then, it has dived into a number of patents and trials — e.g., tracking meat in China, tracking delivery drones, patenting smart deliveries and tracking live food in the United States.

And in addition to several other U.S. patents and global initiatives, Walmart has recently announced its latest foray into applying blockchain technology. This is its collaboration with the Food and Drug Administration, which — in conjunction with IBM, Merck and KPMG — will see it working on the development of a proof-of-concept blockchain for identifying and tracking prescription drugs.

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