Nippon Express plans to invest up to 100 billion yen approximately one billion USD into a blockchain-based transportation network for pharmaceuticals.
According to an article from the Nikkei newspaper, the Tokyo-based company intends to develop its own line of drugs starting in 2021, which will require real-time tracking of products through warehouses and status updates for quality control teams.
Nippon Express will be working with others at home and abroad to develop this pharmaceutical network compatible with blockchain.
Accenture will build a system of sensors to check the temperature of products on trucks and in warehouses. In addition, Intel Japan will be providing radio-frequency identification (RFID) tags to track the location of each shipment.
Combined, these sensors and RFID tags will allow manufacturers, wholesalers, and medical institutions to track the pharmaceutical development process in real time using blockchain.
From the import of raw materials and products to delivery at medical institutions, the contributions from Intel and Accenture will be installed throughout Nippon Express factories, warehouses, and trucks.
Data at each stage will be uploaded to the blockchain, providing the condition, position, and status of each shipment.
Nippon Express’ news comes a mere month before the TEAMZ Blockchain Summit 2020 is to be held in Tokyo. Though there has been speculation on the event being cancelled due to the coronavirus outbreak, nothing has been announced at this time.