HashCash Eyeing a Blockchain Consortium for Medical Supply Chain
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HashCash Eyeing a Blockchain Consortium for Medical Supply Chain

May 9, 2020      Zain Raza

The Californian block firm, HashCash is looking to bring multiple pharma companies together to create a consortium along with medical goods manufacturers too to address the supply chain issues exposed through blockchain during the pandemic.

The CEO of Hashcash, Raj Chaudhary has stated that the weakness of medical supply chain has been exposed during the pandemic and if a better system was in place, we’d have been less exposed to the virus. He believes that a robust, transparent and efficient system is needed post-pandemic and the onus falls on them to come up with it.  A consortium with all major players working together would help in dealing with the post-pandemic needs and also help in combating emergencies like this in future.

Even the big countries with a high health ranking failed to curb the damage caused by a coronavirus. The major health-centred failed and suffered from a lack of proper system in place. HashCash now wants to develop a Blockchain system which updates the concerned department beforehand about the depletion of sources. Also, a quality check is something they’re targeting via Blockchain too to help the manufacturers in meeting the specifications.  Smart contracts, transparency in buying and selling, and real-time tracking are on the list of HashCash new project too.

HashCash Attempt Different Than The Ones Before

Blockchain has been utilized in the health field but most of the emphasis was on maintaining the patients’ record but now HashCash believes that it is needed more than ever in the medical supply chain to better prepare us in the future for times of turbulence like this.

Seeing the companies with the most advanced healthcare crumble cause of coronavirus has raised serious doubts about the technology in place. Firms like HashCash now are starting to look at Blockchain technology as a must-have and not just another option because not just the medical supply chain, other chains have suffered too.

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#Blockchain Medical Supply Chain #Blockchain Technology #COVID-19 #Crypto News #Cryptocurrency Market #HashCash
Zain Raza
Zain Raza

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.