Hedera Consensus Service and MVC Track-and-Trace Platform Now Fully Integrated for Pharmaceutical Supply Chain Compliance and Finance
WASHINGTON and DALLAS, May 24, 2021 /PRNewswire/ -- Medical Value Chain, "MVC", the Bahrain-based subsidiary of US based AVC Global, who provides the Kingdom of Bahrain with the leading track-and-trace platform for global pharmaceutical supply chain compliance, today announced the completion of a strategic technology integration with the Hedera network and the Hedera Consensus Service. Hedera Hashgraph is the most used enterprise-grade public network for the decentralized economy
MVC's SmartHub with SmartPass technology is a quantum leap forward in how nations implement and finance GS1 standard pharmaceutical traceability programs, which increase patient safety, reduce fraud, and optimize cash flow, trade finance and customs clearance across the global supply chain.
Sheikha Dheya Bint Ebrahim Al Khalifa, MVC Co-Founder and Chairperson, said; "It is an honor to have Hedera Hashgraph, a best in class technology and the most used enterprise-grade public network globally, partner with us in Bahrain. Our team and partners have brought online the world's first blockchain and distributed ledger-powered track-and-trace platform, with a trusted secure value chain that includes supply chain financing options with traditional banks and emerging DeFi instruments. Today it is being deployed here in my home country of Bahrain for the benefit of our Bahraini citizens in our pharmaceutical delivery system, and soon we will provide this technology around the world."
"Supply chain management software is a $17 billion market1 and supply chain finance2 is a $1.3 trillion dollar market which are both ripe for disruption by platforms that take advantage of the cost, transparency, and security benefits that distributed ledgers offer," said Mance Harmon, CEO and Co-founder of Hedera Hashgraph. "We congratulate MVC on the completion and deployment of their SmartHub and SmartPass technology to bring computational trust to the pharmaceutical supply chain in the Kingdom of Bahrain, and look forward to seeing other nations and organizations benefit from their innovation going forward."
The MVC platform enables complete visibility of the pharmaceutical supply-chain. The SmartPass cryptographically represents the entire life-cycle of a supply chain including all of its events and transactions for all stakeholders involved including buyers, sellers, customs, 3rd party logistics, banking, customs and support operations.
How It Works
About MVC, a subsidiary of AVC Global
About AVC Global
About Hedera Hashgraph
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
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SOURCE Hedera Hashgraph