Nippon Express, Accenture, Others to Launch $1 Billion Blockchain Network
Nippon Express, a Japanese global logistics company, is partnering with Accenture and Intel Japan to create a distributed ledger technology (DLT) based transport network for pharmaceutical products and consumer goods, according to a Nikkei report on March 9, 2020.
Nippon Express Taps Blockchain Technology
In a bid to prevent counterfeiting of pharmaceutical products and consumer goods, Japan’s Nippon Express is joining forces with Accenture, a highly reputed professional service company, and Intel Japan to develop a blockchain-based transport network.
Per sources close to the matter, Nippon Express is looking to invest a whopping 100 billion Japanese yen ( about $1 billion) into the project, as it’s also looking to start manufacturing pharmaceutical products in 2021.
The blockchain-based system will make it possible for Nippon Express to track the products in its supply chain and warehouses in real-time, as well as carry out other quality control activities.
Making It Work
The team has hinted that Intel Japan, will be in charge of developing the radio frequency id (RFID) tags that will be used to track the movement of each cargo, while Accenture will create the sensors that will be used to check out the temperature of goods in both the warehouse and vans.
The team plans to integrate the above systems into the proposed blockchain solution, to enable manufacturers, scientific organizations, wholesalers and other stakeholders to trace the development process of pharma products in real-time.
Notably, the team has made it clear that the solutions to be developed by Intel Japan and Accenture will be installed in all Nippon Express factories, trucks and warehouses, to facilitate traceability of raw materials and products from various locations to delivery at medical institutions.
All important data concerning these raw materials will be stored on the blockchain, making it possible for stakeholders to have accurate information about each cargo.
It’s worth noting that forward-thinking organizations around the globe are increasingly tapping the immutability property of blockchain technology to foster transparency in their supply chains and curb product counterfeiting.
Earlier in February 2020, BTCManager reported that the Vermont Agency of Agriculture, Food and Markets (VAAFM) has inked a deal with Trace, to use blockchain technology to track all stages of hemp production.
Also, Daimler Ag, the makers of Mercedes Benz cars recently launched a blockchain pilot aimed at tracking carbon dioxide emissions in its Cobalt supply chain.