Switzerland’s national postal service Swiss Post is set to adopt a blockchain-based solution created by industry startup Modum in delivering pharma shipments and other temperature-sensitive products.
In a recent announcement, Modum, a Zurich-based Swiss startup that develops sensors which makes use of blockchain smart contracts and IoT technologies, revealed that it was partnering with Swiss Post in this venture. Modum said it had successfully done several pilot projects where it delivered various consignments involving temperature-monitored shipments.
Swiss Post which reported income in excess of $8 billion in 2016 is the second-largest employer partnering with Modum since the summer 2017; this according to a statement released by the firm on Monday. Both companies will work together to build “deeper integration” of the startup’s temperature-logging devices within Swiss Post’s track-and-trace system.
‘The solution will provide players in the pharma sector with a reliable and scalable process for monitoring the state of goods and demonstrating legal compliance to auditors,’ Modum said. ‘The fully wireless and digital, blockchain-based data-management solution also provides new levels of data insight and data handling.’
Modum is aid to provide a “passive monitoring solution” for the pharma industry with sensors that regularly track environmental conditions and checks data obtained against smart contracts on a blockchain to validate pre-determined requirements.
According to Modum, its pharma users are presently using the startup’s smart contract to record temperature thresholds for shipments.
‘If temperatures are recorded outside of these thresholds, a notification is sent to the sender and receiver,” Modum says, adding that its sensors have so far measured over 500,000 data points during its pilots.
Modum CEO Simon Dössegger added:
“Our collaboration with Swiss Post is the starting point for demonstrating our solution’s efficacy over conventional offerings in the market.”
If successfully installed, the blockchain-powered solution could make the regulatory aspect of the pharma industry easier.