Verseon, a pharmaceutical platform now welcomes blockchain experiment
Verseon, a pharmaceutical company in U.S. has now entered the list of medical associations which are open to blockchain based experiments. Today, on 18th September the organisation published a press release shedding light on its new venture on blockchain.
This form of progressive technology has taken its first step towards the field of pharmacy in the recent times. Currently, an emerging trend surrounding the technology involves the significant pharmaceutical companies making use of the security benefits and data available on the blockchain.
BlockRules, a subsidiary of Verseon will leverage the advanced technology that “supports the sale, launch, and trading of securities on a public blockchain.” According to the release, this “permits fully regulated, secure, and transparent support of securities, including decentralized trading”.
In this regards, other pharmaceutical organisations would also get assistance for changing and modernising their developmental strategy and funding. Adityo Prakash, the CEO of Verseon has stated,”By democratizing investment access with blockchain technology, we will change the way new medicines and other life-science innovations are funded and how the resulting proceeds are shared.”
The primary product of Verseon is providing a platform to discover drugs based on physics. With its inception way back in 2002, the market cap of Verseon is $277 million and is currently trading on the popular London Stock Exchange.
2018 has already witnessed a number of innovations in the healthcare sector and Verseon’s latest initiative has added on to it. In the health industry, this technology plays a pivotal role to reduce the cost of production of the drugs. It also helps to make the supply chain operate in a more efficient manner and prevents tampering of drugs.
Blockchain technology in other fields
In the recent times, this technology has seen a number of developments in diversifying fields, all over the world. Apart from the healthcare sector, it has recently entered the public sector space in Spain. Aragon, an autonomous community will become the first in the nation to bring about adoption of blockchain and its likewise application in public administration.
Image via Shutterstock
Join our Telegram group