A Japanese logistics company is planning to incorporate a blockchain network into a new transportation system to be developed next year.
According to an article from the Nikkei newspaper, Nippon Express plans to invest up to 100 billion yen — approximately one billion USD — into a blockchain-based transportation network for pharmaceuticals. The Tokyo-based company intends to develop its own line of drugs starting in 2021, which will require real-time tracking of products through warehouses and status updates for quality control teams.
Partnering with Accenture and Intel
Nippon Express will be working with others at home and abroad to develop this pharmaceutical network compatible with blockchain. Accenture will build a system of sensors to check the temperature of products on trucks and in warehouses. In addition, Intel Japan will be providing radio-frequency identification (RFID) tags to track the location of each shipment.
How blockchain will be utilized at Nippon Express
Combined, these sensors and RFID tags will allow manufacturers, wholesalers, and medical institutions to track the pharmaceutical development process in real time using blockchain.
From the import of raw materials and products to delivery at medical institutions, the contributions from Intel and Accenture will be installed throughout Nippon Express factories, warehouses, and trucks. Data at each stage will be uploaded to the blockchain, providing the condition, position, and status of each shipment.
Blockchain summit scheduled for Japan in April
Nippon Express’ news comes a mere month before the TEAMZ Blockchain Summit 2020 is to be held in Tokyo. Though there has been speculation on the event being cancelled due to the coronavirus outbreak, nothing has been announced at this time.