IoTeX, a Silicon Valley company that uses blockchain to secure the Internet of Things (IoT), and the Industry IoT Consortium (IIC), a global enterprise consortium focused on emerging IoT solutions, announced today the launch of a new blockchain-focused Test Drive for Valuable Asset Tracking (VAT).
Founded by Bosch, Dell, GE, Huawei, and Microsoft, the IIC consists of 300+ technology organisations that accelerate the development and adoption of interconnected machines and intelligent analytics. VAT is the first Test Drive within the IIC to incorporate blockchain technology for the purpose of creating a more trusted medical supply chain.
The new Valuable Asset Tracking (VAT) Test Drive combines tamper-proof hardware (TEE) and tamper-proof software (blockchain) to create a trusted solution for tracking scarce or valuable assets within a medical facility or among entities of a medical network, according to a press release. As highlighted by the COVID-19 pandemic, shortages in high-demand medical assets forced hospitals to scramble for equipment without an effective way to track the availability of medical equipment (e.g., ventilators) or location of time-sensitive medical supplies (e.g., vaccines, PPE).
The VAT Test Drive is centered around the IoTeX blockchain and Pebble Tracker, a tamper-proof asset tracking device that captures and cryptographically signs real world data (e.g., GPS location, temperature, humidity, motion, light) that are persisted on the blockchain and verifiable by anyone. These unbiased, transparent, and immutable insights regarding the location and condition of valuable medical assets can eliminate bottlenecks, streamline operations, and reduce costs for all stakeholders.