Aussie Microcaps Create Blockchain Solutions to Track COVID Cure

Thursday 10 September 2020, 7:00 AM AEST - 2 weeks ago

The international race to develop a vaccine for COVID-19 ahead of potential national rollouts has involved hundreds of pharmaceutical companies around the world — including Australian blood products enterprise CSL.

A number of Aussie tech companies are taking vaccination efforts further, developing the blockchain-powered infrastructure that will handle distribution.

Blockchain technology has a critical role to play in the fight against COVID. The immutable nature of blockchain technology allows supply chain enterprises to track the distribution of vaccines on decentralized ledgers, ensuring that all vaccines are delivered free from tampering and tracked from manufacture to administration.

Security Matters, a publicly traded Australian company, is currently developing a chemical-based hidden barcode system that works in tandem with unique reader technology, supported by blockchain architecture. 

Tracking COVID Vaccines on the Blockchain

The Security Matters supply chain tracking and quality assurance platform focuses on creating a physical to digital twin for tracked products, and is currently working on an application that will mark pharmaceutical products — including the COVID vaccine — with blockchain-tracked codes. 

Security Matters CEO Haggai Alon highlighted the ability of the blockchain-enabled tracking platform to assist in the distribution of pharmaceuticals in interview statements:

“We have been consulting with a number of major drug companies on how our application can benefit the sector amidst so much uncertainty,”

The pharmaceutical tracking application, set to launch in 2021, could potentially streamline the distribution of COVID-19 vaccines in Australia — but Security Matters isn’t the only platform focused on leveraging blockchain technology in the fight against Coronavirus. 

The APAC Provenance Council, for example, is currently working with VeChain in order to integrate blockchain technology into the food supply chain in order to promote COVID-proof food distribution.