Harmony Medical (HKEX:0370) has revealed that its affiliate Hua Jian Medical is partnering with Renhe Worldwide, the total arm of Renhe medicine, to construct a brand new real-world asset (RWA) platform for over-the-counter (OTC) medicine.
The enterprise is described as the primary vertical RWA system devoted to OTC medicine, with the goal of streamlining the provision chain and growing transparency in China’s quickly rising OTC market.
Tokenization of OTC medicine for protected and real-time buying and selling
The venture continues to be underneath growth, however the firm mentioned it can tokenize OTC drug belongings, permitting protected, traceable and real-time buying and selling between producers, distributors and retailers.
By shifting drug stock and transactions to the Blockchain Rail, companions hope to scale back inefficiencies, scale back prices and enhance compliance with regulatory requirements.
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The position of Lenhe in expertise infrastructure
Renhe Worldwide brings the background to digital transformation and blockchain adoption to the initiative. Its position focuses on growing scalable and safe expertise infrastructures to help the platform.
Executives famous that the hassle displays Hua Jian’s broader technique of mixing healthcare and expertise, particularly within the distribution layer the place bottlenecks and fraud dangers usually happen.
Why is the Chinese language OTC market essential?
China’s OTC market is increasing in each city and rural areas as self-care and preventive drugs beneficial properties traction. Business knowledge cited by firms counsel that this healthcare phase might develop into a serious progress driver within the coming years.
Hua Jian and Renhe goal to speed up distribution, enhance responsiveness to altering demand and scale back friction in retail choices by digitizing and tokenizing the circulate of OTC medicine.
Affect on the business
Analysts say the partnership might be a mannequin for integrating RWA into Pharmaceutical Provide Chains.
If profitable, this framework might have an effect on how OTC medicine are traded not solely in China however throughout the worldwide healthcare market.
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