Datavault AI and Wellgistics Health Partner on Blockchain Prescription Tracking System

Datavault AI and Wellgistics Health have signed a non-binding letter of intent to integrate blockchain technology into prescription drug tracking systems. The partnership will see Datavault AI's PharmacyChain smart contract technology implemented into Wellgistics' pharmaceutical distribution infrastructure, creating a digital tracking system that follows prescriptions from initial script to final fulfillment.

The collaboration represents a significant step toward modernizing pharmaceutical supply chains through blockchain verification. By digitizing the entire prescription process, the companies aim to ensure accurate, transparent and efficient medication delivery while supporting enhanced patient safety and optimized health outcomes. The system is designed to create an immutable record of prescription transactions, potentially reducing errors and improving accountability throughout the distribution chain.

Financial terms of the partnership include exploration of a revenue-sharing model based on PharmacyChain usage fees, with definitive terms to be determined following further negotiation between the companies. This approach suggests both companies see commercial potential in blockchain-enabled pharmaceutical tracking systems as the healthcare industry increasingly embraces digital transformation.

Datavault AI brings its expertise in AI-driven data experience, valuation and monetization to the partnership, leveraging its position in the Web 3.0 environment. The company's cloud-based platform provides comprehensive solutions serving multiple industries, including healthcare, through its Information Data Exchange technology that enables secure attachment of physical objects to immutable metadata objects. More information about Datavault AI's technology suite can be found at https://www.datavaultsite.com.

Wellgistics Health contributes its specialized knowledge as a next-generation pharmaceutical distribution and digital prescription routing company. The integration of blockchain technology into Wellgistics' existing infrastructure could potentially set new standards for prescription tracking accuracy and security in an industry where medication errors and supply chain transparency remain significant concerns.

The partnership comes as regulatory scrutiny of pharmaceutical supply chains increases globally, with governments and health organizations seeking better methods to track medication authenticity and prevent counterfeit drugs from entering the market. Blockchain technology offers potential solutions to these challenges by creating tamper-resistant records that can be verified by multiple parties in the distribution network.

Full terms of use and disclaimers applicable to this information are available at http://IBN.fm/Disclaimer. The companies have noted that certain statements regarding the partnership are forward-looking and subject to various risks and uncertainties that could cause actual results to differ materially from current expectations.