Nodalblock, a blockchain company based in Spain and Halifax, has secured healthcare giant GlaxoSmithKline plc as a client.
Nodalblock released a statement last week saying it had been selected to develop a blockchain-based solution for quality assurance for GSK’s factory in Aranda de Duero, Spain.
GSK Aranda, which is working with the Insomnia Innovation Hub, chose Nodalblock to minimize the time needed to review documents that accompany each batch of manufactured products or packaging. Thanks to blockchain technology, the solution will provide greater security and transparency, certifying the entire process, said the statement.
“We look forward to working with GSK to improve their quality assurance process,” said Nodalblock CEO Daniel Faria. “Our data security platform will allow GSK managers to save time and reduce administrative costs, while increasing compliance transparency using third-party verifiable documentation."
Based in the U.K., GSK researches, develops and manufactures drugs and other healthcare products. The company has a total stock market value of £77 billion (C$135 billion) and about 100,000 employees in 150 countries.
While Nodalblock was founded in Madrid and has 15 employees in the Spanish capital, it received investment last year from Halifax-based Numus Financial, which assembled an executive team in Halifax, including Faria. The company has a range of products including digital identity, document verification and ticket distribution.
Blockchain is a series of digital ledgers that various parties can access to exchange digital money or use to perform other tasks. The chain keeps a permanent record of who entered and what they did, guaranteeing a high level of security.