Verseon Pharma Drug Discovery Company Opens Blockchain Securities Exchange
Verseon Launches Blockchain-powered Securities Exchange
Verseon, an American pharmaceutical firm, has announced that it will start using blockchain technology in its operations according to a press release published on September 18, 2018. The flagship product in Verseon’s portfolio is their proprietary physics-based drug discovery platform.
The firm was created in 2002 and has since grown tremendously. As of now, the company is listed on the London Stock Exchange and has a market capitalization value of $277 million (£211 million).
Lately, leading players in the pharmaceutical industry have been adopting blockchain technology because of its inherent security features. Similarly, Verseon will soon integrate this technology using its subsidiary, BlockRules. Verseon intends to launch, sell and trade in securities on a public blockchain. According to the press release, the blockchain will enable a secure and transparent support for securities, including decentralized trading. Moreover, it will help other pharmaceutical companies to revolutionize their funding and development strategies.
Adityo Prakash, the CEO of Verseon, believes that their company will transform the way pharmaceutical startups and innovations are funded by democratizing investment access through blockchain technology. Also, blockchain will ensure that proceeds from crowdsales are distributed efficiently.
As noted earlier, Verseon is one of the many medical institutions that have embraced blockchain technology. The primary reason behind the increasing popularity of this technology in the medical sector is its ability to safeguard the supply chain by ensuring drugs are not tampered with while reducing overall expenses in the process. This adoption cuts across all enterprises, including small business.
Recently, a hospital in Taiwan introduced a block-driven record-keeping system for sensitive patient data.