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Washington D.C., Feb 16^th.  AVC Global highlighted as a use case for GBBC report at the World Economic Forum meeting in Davos. The Global Blockchain Business Council (GBBC) released it’s 2022 annual report titled “Stronger together: Rebuilding after the Maelstrom of Markets”.  

The report highlights AVC Global’s collaboration with Hedera in Tackling Counterfeit Drugs and Goods on the supply chain. Excerpts from the report: “AVC Global offers a next-generation, intelligent supply chain platform that maximizes efficiencies, eliminates fraud, and ensures the quality of goods, protecting both producers and consumers.  

To deal with the increasingly international nature of the pharmaceutical industry, AVC used Hedera to develop a blockchain platform with a consensus mechanism that reliably and securely validates and records all of the transactions across complex, multi-party supply chain networks in an immutable, transparent, and secure way.  

AVC’s platform ensures compliance with various national regulatory conditions as well as customs requirements – not just for the movement of pharmaceuticals in and out of different country jurisdictions but also the collection of taxes and customs duties on these drugs.  This is a much-needed and important initiative in eliminating fraud and counterfeit drug businesses.”

Cofounder and CEO of AVC David Todd said, “The AVC Technology Platform with Blockchain will revolutionize the delivery and integrity of supply chains. We are excited and proud to collaborate with Hedera to deliver accountability and transparency to supply chains in partnership with National Governments. We thank Hedera for the profound collaboration that contributes positively to society on so many levels.”  

AVC platform incorporates Hedera Hashgraph, Hyperledger Fabric, rfxcel, and Amazon AWS into the offering and brings the world’s leading technology companies to national governments. This platform will also provide access to supply chain financing, which will help businesses and assist Governments in building uninterrupted supply chains while helping them towards their legislative requirements for Digital Transformation.

Link: https://gbbcouncil.org/wp-content/uploads/2023/01/Annual-Report-2022-GBBC-and-GDF.pdf

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For Media Enquiries:

AVC/MVC: Vice President of Eurasian Operations, Tim Williams. TimW@AVC.Global