Datavault AI Licenses Smart Contracts Technology to Wellgistics Health for Pharmacy Network Integration
TL;DR
Datavault AI's smart contract licensing gives Wellgistics Health a competitive edge by reducing PBM costs and enhancing transparency across 6,500+ pharmacies.
Datavault AI's smart contracts integrate with PharmacyChain and EinsteinRx platforms using Web 3.0 technology to automate prescription tracking and pharmaceutical distribution.
This partnership modernizes pharmaceutical distribution by improving prescription transparency and reducing healthcare costs, creating a more efficient system for patients and providers.
Datavault AI's Web 3.0 smart contracts now power prescription tracking across 6,500+ pharmacies through Wellgistics' PharmacyChain and EinsteinRx platforms.
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Datavault AI Inc. (NASDAQ: DVLT) has exclusively licensed its proprietary smart contracts intellectual property to Wellgistics Health (NASDAQ: WGRX) for integration into the PharmacyChain and EinsteinRx platforms. This strategic partnership enables Web 3.0 smart contract functions across a network of more than 6,500 pharmacies, representing a significant step toward modernizing pharmaceutical distribution through advanced automation technologies.
The licensing agreement supports Wellgistics' comprehensive plan to streamline prescription tracking while reducing costs traditionally driven by Pharmacy Benefit Managers. By implementing Datavault AI's smart contracts technology, the healthcare company aims to enhance transparency for payers throughout the pharmaceutical supply chain. This integration marks a substantial advancement in applying blockchain-based solutions to healthcare logistics, potentially addressing long-standing inefficiencies in prescription drug distribution.
Datavault AI's technology portfolio includes the Information Data Exchange, which enables Digital Twins and licensing of name, image, and likeness by securely attaching physical real-world objects to immutable metadata objects. The company's cloud-based platform provides comprehensive solutions serving multiple industries, including healthcare, through its Acoustic Science and Data Science Divisions. Additional information about Datavault AI's technology offerings is available at https://ibn.fm/DVLT.
The implementation of smart contracts across Wellgistics' pharmacy network represents a practical application of Web 3.0 principles in healthcare infrastructure. By automating data processes and integrating artificial intelligence capabilities, the partnership seeks to create more efficient prescription fulfillment systems while maintaining security and compliance standards. This approach could potentially reduce administrative burdens on pharmacies while improving the patient experience through more transparent tracking mechanisms.
The collaboration between Datavault AI and Wellgistics Health demonstrates how specialized technology companies are increasingly partnering with established healthcare providers to implement innovative solutions. As pharmaceutical distribution continues to evolve, such integrations of smart contract technology may become more prevalent across the healthcare industry, potentially leading to broader adoption of Web 3.0 applications in medical supply chains and prescription management systems.
Curated from InvestorBrandNetwork (IBN)
