AVC Global and its Bahrain Blockchain pharma subsidiary MVC integrate with HederaHashgraph

In addition, with governance as a key concern, especially when working for a National Government, AVC and MVC needed to leverage a network with transparent governance. The Hedera network is governed by a growing group of large, highly respected enterprises and institutions, including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group. 

Serial entrepreneur Leo A. Giacometto, Co-Founder and Chairman of AVC Global and President of MVC, commented, "Our platform harnesses Distributed Ledger Technology and our "SmartHub" is a key component of the platform ecosystem. It is the hub of ingress and egress into the AVC/MVC network and is the foundation for establishing cryptographically verifiable and auditable "ground truth." It works with a variety of inputs to validate Smart Contracts through our "SmartPass", which is utilized for compliance, certification, clearance, and digital supply chain financing and settlement.

David J. Todd, noted entrepreneur and co-founder and CEO of AVC/MVC said, "The "SmartPass" process is revolutionary in its own right. It is structured to comply with dynamic document and data structures, financial and regulatory regimes based on governing terms and conditions that can vary throughout the supply chain while maintaining the verifiable integrity of the established "ground truth" along a complex journey through the supply chain. To accomplish this requires the most robust consensus and auditable 3rd-party governance possible.  The AVC team believes that is precisely what Hedera has achieved, and we are excited to take this next step in the evolution of technology together with them."

Mance Harmon, CEO and co-founder of Hedera Hashgraph, said, "AVC/MVC are leading the industry with its ability to enable supply chain networks to maintain trusted "ground truth", as materials move through the end-to-end supply chain. As the world gears up to distribute new vaccines globally, to millions of people, with complex requirements, never has the need for this transparency and security in the pharmaceutical supply chain been more urgent. We are pleased that AVC, and MVC, who currently runs the Track and Trace Program for the Kingdom of Bahrain, has integrated the Hedera Consensus Service into their platform to help provide this transparency and computational trust."