Veterinary industry adopts blockchain for $281 billion pet care pot

The United States veterinary industry has joined many other fast-advancing sectors to adopt blockchain technology to provide an unalterable record of veterinary practitioners’ identifications.

The partnership between IBM and Ethos Veterinary Health would finally enable blockchain tech to be launched in the veterinary education industry.

This announcement was made public through a press release published today by IBM. It noted that the blockchain company will be working with the online veterinary education specialist (VetBloom), and US-based Ethos Veterinary Health’s digital learning ecosystem, to create a blockchain system of identification for the veterinary care industry.

The statement also noted that both parties have already created a functioning prototype but are currently looking to create a second version of the product.

Higher level of transparency within supply chains of industries

With the recent advancement in digital technology, many industries and companies are adopting Blockchain tech to provide a higher level of transparency within its supply chains, such as the banking industry, agricultural industry, educational industry, etc and its previously traditional animal care sector joins the bandwagon.

Although blockchain is still quite a new initiative, it is being referred to as the new internet. In explanatory terms, blockchain is a time-stamped series of a perpetual record of data that is managed by a host of computers, and not an individual entity can own and manipulate the data.

An undeniably ingenious innovation each of these “blocks” of data is protected and “chain” to each other using cryptographic systems.

The new initiative will give digital badges after completion of educational duty. The ID will be stored using blockchain tech, these will provide an unalterable, tamper-proof record of a vet practitioners’ identifications.

Blockchain tech to protect your pet

According to data from research firm Ascential, by 2023, the pet care industry is expected to rise to $281 billion. With blockchain technology, all kinds of data can be kept and transmit upon request.

Blockchain platform possesses a lot of benefits for the animal care industry because it will be able to provide users all around the world the safety of their beloved pets. By ensuring that information about their pet is safe and cannot be tampered with or controlled by others.

It will help in keeping very detailed data, making sure no one can deny the failure to follow the defined process set down by the vet association board.

Also, blockchain tech is cheaper as it reduces costs at operational levels by eliminating the verification process. As it serves by reducing the excessive documentation and hassle of paper money, the pet industry is gradually embracing blockchain technology.

Leading veterinary organizations support the new blockchain initiative

The Association of American Veterinary Medical Colleges (AAVMC), the International Council for Veterinary Assessment (ICVA), the American Animal Hospital Association (AAHA), among many others have given their approval and declared their support towards this new initiative.

Alex Kaplan, IBM’s global leader of blockchain and AI for Credentials, expressed his joy with the partnership VetBloom and further added that IBM foresees a big future for the concept of blockchain credential systems in the veterinary industry and beyond.

Patrick Welch, the founder of VetBloom and Chief Knowledge Officer of Ethos vet Health, was also quick to guarantee the success of the new initiative.