Molecular Data Inc. (NASDAQ:MKD) has upgraded its platform using Blockchain for its current chemical business.
With properties of Blockchain including traceability and transparency, such an adoption can be applied in numerous processes from the front to back end in the current business to improve credibility.
Also, the transactions efficiency and safety will be enhanced.
Molecular Data Inc. (“Molecular Data” or the “Company”) (Nasdaq: MKD), a leading technology-driven platform in China’s chemical industry, announced that it has signed a cooperation agreement with Dalian Lianhua Chemical Co., Ltd. (“Dalian Lianhua”), a leading manufacturer in the subdivision field of boric acid compounds in China. In the future, the two companies will combine the strengths of both parties to help the rapid development of R&D in domestic pharmaceutical companies and the drug synthesis industries.
Molecular Data is already using digital tools including big data and neuron network to achieve the intelligent optimization of the industry supply chain. The selective use of Blockchain including Blockchain Oracle, decentralized oracle network will empower the scientific research progress of domestic pharmaceutical companies.
With the signing of the cooperation agreement, this will put hundreds of products such as boric acids, reagents and chiral compounds produced by Dalian Lianhua, on the Molecular Data e-commerce platform.
Lianhua and Molecular Data intends to jointly serve a wide range of pharmaceutical companies and biotechnology, agro-chemical and special chemical companies globally.
As the two parties work together, they can yield better intelligent digital systems and create one-stop e-commerce platforms to provide industry customers with higher quality Compounds and intermediates, This will not only help better new drug R&D, it will also improve industry R&D efficiency, and help companies improve their scientific research capabilities.
Dalian Lianhua Chemical Co., Ltd. was established in 2004. With hundreds of pharmaceutical chemicals developed and industrialized, their main products dominate the international market.
It is a professional manufacturer of organic boric acid products and chiral products, and an industry-recognized supplier of key raw materials for pharmaceuticals and new materials. The company focuses on technological innovation and the industrialization of core products and has independent intellectual property rights, and has applied for numerous national patents.
Molecular Data Inc. (“Molecular Data” or the “Company”) (Nasdaq: MKD), a leading technology-driven platform in China’s chemical industry, today announced that it has signed a cooperation agreement with UCloud Technology Co., Ltd. (“UCloud”, stock code: 688158), the first China listed company in cloud computing.
The two parties will integrate their respective high-quality resources and jointly launch industry solutions and service systems to help Digital and intelligent transformation; including upgrading of chemical, medical, new materials and other industries.
This move to address the inadequacies faced in the various industries will also include deploying Blockchain solutions accordingly.
Hua Kun, the co-founder and COO of UCloud, Jiang Jianbiao, the head of expansions cooperation of UCloud, and senior management from Molecular Data attended the signing ceremony.
UCloud is a neutral and secured cloud computing service platform. The company has an in-depth understanding of the business needs of traditional industries in different scenarios, and provides comprehensive industry solutions including public cloud, hybrid cloud, private cloud, and proprietary cloud.
Molecular Data’s senior management introduced that driven by the new energy industry, new materials industry and the new economy, the chemical industry has entered a new stage of refinement, digitalization and diversification. However, the overall IT technology and digitization capabilities of the chemical industry remains weak.
Molecular Data hopes to work with UCloud; using leading companies in the chemical industry as a benchmark, where both parties will jointly create a full value chain and bring comprehensive solutions for the vertical segmentation of the chemical industry.
Hua Kun, co-founder and COO of UCloud, said: There is a lot of room for digitalization in the chemical industry. The chemical industry has high requirements including the security of IT architecture, and at the same time it must meet the requirements of simplicity, ease of use, and convenience in both operations and maintenance.
UCloud has the ability to provide chemical companies with cloud services and integrated software and hardware delivery solutions. UCloud will utilize Molecular Data’s application services and data systems in the chemical industry to jointly provide products and solutions to help the digital transformation and upgrading of the chemical industry.
At present, the joint product team established by Molecular Data and UCloud has focused on the two key directions. Firstly in the digitalization of leading enterprises in the industry and secondly, the upgrading of the industry’s cross-border transaction system.
