NEW YORK and SINGAPORE, Nov. 20, 2023 /PRNewswire/ — In a landmark move, four eminent organisations have united under a Memorandum of Understanding (MOU) signed on 17 November 2023. This alliance aims to digitise and certify Bhutan’s treasured Sowa-Rigpa, the ancient Traditional Medicines known for its complex diagnostic techniques and use of natural herbs. This initiative seeks to merge this esteemed tradition with contemporary technology, enhancing transparency, traceability, and worldwide recognition of Bhutan’s rich medicinal legacy.
The MOU’s signatories are:
1) Druk Holding and Investments: The commercial and investment arm of the Royal Government of Bhutan.
2) Menjong Sorig Pharmaceuticals Corporation: A wholly owned entity of Druk Holding and Investments.
3) The GrowHub Innovations Company: A Singapore-based firm specialising in open and sustainable supply chain management, leveraging blockchain technology for traceability and big data analysis.
4) Trend Tech Consultancy: A Singapore-based IT services provider specialising in system automation, testing, and training.
The GrowHub Innovations Company’s Technological Contributions
The GrowHub Innovations Company will contribute its proprietary blockchain platform to authenticate the origin and quality of herbs and plants from farm to consumer. Lester Chan, CEO, expressed excitement about the collaboration and the platform’s capability to offer consumers detailed insights into the origins of medicinal plants. The GrowHub will oversee big data collection and analysis, focusing on harvest predictability, climate impact assessments, and other crucial factors influencing future harvests. This partnership will also facilitate global collaboration at the GrowHub Innovation Centre in Western Australia, aiming to enhance sustainable cultivation practices and customise systems suitable for Bhutan. The initiative will further empower Bhutanese companies to collaborate with international researchers and producers, fostering innovation and research in traditional medicine.
Digital Transformation via Trend Tech Consultancy
Trend Tech Consultancy will be instrumental in system automation, process testing, and training. CEO Ronnie Lee emphasised the potential of digital transformation to enhance local community productivity and skills development.
Bridging Traditions and Innovations
More than a technological alliance, this collaboration represents a fusion of traditional practices and modern innovation. It aims to promote Sowa-Rigpa Traditional Medicines globally, reinforcing Bhutan’s status as a premium herbs and medicinal plant provider. Tshering Tenzin, CEO of Menjong Sorig Pharmaceuticals Corporation, highlighted the potential of this initiative to uplift local communities, raise global awareness of Bhutan’s medicinal heritage, and establish the country as an innovation centre for traditional medicine. This significant stride towards preserving Bhutan’s cultural and historical legacy in the digital era marks a new chapter in blending conventional wisdom with technological advancements.
About The GrowHub Innovations Company
The GrowHub Innovations Company is a leading Singapore-based technological firm dedicated to providing cutting-edge solutions for transparent and sustainable supply chain management. As Asia Pacific’s only Web 3-enabled plug-and-play ecosystem builder, The GrowHub focuses on traceability, data insights, and carbon credits. Leveraging blockchain technology, the company ensures full traceability throughout the supply chain, empowering businesses with data-driven insights for a more connected and responsible future.