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Sunday, September 24, 2017

Blockchain News: Big Pharma Turns to Blockchain to Track Meds

Big Pharma Turns to Blockchain to Track Meds

The pharma industry may be on the verge of solving a longtime problem: How to stop a flow of stolen or counterfeit pills entering the supply chain and trickling down to patients.

The answer comes in the form of blockchain technology, a form of software that runs across multiple computers, and creates a tamper-proof, indelible record of transactions.

On Thursday, a group of companies announced the MediLedger Project, which is creating blockchain tools to manage pharmaceutical supply chains. The group, which includes drug giants Genentech and Pfizer, has already completed a successful pilot program to track medicines.

If the project meets its goals, everyone from drug makers to wholesalers to hospitals will be recording drug deliveries on a blockchain. What this means in practice is that, at each step of the distribution process, a network of computers will vouch for the provenance and authenticity of a drug shipment—making it harder for thieves to unload stolen medications, or for counterfeiters to introduce fake wares.


Full story at http://for.tn/2ymqRM7


Source: Fortune


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