The pharmaceutical industry is facing a major challenge of tracking drugs throughout the supply chain, which has resulted in an increase of counterfeit drugs in the market. To address this issue, a more secure and reliable system for tracing drugs is necessary. Blockchain technology has emerged as the solution that could provide the necessary technology to prevent fake drugs from entering the market and track legitimate drugs. Blockchain is a decentralized system that provides a secure record of data organized in blocks. Each block contains information about the date, time, price, and participants involved in each transaction. When a block is changed, the information in all blocks is updated, ensuring that the data remains up-to-date and secure.
One of the main benefits of blockchain is transparency. The lack of clarity in the supply chain can result in counterfeits, drug deficiencies, and opioids. Retailers, patients, and regulators need to know where drugs are produced and what their production process is. With blockchain, all of this information is stored in a secure, tamper-proof ledger that can be easily accessed by all stakeholders.
In addition, blockchain can help with compliance with regulations such as the Drug Supply Chain Security Act. Implementing these regulations can be time-consuming and require a lot of paperwork. With blockchain, the traceability requirements can be easily met, making it easier for pharmaceutical companies to comply with regulations.
The drug supply chain can be divided into four main parts: producers, transportation service providers, hospitals/pharmacies, and patients. Producers attach a QR code to the drugs that contains information such as the timestamp, product name, location, and production and expiration dates. This information is stored on the blockchain and can be accessed by all stakeholders in the supply chain.
Transportation service providers can use the hash ID stored on the blockchain to verify the source of the drugs they receive. Hospitals and pharmacies can then use the hash ID to trace the drugs back to their source and ensure that they are legitimate. Patients can also use their mobile app to scan the QR code on the drug’s packaging and verify its origin and quality measures.
By using blockchain, the drug supply chain is unity-driven, transparent, and secure. With reliable analytics providers and ethical advertising practices, you can ensure that your user data is protected from hackers and malicious vendors.
In conclusion, blockchain has the potential to revolutionize the pharmaceutical industry by providing a secure, reliable, and transparent system for tracking drugs throughout the supply chain. With blockchain, we can prevent the circulation of fake drugs and ensure that patients have access to safe, quality medications.
These client testimonies are straight from the horse’s mouth. We do not claim to be great in our service offerings, our clients do. Here are some of them:
Infistack Technologies PVT LTD demonstrated a hands-on approach in developing the application. The client lauded their attentiveness to details However, despite the positive remarks on the team's workflow, the project was unfortunately discontinued.
The client is exceedingly satisfied with Infistack Technologies PVT LTD’s quality work. Moreover, the team stands out for their resilience. Their developers act professionally, work hard to achieve goals, and provide the right support for project development and to keep production servers on track.
Infistack Technologies Pvt Ltd's engagement has resulted in an excellent outcome. They have managed to fix the issues on the client's portals and implemented new significant features. The team has executed a seamless workflow through adequate resources for communication, tracking, and time.
Despite their code having room for improvement, Infistack Technologies PVT LTD was able to deliver the requested final product. The team also upheld great communications and was very reactive during the project.
The software developed by Infistack Technologies PVT LTD helped the client significantly reduce their turnaround time. Their team interacted with the client on the fundamental level to understand the user's working process, resulting in better results. They also completed the project on time.
Infistack Technologies PVT LTD’s efforts improved the client’s reporting processes, increasing productivity fivefold. They fostered a smooth workflow through a collaborative and flexible approach. Beyond their top-notch project management, their technical expertise and guidance were impressive.