Drug medications are in huge demand worldwide. Such products move through a complex supply chain that crosses several international and regulatory boundaries. This chain comprises of players that create chemical compounds, medications, manufacturing and distributing companies, hospitals, dispensers, pharmacies, and patients.
Drug Counterfeiting is one of the most dangerous and major issues faced in today’s world. According to the World Health Organization(WHO), an estimate of 1 in 10 medical products in low and middle-income countries are substandard or falsified. At least 100,000 to 1 million people die every year due to falsified drugs.
Blockchain technology enables for a safer, simpler and transparent movement of medications. Blockchain in simple terms can be thought of as a global ledger that is used for storing data. Data once entered in the blockchain is permanent and impossible to manipulate. Our application is designed as a secure decentralized platform backed by blockchain technology for the safe movement of medications all over the world ensuring no room for illegal/fake drugs entering the supply chain.
- To provide a unified transparent platform to players all over the world.
- To make sure every user of our application is a genuine user with a valid identity.
- Ultimately, to make sure the drugs consumed by the patients are the right drugs.
Our application is divided into two main parts.
- Ensuring strong identity management - to make sure players of the supply chain (ex: manufacturer, supplier, pharmacy, etc) are valid and verified.
- Ensuring safe and secure movement of drug - to make sure the patient is consuming the genuine drug.
Movement of Drug
Blockchain gives us these three powerful features.
- Strong Identity - A valid & strong identity.
- Non-Repudiation - Cannot deny the authenticity of their act.
- Audit - Untampered records.
Blockchain gives the features of security, reliability, transparency, and thus maintaining a single source of truth.
Our application was successfully able to solve -
- Identity issue - all players in the supply chain are genuine and verified.
- Secure movement of medications using Blockchain.
- Reduce the number of deaths caused due to drug counterfeiting by a very huge margin.
- We can eradicate the illegal market of the drug supply chain in the society.