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PharmaTrue

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Technica '22

The Problem

Medicines fall under essential commodities and it is very important that pharmacies deliver the correct medicine which is verified by licensed professionals for the well being of patients. However, there are a lot of fake and counterfeit medicines and drugs in the marketplace today, which can cause grave damage to end users, on a massive scale — in fact the global sales of counterfeit drugs can range up to 200 billion USD per year.

The Solution

At its core, our solution is a blockchain-based application which would ensure the validity and genuineness of a drug throughout the supply chain, from the manufacturer to the end user.

Why Blockchain

Blockchains are one of the most secure forms of technologies that we currently have. Every batch of drugs will have a unique id which will be stored on the blockchain by the manufacturer. This unique id can then be verified by the distributor, the pharmacist and finally the end user. Each of these batches will be a smart contract on the block chain and as the batch progresses through the supply chain transactions will be added(eg: when the batch reaches the distributor a transaction will be added and so on).