Blockchain technology can ensure that your pills are really what you think!
The fraudulent production and sale of counterfeit drugs is a multi-million-dollar business that stretches beyond national borders. And we are not talking about illicit substances. Prescribed medications are being counterfeited in order make a profit. Blockchain may be able to solve this problem.Every day, cancer patients, people with depression, or even malaria patients are legally prescribed medicine. However, even legally prescribed medicine can turn out to be counterfeit pills that found their way into the supply chains. This threat concerns both underdeveloped countries and highly-developed ones.Counterfeiters mimic the color, shape, and packaging of commonly prescribed pills. The most underprivileged and fragile people of our societies are being taken advantage of, and their health is put at risk. Some of the pills do contain lesser amounts of the active ingredients that are found in the real ones, but that is the best-case scenario. Incorrect doses, improper storage, and wrong ingredients can be even riskier than no treatment at all. Worrying amounts of fake Xanax (for severe anxiety) and Oxycodone pills (for serious pain) containing high doses of Fentanyl (a drug that can be 50 times stronger than Heroin and 100 times more potent than morphine) have caused deadly overdoses on unknowing victims. Counterfeiters switch the real pills with the fake ones and then sell the fake ones on the black market.Large gaps in the pharmaceutical supply chains make it difficult for regulatory authorities to be fully effective. That’s where Blockchain technology can be a lifesaver.
Originally devised for the digital currency market, Blockchain technology has expanded into other markets and uses. It allows large amounts of data to be distributed without being copied.Thanks to the Blockchain, transactions are validated and authenticated through a decentralized system. Instantaneous data transmission enables real-time information on each step of the process the process for both sellers and buyers. A Blockchain-based tracking system could secure the drug supply chain and enhance the products’ traceability. Any cargo going missing would be instantly notified and the system would show the last person who handled it.With Blockchain technology, any abnormality in the supply chain process would be traceable, reducing the opportunity for tampering and ensuring the patients’ health.
NeuroChain, let’s build a better world!
Photo credits: PexelsFollow us on Telegram, Facebook, Twitter and YouTube. If you have any questions, feel free to get in touch with NeuroChain Team, and we will answer you as soon as possible!