Updated By: LatestGKGS Desk
Blockchain Technology in Drug Supply-Chain: Details, Benefits, Highlights
Blockchain Technology in Drug Supply-Chain: Details, Benefits, Highlights
Blockchain technology will help to permanently register drug’s record in manufacturer’s drug supply chain (serial number, scanning, labeling. This will leave no scope for record tampering.
At every point of hand change of drug, it records drug’s movement from manufacturer to logistics, stockiest, hospital or pharmacy to a consumer. In case of a fake drug, the software will detect irregularity. Additionally, critical information such as chemical ingredients of drug or maintenance of temperature control in case of life-saving drugs or vaccines, can
Blockchain technology will also allow the sharing of information across drug supply chain securely with every exchange of information getting recorded. This system cannot tamper with a record of drug movement. Besides being a decentralized database, it has the inability to delete any records so there can be no dispute if an offender is caught.
Blockchain-based contracts can assist healthcare organizations in monitoring supply-demand cycles through its entire lifecycle- how is the transaction taking place, whether the contract is successful, or if there are any delays.
