FARMATRUST, a solution to the problem of counterfeit drugs

This is a contest from @originalworks. Here's a link to the original post
https://steemit.com/@originalworks/260-steem-40-bonuses-sponsored-writing-contest-farmatrust

Here's my entry:

What is a counterfeit drug?
The World Health Organization defines a “counterfeit drug” as “A medicine, which is deliberately and fraudulently mislabeled with respect to identity and/or source. Counterfeiting can apply to both branded and generic products and counterfeit products may include products with the correct ingredients or with the wrong ingredients, without active ingredients, with insufficient active ingredients or with fake packaging.” (WHO, 2006).

Effects of Counterfeit Drugs
The individual consequences of counterfeit drugs spans from worsening of consumer’s health condition or therapeutic failure to the occurrence of serious adverse effects or even death!. In addition to these health hazards, Economic detriment also occurs which includes the funds wasted by consumers due to purchase of the counterfeit drugs, loss of revenues by the drug companies, loss of taxes by the governments.

Why do Counterfeit drugs get to the Consumers?
The reason why counterfeit drugs get to the end consumers is because of the supply network. The supply network is not effective. The effects of counterfeit drugs on health is a very alarming issue. How do we avoid this? We can avoid this by ensuring that these counterfeit drugs never get to the end consumer, and the way to this is to ensure that the supply network used to supply the drugs to the end consumers is effective.

The FarmaTrust Solution
FarmaTrust is here to solve the problem. FarmaTrust is on the verge of developing a blockchain solution that does end-to-end tracking of medicinal products throughout the pharmaceutical supply chain automatically. This solution is fast and scalable, and with this solution, counterfeit drugs will never get to the consumer.

Case Scenario
FarmaTrust works with both SATAL Pharmaceutical Co. and CPE Medical Products Ltd to integrate its API clients and agents onto both company’s internal Supply Chain Management (SCM) systems. Downstream supply chain operators, logistics partners, hospitals and retail chains would also have the FarmaTrust API clients integrated into their systems.
SATAL runs on 3 product lines in one of their factories: one product line produces 1,000 packets of tablet B in 4 batches of 250 packets; the second line produces 500 packets of tablet B in 3 batches of 125 packets; the third line produces 400 packets of tablet C in 3 batches of 100 packets.
SATAL buys 50,000 FTT tokens from the Zoi platform and stores them in the company (SATAL’S) FTT wallet. 50 FTT tokens are withdrawn from the FTT wallet for each batch produced and deposited into the Compliance Tracking Token Smart Bond. Each week, a total of 500 FTT tokens are bonded.
Each batch of tablet A packets requires 250 unique Compliance Tracking tokens, corresponding to each individual serialized packet of tablet A, while tablet B requires 125 unique Compliance Tracking tokens, which correspond to each serialized packet of tablet B, while tablet C requires 100 unique Compliance Tracking tokens, which correspond to each serialized packet of tablet C.
As the tablet A, tablet B, and tablet C packets move through the supply chain, the FarmaTrust API registers, validates and confirms the details of each exchange, tracking and matching the data from the various SCM systems as the products move from one entity to the next, and are subdivided into lots, and consignments, that ultimately get delivered to the hospitals and retailers.
Compliance Tracking tokens are updated on the blockchain with a reference to the relevant event details including Batch, Lot and Consignment information. When packets are sold by the retailer or dispensed by the hospital, or returned for disposal, the corresponding Compliance Tracking tokens are burnt.
The initial bond is released once all Compliance Tracking tokens belonging to a batch are burnt.

With the FarmaTrust solution, counterfeit drugs can never find it’s way into the supply chain. As each level in the supply chain, the FarmaTrust API registers, validates and confirms it, even up to the consumer level. The consumer will do this with a FarmaTrust application.

Benefits of the Block chain solution by FarmaTrust

• The supply chain becomes effective and efficient
• Low overhead cost for the companies
• Mortality and Morbidity reduces, since counterfeit drugs don't get to the consumer
• No loss of taxes for the government

The benefit which the FarmaTrust Solution will bring to the pharmaceutical sector is much. All pharmaceutical companies should buy into their idea.

farma2018