FARMATRUST: USING AI AND BLOCKCHAIN TECHNOLOGY TO PREVENT COUNTERFEIT DRUG DISTRIBUTION
The circulation of counterfeit drugs is a recurring challenge both to the Pharmaceutical industry who produce and distribute medicines and the patients who purchase them for treatment. All over the world there are recorded cases of the distribution and consumption of counterfeit drugs that has resulted in the death of patients who are completely ignorant of the quality of the drugs taken.
The need to find measures to prevent counterfeit drug distribution is crucial to reduce the risk of death caused by fake or sub-standard drugs in most countries all over the world. A large percentage of counterfeit drugs distributed are products of unregistered illegal drug Merchants. These Illegal drug retailers exist as a result of discrepancies in the pharmaceutical supply chain. With no real means of tracing the movement of medications from the Manufacturer to the Distributors and then the consumers, counterfeit drugs are bound to slip through the regulatory drug measures put in place by the government in different countries. The traditional pharmaceutical industry supply chain does not assure visibility in the process of drug distribution as a result of the process of exchange of medicines that occurs before the drugs get to the consumer/patient. The absence of clear-cut means of tracking the drugs and whose hands they enter provides room for counterfeit drugs production and circulation. Instances of drug retailers duplicating manufactured drugs thereby creating fake drugs for extra money at the risk of endangering lives and challenging the prevention of counterfeit drugs distribution.
FarmaTrust provides a solution for preventing the distribution of counterfeit drugs through the use of Artificial Intelligence and Blockchain technology in an Ethereum based system. This solution would involve drugs being packaged and entered into the blockchain system via the smart contract. Only the designated receiver of the drugs packet would be able to access the drugs in the supply chain system. The user interface in the blockchain system will provide effective communication among those involved in the distribution of the drugs through the need for authorizing and accepting packets by parties involved. The Blockchain technology is an online platform that can efficiently keep records of legitimately produced drugs which would develop artificial intelligence capabilities that is useful in analyzing data, increasing efficiencies, automatic re-routing of pharmaceutical supplies, automatic generation of regulation reports, and electronic audit requirements.
The Artificial Intelligence and Blockchain technology solution offered by FarmaTrust was developed as a result of all the research conducted on the needs of the Pharmaceutical Industry to eradicate inefficiency. The study revealed the need for an efficient system which works with legacy hardware and software, a future-proof system, a robust global platform, and a system which complies with the differing international regulatory regime and provides security to patients. The benefits of the AI and Blockchain technology will provide a holistic supply chain system for drugs and proper security measures that will curb the risks of counterfeit drugs in circulation and also increase the purchase of safe drugs.
The prevention of counterfeit drugs distribution will play a significant role in reducing the growing number of deaths arising from the use of fake drugs and ultimately create a healthier and safer world in general.