The best blockchain bases pharmaceutical products supply chain

mychidera-eu (49)in #blockchain • 6 years ago (edited)

Many lives have been lost and many drugs have been manipulated and given to patients who take this drugs but their illness was not cured because they took counterfeited medications

The number is people who have lost their life to fake drugs has risen to millions and still counting.

This can not continue. There need to be a check and monitor of original medicine movement from the manufacturer to the consumer. The platform need to be open for ask to see. Both the manufacturer and the consumer.

This platform also need to cut the extra cost been incurred to drugs through the middle man who adds his gain to the original price of drug bought and leave the consumers (who in most cases do not have enough money to take care of themselves not to talk of buying very expensive medicine) to bear all the cost.

https://www.farmatrust.io/TiruD2g9_mc

This is why FarmaTrust have come with a solution. FarmaTrust is a blockchain based solution to all pharmaceutical supply chains. To ensure that the contents of a pharmaceutical product is as stated, FarmaTrust integrate with software already in place to make sure that companies can easily use the technology in their workflow
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Source

THE PROBLEM

Because drugs are very essential and important to not just humans but animals and plats as it is used to treat it cure their illnesses, the demand is always high and the pharmaceutical industry is a very huge money industry, it becomes an avenue for fraudsters who aim to take this advantage.

The activities of these fraudster has resulted in the death of over one million people and had also made the price of drugs so high that the common man in the society finds it difficult to go to hospital and seek for medical attention.

HOW FARMATRUST IS GOING TO PROVIDE THE SOLUTION USING BLOCKCHAIN TECHNOLOGY

Because the problem and it's consequences are caused by an improper or easily manipulated and inefficient supply chain, FarmaTrust uses blockchain to cleverly track drugs from its manufacturing facility to the hands of the consumer thereby helping the consume too be able to check the source and authentic of the drug. The blockchain technology also minimizes the cost incurred to the drugs by the fraudulent people who ads more money to the price the drug was originally sold for
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HOW IS FARMATRUST GOING TO ACHIEVED THIS?

To effectively track and monitor the movement of these drugs, a tool which have the following qualities is needed

Not dependent on one centralized body.
Immutable ledger
Ability to scale
Transparent
Very secure

There have not been any solution with such qualities

FarmaTrust found all these in the blockchain technology and that's why it's adopting it. With blockchain, FarmaTrust can turn around all the challenges/problems of pharmaceutical industries to turn them into cost effective, efficient and transparent safe method of supplying drugs to it's consumers.

A USE CASE

Gal pharmaceuticals is a pharmaceutical company producing a very good antibiotic their
Over the years, Gal pharmaceuticals have been experiencing poor sales but because there products and expensive and the consumers could not afford it. The high cost of the drugs is due to the extra administrative cost incurred by the supply chain adopted by Gal pharmaceuticals.

On hearing about FarmaTrust, Gal pharmaceuticals adopted the supply chain and within weeks, there have been demands for there products and many are been treated with there medicine and only the original is given too.

FTT & ZOI Tokens

FarmaTrust works on FTT and ZOI tokens. FTT tokens can be staked to receive ZOI tokens. The ZOI tokens are then used on the FarmaTrust Zoi platform. The ZOI tokens are an internal currency to be used and traded only on the Zoi platform. They are for use of FarmaTrust services. The FTT tokens on other hand are exchangeable. The ZOI tokens are used to create Compilance Tracking tokens which are used for tracking serialized product keys of products.
Source: 260 STEEM + 40 Bonuses ~ Sponsored Writing Contest: FarmaTrust