FARMATRUST: THE NEXT GENERATION

reallinks (30)in #cryptocurrency • 8 years ago

Before you can understand the magnitude of this issue plaguing the global supply chain, it’s important to understand what a counterfeit drug even is. Counterfeit drugs are drugs that contain none or very small amounts of the active ingredient it is supposed to contain. They may contain a completely different medication, no medication at all, or may not be able to be absorbed by the body. Worse still, there are increasing numbers of cases where toxic and harmful fillers and substitutes are being used to cut corners. To be clear, this is not the result of defects, but rather the result of malicious manufacturers deliberately skirting regulations and operating outside the law in order to increase their profits. Musing over these problems as a curious investor, led me to discovering a platform that is geared towards addressing this worldwide challenge at Farmatrust project.

WHAT IS FARMA TRUST?

FarmaTrust is a web-based, peer to peer platform designed to keep an immutable record of every legitimate drug ever produced, using Blockchain technology and an Artificial Intelligence (AI) enabled code (Zoi). Its aim is to effectively prevent counterfeit drugs from getting into the supply chain, thereby, largely preventing death and suffering of patients anywhere in the world. Recent inventions such as tamper-proof and/or holographic labels and unique serial numbers are not sufficiently effective. The brain behind FarmaTrust is to track pharmaceuticals through a supply chain that links digital systems to pharmaceuticals moving in the physical world. A network of pharmaceutical brands, contract manufacturers and suppliers, logistics and shipping companies, wholesalers, distributors, pharmacies and hospitals will be created by the FarmaTrust platform which will then become a trusted system to ensure that medicines and other related products are genuine. In the final step of the process, the consumer is allowed to use the FarmaTrust mobile app with a QR code scanner to verify the authenticity of the product.

MISSION/VISION

Well simply that they propose to attack and solve a real problem and that affects us all. They will offer a useful service for the development of our society. They bring value They solve a problem. The manufacture and distribution of fake drugs increases the mortality and morbidity of people with diseases and any project that wants to solve this problem deserves everyone's attention.

Blockchain Technology

The technology behind Bitcoin, referred to as Blockchain, was established as a large cross-business transaction ledger without the need for control by any single entity. This "distributed ledger" ultimately reduces and in some cases avoids the need for complex and costly relationships and system integration necessary to provide the integrity and trustworthiness of transactions across business entities that traditionally require third party intermediaries.

This is a common ledger that does not change between all parties in the business network. Inability to prevent disputes in transactions and be achieved through cryptography. "Smart Contract" allows two or more parties to sign an unchanging contract that can be automatically fulfilled. Details of smart contracts regarding asset exchange requirements (including but not limited to costs). The enduring nature of the contract prevents rejection of the agreement later (as does the paper) This is a common ledger that does not change between all parties in the business network.The inability to prevent disputes in transactions and is achieved through cryptography.
Contract "allows two or more parties to sign an unchanged contract that can be automatically fulfilled. Details of smart contracts regarding asset exchange requirements (including but not limited to costs). The enduring nature of the contract prevents rejection of the agreement later (just like the paper contract signed by the lawyer and witnessed, stamped, etc.).

Blockchains are hard to hack, their data is cryptographically safe so the costs associated with brute force attacks are so excessive that such attacks are totally useless. They also keep data against losses because they are distributed and continue to maintain their integrity. Access and change can also be monitored and stored continuously so that changes made to Blockchain can be traced forever in Blockchain itself. We believe Blockchain will do it have a major impact on the pharmaceutical industry, including:

Access: Blockchain is an open network whereby anyone can add blocks or review the entire blockchain from the beginning of the Genesis block to its destination.
Trust: Individuals and pharmaceutical companies alike can trust each to transfer valuable information such as serial numbers knowing that Blockchain stores cryptographic cryptographic information.
Redundancy: Blockchain is like a big book where information is replicated across servers around the world, so there's no single point of failure.
Anonymity: Persons and companies may exchange information anonymously.
Real Time Capability: Blocks can be fixed and added to Blockchain in the near future.
Security: Strong cryptographic algorithms keep information secure. Blockchain is an open network where anyone can add blocks or review the entire blockchain from the beginning of the Genesis block to its destination.
Decentralization: With no blockchain central authority managing data; everyone keeps a copy of his information.

Adopting the FarmaTrust platform promises a lot of benefits which include saving lives, infrastructure infallibility, immutability of records, potential for personalized medicine, increase in efficiencies with artificial intelligence in the supply chain, data lead, ease of use- SMS/Voice Verification.

ICO AND TOKENSALE

An Initial Coin Offering (ICO) is being issued out by FarmaTrust to the public in order to give room for interested investors to invest in the funding of FarmaTrust operations and development, and get returns. FarmaTrust will issue holder tokens with the symbol FTC. The FTC tokens are based on Ethereum ERC 223 token standard. The Token Distribution Event (TDE) of FTC tokens along with the accompanying token creation is organized around smart contracts running on Ethereum. (token distribution diagram).

Investors interested in supporting the development of FarmaTrust can do so by sending Ether to the designated address. As soon as the entire TDE, which will follow a private pre-sale is completed successfully, tokens will become transferable. The main Toke Distribution Event will be completed by march/April 2018 or as otherwise scheduled by the management of FarmaTrust. To guarantee the most efficient distribution of tokens, FarmaTrust will be offering FTC tokens in two phases.

Pre-sale: Pre-sale opens on the 15th of December, 2017 and will close as soon as all offered tokens are sold or on a date before the TDE as will be announced by FarmaTrust. At the pre-sale, a limited amount of token of 66,666,667FTC will be offered at a token price set at ETH0.00006522 per token, which is about a 40% discount on the price that is set for the main TDE. The minimum contribution level is set at ETH 25. Participants interested in the pre-sale must e-mail their name, address and ETH amount to [email protected].

Main TDE: The main TDE will commence in the first week of March, 2018. The price of the token during the main TDE is set at ETH 0.00010870 per token. Participants will have to enter their details on a whitelist. The whitelist application and submission processes will run from 15th January, 2018 to 23rd February, 2018. Obtain more information on the main TDE in the ‘White Paper’. Don’t hesitate to take hold of this wonderful opportunity!

For more information visit the links below

Website: https://www.farmatrust.com

Whitepaper: https://www.farmatrust.com/wp-content/uploads/2017/12/FarmaTrust-WP041217_v1.23.pdf

Author: https://bitcointalk.org/index.php?action=profile;u=1082634