The Best 4 Blockchain Pharma Use Cases: Amazing Changes

The Best 4 Blockchain Pharma Use Cases: Amazing Changes


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4 Best Blockchain Pharma Use Cases and Supply Chain!

Blockchain will change the pharma industry and will create new Blockchain pharma use cases. The pharma industry needs a much-needed supply chain system update. So the purpose of the new system is to integrate the features of blockchain technology and add traceability, and security to the drugs supply chain. It also helps to provide visibility to manufacturers and drugs regulatory authority. Blockchain is the best choice when we need data privacy and data accessibility both at the same time. Thus, every time a product changes hands, the transaction can be documented to create a permanent history of a product, from manufacture to sale. As a result, this will dramatically reduce time delays, costs, and human error that occurs in transactions today.

Content:

  1. Product Certificate of Origin
  2. Decentralized Medical File
  3. Cooperation Database
  4. Real Time Diagnoses
  5. “Blockchain Pharma Use Cases” – Conclusion

Product Certificate of Origin

When we order medicine these days, we do not know where it is. We also don’t know if anyone has changed anything. Yet only small changes to pharmaceutical products can have fatal consequences.

Once the manufacturer produces a product he will register it on the blockchain. Thus, you can track, trace and authenticate the drugs at each stage of the journey. So as the owner of the drugs changes physically, its ownership will be transferred on the blockchain network. As a result, drug manufacturers will be able to see the journey of their products at any time.

With the blockchain, we can, therefore, create a certificate of origin that maps the product exactly along the supply chain. So manufacturers and customers are able to track pharma products throughout the supply chain. Thus, companies can see if the customer got their products safely. So you will also be able to see if the manufacturer is legitimate because the product is in its original form.

Blockchain Pharma Use Cases

Decentralized Medical File

So visibility and privacy are mostly opposite to each other and to obtain one we often lose the other. Blockchain is the best technology for the trade-off that can guaranty to verify the originality of a piece of data that is made available publically. It can do that while keeping the private data of an entity secrete and without any compromise on privacy.

Thus, in a pharmaceutical supply chain system, the products will be verifiable without any information about the secret techniques. As a result, your medical record is accessible to different users on the network without knowing your private data.

Kooperation Database

Medicines have to travel a long way from the product to delivery. Mostly it is handed over to different companies. This usually leads to a long series of documents and unnecessary paperwork. At the same time, companies need to secure safety all the time.

Blockchain is one of the most secured ledger systems on the planet. So it is an immutable database and the information once stored on it, you cannot delete or modify it. Thus, only legitimate participants can push data to the blockchain. As a result, they can use blockchain to extend the security level. This enables pharmaceutical companies to use one database along the supply chain. This allows documents to be processed automatically and costs to be saved.

Real Time Diagnoses

Very few doctors know much about their patients these days. Usually, they only find out what’s wrong with them during a personal visit. This usually leads to long waiting times and frustration.

With Blockchain we can record the effect of drugs on the patient. So doctors can check your files directly on the blockchain and help you instantly. Thus, using a common database, this type of record keeping was not secure, and the patient’s privacy was at risk. But with blockchain you can now save your data without fear of losing it or having someone change it. This allows doctors to make real-time diagnoses without visiting your doctor.

Blockchain Pharma Use Cases

“Blockchain Pharma Use Cases” – Conclusion

So there are issues in the current pharma supply chain management. They can use Blockchain to add traceability and visibility to drugs supply and overcome the issue of frauds. Blockchain will help to share medical data while keeping the patient’s private data secrete. In addition, they can use solutions to implement a blockchain based supply chain for pharmaceuticals. Therefore Blockchain makes it easy for everyone to use the system.

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