Counterfeit product is a very big problem that has found its way into the pharmaceutical supply chain and its growing so rapidly by the day sponsored by enemies of humanity. Distributors of counterfeit drugs have their strongholds in low and middle income countries. They scarcely distribute them in industrialised nations as the manual supply chain is closely monitored. They only gain access in these countries through the internet.
The world health organization estimates that counterfeit account for between 15%-30% overall in the supply chain is developing countries while in the developed countries the figure is still around 1% in the legitimate supply chain. Counterfeit drugs accounts for over a million deaths around the world annually and also the spread of thousands of avoidable sicknesses and diseases. This includes illegal copycats of brands and plain spurious with no clinical efficacy. The dangers of counterfeit drugs cannot be over emphasized as these drugs may:
contain toxic ingredients
have not been transported and stored properly
have been completely repackaged
have been produced under conditions that do not conform with current good manufacturing practice.
contain a different quantity of the original active ingredients.
contain totally different active ingredients.
An outbreak of malaria occurred in my community and up to 1800 people lost their lives due to intake of an expired malaria drug. It took almost six months before it could be traced to that particular drug and totally removed from the supply chain in the country. Finding ways to end this dangerous and wicked acts to humanity is a very serious business. Until recently there are no concrete plans in the pharmaceutical supply chain especially in developing countries to eradicate this problem. Government institutions have been working to regulate supply of drugs in their territories but it seems their efforts is not yielding the expected results. With the help of block chain technology the solution is finally here FarmaTrust
What is Farmatrust
FarmaTrust is a platform built on block chain technology to track the pharmaceutical chain supply. The project is an innovative and timely one which began in may 2016. FarmaTrust platform is to use the decentralized block chain system to track products journey through the supply chain and also provide a platform for individual products to be verified and traced end to end from the manufacturer to the end user. It provides a platform for real time tracking of product ownership, product authentication, inventory monitoring and surveillance.
Source: Factor daily
As said earlier many countries have drugs regulatory bodies that monitor the pharmaceutical supply chain within their territories. FarmaTrust now provides these government regulators a more sophisticated approach in tracking the supply chain of drugs within their territories ensuring that the pharmaceutical distribution companies only circulate quality products and also track any form of adulteration in the supply chain.
FarmaTrust tends to achieve this by providing a platform on a decentralized network for effective global data verification and recording of all activities across the supply chain; from the point of manufacture to the end consumer.
The FarmaTrust complaint token (cp) tracking token is a great innovation which would change the pharmaceutical supply chain dramatically as it is designed to track genuine products that have been packed with special product packet tracking. Its such an amazing innovation as its get burnt once the product is been used.
The Benefits Of Blockchain Technology And The Impart Of FarmaTrust On The Pharmaceutical Supply Chain
FarmaTrust will issue FTT tokens to the general public and pharmaceutical companies which can be tradable on exchanges. These token can be staked to receive ZOI tokens which is the lifewire of the ZOI ecosystem. It is used to process transactions, make payments and allow access to products information generated on the ZOI platform. The FTT tokens can also be staked by paring them with batches of serialized product keys digitally on the ZOI platform.
Each unique product key is tokenised with one compliant tracking token. This technology would greatly impart on the drug supply chain positively as each unique packet of drugs can be tracked from the point of manufacturing to the final consumer.
This technology is second to none and would save millions of lives around the world and prevent thousands of deadly diseases in our societies. The block chain technology would totally revolutionise the pharmaceutical industry. The impart would be felt by the pharmaceutical companies as it would be almost impossible to adulterate their products and distribute them in the supply chain. The end users would only get standard quality products. This would drastically reduce the number of deaths by counterfeit drugs once it is fully launched and developing countries adopts this system to monitor and control drug supply in their territories.
For further information about token sales and FarmaTrust project please visit the FarmaTrust Website. Also read the whitepaper to learn more about the project. If you have questions and enquiries please do well to join the telegram group and also follow FarmaTrust on Twitterand instagram. The team would be glad to receive you and attend to your questions and enquiries.
This is my entry to the farmatrust sponsored original works contest which you can also join here
Farma2018