Pharmaceutical Sector: Lifesaving Business
The pharmaceutical business is most sensitive and they are deal with lifesaving drugs. But we cannot control counterfeit medicines in market. Billions dollars worth of fraudulent drugs trade are occurring every day in our market. No one can deny that fake medicines are an increasing warning to consumers and the pharma industry.
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The World Health Organization (WHO) is working with Interpol to dislodge the counterfeit and illegal medicines but they think this is difficult task to control in billions of dollars fake medicines trade.
To stop fraudulent drugs it needs digital revolution in pharmaceutical business.
Which path will we take?
Blockchain may the answer to this question.
Blockchain is a database technology that are decentralized. Importance of Blockchain technology is growing fast. Many Sector are exploring this revolutionary technology for their business. Financial Services industry are already exploring the possibilities of the Blockchain.
Blockchain technology is strong recommendation for Privacy of information, disintermediation and greater control over their information. It is time to adopt this technology in different business Model.
FarmaTrust: Pioneer of the revolutionary pharma business
FarmaTrust is the effectual global tracking system that provides greater control over security to the pharmaceutical companies to ensure counterfeit drugs do not enter the supply chain. This is revolutionary way because of its Blockchain based system and Artificial Intelligence to data analysis and ensure more transparent supply chain in pharmaceutical business.
What is the FarmaTrust Invention?
- FarmaTrust is developing a web-based platform to store an immutable information of every genuine drug on blockchain.
- FarmaTrust has developed an unbiased and inter-operable supply chain data automation that is flexible and modular.
- FarmaTrust capable to automate payment processes and reporting.
- FarmaTrust is able to Real time tracking of pharma product through the supply chain.
- FarmaTrust develop strong and intelligent data processes that able to Inventory monitoring and Product authentication.
Benefits of the FarmaTrust System:
- Pharmaceutical companies will track and trace their products with cost effective way and able to integrates with existing supply chain management systems.
- Concerned Authorities of Health will able to take decisions on State finances in healthcare with the help of FarmaTrust system.
- Retailers and consumers get enough Confidence in purchasing medicines.
- It will reduce risk of purchasing fake or counterfeit products.
FarmaTrust Token System:
FarmaTrust will be issuing two types of tokens-
- Holder tokens and : The holder tokens (FTT) will be based on the Ethereum ERC-20 standard.
- Utility tokens: A utility token is required each time you wish to track something through the life cycle of the blockchain.
FarmaTrust's Blockchain system seeks to to control the sale of fraudulent drugs to hospitals and market. FarmaTrust believes that they can solve this problem.
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Find out more about FarmaTrust
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