The pharmaceutical industry has been growing over the last decades with statistics showing an annual growth of 3.6% and staggering $174.1 billion revenue in 2017 alone. The industry has been growing despite having problems associated with trade efficiency which has been hit hard with counterfeit products, monopolization and centralization of the industry which has seen the industry being controlled by a few large organizations and individuals.
Trade Pharma Network is a blockchain projects working towards offering solutions to this problem, the project plans to use blockchain technology features such as smart contracts and distributed ledger technology to improve the pharmaceutical industry service deliver and transparency. Trade pharma network will allow pharmaceutical and healthcare industries to trade safely using modern technological minds towards improvement of their trading processes. I have summarized below the solutions offered by Trade Pharma Network.
Trade Pharma Network Solutions.
Trade pharma will offer solutions pharmaceutical and healthcare industries towards prevention of drug counterfeiting, this will be delivered through improvement of the distribution process and allowing efficiency supply chain management through a distributed ledger network, distributed ledger network will help in the drugs management to prevent shortage of drugs in the market and offer solutions towards the supply chain management of pharmaceutical and healthcare industries products.
Trade pharma will also improve production efficient to pharmaceutical and healthcare industries operations management through a robust operations processes that is transparent and secure, the networks plans to use specialized hardware's such as sensors that will provide detailed information related to the operations management, ticket management and production management to help in the tracking and management of the pharmaceutical and healthcare industries processes.
The sensors will help the pharmaceutical and healthcare industries towards improvements of their products through improved tracking of the efficiency of their products based on a wide global decentralized environment, the sensors will work hand in hand with internet of things and blockchain technology to measure variability of the pharmaceutical and healthcare industries products and processes.
The platform will also help the pharmaceutical and healthcare industries through the decentralized payment system that will highly reduce the costs of production processes, the platform will also enable efficient matching of industry players using consensus algorithms to improve the efficiency of the donor processes.
Conclusions.
The business model as described in the projects whitepaper shows a robust and detailed simple business operation that will transform the pharmaceutical and healthcare industries, through a multiservice platform that uses the power of blockchain technology and artificial intelligence that will improve the pharmaceutical and healthcare industries processes, products matching, tracking and monitoring.
The project plans towards including sensors on pharmaceutical and healthcare industries products will also help in the prevention of counterfeiting a move that has never been tried before in a decentralized environment, this is the most problem affecting the industry and I believe if the team delivers their promise they will be able to offer solutions for the benefit of all humanity. The sensors will come in handy in this technological era where everything is connected to the internet, with the help of a decentralized network, artificial intelligent and blockchain technology trade pharma network will have a competitive advantage towards adoption of their processes in the pharmaceutical and healthcare industries.
As a blockchain supporter I'm glad when I come across the proper use of the tokenized economy towards improving the efficiency of the projects processes and trade pharma network has a reason to tokenize their ecosystem, the tokenized ecosystem will help the pharmaceutical and healthcare industries reduce processes costs, that will directly be felt by the consumer through the reduction of the industry products costs. Please take your time to check out the projects website and social links below for more information.
References
Website: https://www.tradepharma.network/
Whitepaper: https://www.tradepharma.network/whitepaper
Twitter: https://twitter.com/TradePharmaNet
Facebook: https://web.facebook.com/TradePharmaNetwork/?_rdc=1&_rdr
Telegram: https://t.me/joinchat/H1YJNhLHIyMwtUL7yA9BLg
Ann thread: https://bitcointalk.org/index.php?topic=4629864.0
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
Ether Address: 0x8E8A5B6e2ABF1Bb64759bDd4DBe788F45B1D4f54