MediLedger: Building an Open Network for the Pharmaceutical Supply Chain

the regulations in the pharmaceutical industry are changing rapidly to improve drug security the drug supply chain Security Act was passed in the u.s. in 2013 and requires companies to comply with track and trace regulations the law has requirement stretching over a 10-year period to increase tracking and security features including unique identifiers on each unit sold by 2023 an electronic interoperable system will be required to pass the serial number information between trading partners and the United States are not alone regulations in EU Asia and South America have been put in place requiring tracking and authentication currently the pharmaceutical industry in the US uses a patchwork central database approach which makes large-scale interoperability nearly impossible point-to-point integrations are costly cumbersome and leaves the risk of diversion and counterfeit and the trust gap between siloed systems blockchain can solve this the pharmaceutical supply chain is now looking to leverage the blockchain through initiatives like the meta ledger project to meet track and trace regulation and more the meta ledger project has created a permissioned blockchain network for the pharmaceutical industry based on open standards of specifications it wraps a trust envelope around the supply chain and to end eliminating counterfeits from entering the system every transfer of a product is securely verified as having authenticity and provenance prior to the transfer taking place which actually eliminates the need to do verifications at all as every item in the supply chains has proper provenance or it cannot move forward some of the largest names in pharma are involved with 15 nodes being deployed if you are a service provider you can run a node plug-in and earn revenue from selling services if you are a manufacturer or wholesaler you can participate in upgrading the u.s. Pharma supply chain and driving new ROI in the supply chain part of the business join us in building the future of Pharma today

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