Shared Distributed Ledger Technology (DLT), an immutable ledger for tracking assets, recording business transactions, and ensuring transparency and trust.
Machine Learning (ML) empowers systems to automatically learn and improve from real time experience, without being explicitly programmed.
Artificial intelligence (AI), the ability of computer softwares or controlled robot to perform business tasks commonly associated with intelligent beings.
The most powerful infrastructure for decentralized applications (Dapps), which support industrial scale applications, while lowering or eliminating transaction fees.
Product recalls and returns often represent a real challenge for businesses as they need to be tracked and processed in compliant matter, based on regional regulations. The blockchain as a distributed ledger will allow instant and immutable drug verification. Wholesalers and customers can verify the authenticity by connecting to the blockchain.
Product recalls and retours frequency represent a real challenge for businesses as they need to be tracked and processed in a compliant manner based on each geographic region regulatory. In Europe for instance there is a regulatory enactment called the Falsified Medicine Directive (FMD), requiring all drugs to be serialized or barcoded by February 2019.
The Blockchain as a distributed ledger will allow instant and immutable drug verification, hence wholsalers and customers can verify the authenticity of a drug package by connecting to the blockchain. Counterfeiter copies of barcodes can be avoided.
Data sharing and security is the current top priority in most companies. Especially healthcare sector plays an important role due to the sensitive information. Businesses that ship and deliver products have a difficult time keeping track of their goods, thereby allowing counterfeiters to introduce fake drugs into the system, hence a health hazard for patients and lost revenue. Especially in such a pandemic time.
Using blockchain technology, location identification and time information could have been stored encrypted and tamper-proof easily with one scan. It is also possible to evaluate the data specifically and selectively for those partners involved in the process.
Data sharing and security is the current top-priorities in most companies especially in the healthcare sector due to its sensitive information. Businesses have difficult time tracking their products, which allows counterfeiters to introduce fake drugs into the system, a health hazard for patients and lost revenue. Using blockchain technology, location identification and time information can be stored, encrypted and tamper-proof, easily with one scan.