Blockchain to be used for authentication of prescription drugs for FDA

24 Jun, 2019
by Colin Hawkins
Blockchain to be used for authentication of prescription drugs for FDA

According to Supermarketnews, on June 13, Walmart has announced that they want to expand their IBM powered blockchain services, that track the supply chain of food, into developing a blockchain for identifying and tracking prescription drugs.

Walmart, along with IBM, Merck, and KPMG, have announced that they have been tasked by the FDA, to test a blockchain pilot to improve the tracking and authentication of prescription drugs. During the pilot they aim to see if the supply chain remains free from counterfeit medication.

FDA commissioner Scott Gottlieb, commented on the idea of blockchain benefiting the FDA back in February of this year:

“Using new innovations, we believe we can improve the overall security of our closed system and improve our ability to prevent the introduction of illegitimate products, better detect the introduction of illegitimate products, and enable stakeholders and the FDA to respond more rapidly when such products are found.”

Walmart, Merck, KPMG, and IBM saw this call to action and decided to partner up to come up with the blockchain pilot. The pharmaceutical company Merck, commented on why they agreed to join in on the partnership for the FDA:

“A permissioned blockchain network has the potential to create greater transparency, reduce the time needed to track and trace inventory, help determine the integrity of products (such as whether they are kept at the correct temperature), prevent and remove counterfeit drugs, and more.”

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Bitcoin to $20K FAST, but only if THIS happens! $10K CROSSROAD Subscribe to the Chepicap YouTube Channel for more videos!

Read more about: IBM Blockchain

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage