“Fortune”: Large pharmaceutical companies will use block chains to track drugs

nnRush when commentary: block chain tracking role has been favored by many industries and explore. The pharmaceutical industry is not far behind, and now a number of large pharmaceutical companies jointly launched a project called MediLedger, will be in the chain chain to track the delivery of drugs to reduce the phenomenon of drug theft and counterfeit drugs, so that people buy more drugs Rest assured, so as to promote the healthy development of the entire industry. In addition, the emergence of a relevant statute will further promote the project.n
nTranslated by: Inan
The pharmaceutical industry may need to address such a long-term problem: how to prevent the theft of drugs or counterfeit drugs into the supply chain was removed to the hands of patients.n
The answer to this question is related to block-chain technology, which is a form of software running across multiple computers and creates a tamper-resistant and irrevocable transaction record.n
On Thursday, a group of companies announced the launch of the MediLedger project – creating a chain-chain tool to manage the supply chain. These companies, including the pharmaceutical giant Gene Tektronix and Pfizer, have successfully completed a pilot project to track drugs.n
If this new project can achieve the goal, pharmaceutical manufacturers, wholesalers and hospitals are able to record drug delivery on the chain. This in practice means that in every step of the distribution process, the computer network can prove the origin and authenticity of the drug shipments – making the theft of drugs and making it more difficult to make false.n
Chronicled is a San Francisco-based company that has developed a block-chain tool for MediLedger. The company’s Ryan Orr said the pharmaceutical industry is already using software to manage the supply, but these are made up of different databases. Therefore, the introduction of the block chain system is a significant development, so that each participant can control the nodes on the network, all transactions need to agree.n
Orr said:n
n”The pharmaceutical industry is made up of large, conservative companies, so there is a great deal of confidence to create such a network.”n
nPharmaceutical companies are not the only companies that use chain chains to strengthen supply chains. The diamond industry is working with a company called Everledger to verify the source of gemstones, while food sellers, including Wal-Mart, are using block chains to track pork and chicken. At the same time, Delaware passed a law to help companies put the list of shareholders and other company records on the chain.n
For the pharmaceutical industry, the potential advantage of the block chain is not just to protect the supply chain. According to Orr, the nature of the node system is based on the nature of the privilege that the company shares information with partners and customers but does not “disclose critical business information”.n
At the same time, Genentech sees the block chain as a logical extension of its work for assigning traceable numbers of drugs.n
Marc Watrous, the company’s senior vice president of managed care and customer operations, said in a statement to Fortune:n
n”Ensuring the safety of our customers is critical to us and we look forward to exploring the potential benefits of this pilot in protecting our medicines throughout the supply chain.”n
nAnother advantage of using a block chain is speed: when the goods are interrupted or the goods are lost, the data stored in the common books provides a quick way for the parties to track and determine who is the last person to process the goods.n
Orr said the MediLedger project is working to enable large companies to adopt block-chain technology and only plan to focus on business models in the future. The adoption of the Drug Supply Chain Security Act could greatly boost the project, which requires companies to take a series of steps to establish a more unified drug tracking system.n
The MediLedger project has been supported by LinkLab, a supply chain consulting organization, and has begun to develop its software using the Enterprise Edition (RTA) Quorum, which is supported by JPMorgan.n

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