TrackMedicine is a project aimed at preventing counterfeit medicines from entering the supply chain. We use blockchain technology to provide an immutable, secure, and transparent way of tracking the origin and authenticity of medicines.
- Track the origin of medicine and its components
- Securely store information on medicines and their components
- Ensure the authenticity of medicines
- Prevent counterfeit medicines from entering the supply chain
- Provide real-time updates on the status of medicines
- Increased trust in the pharmaceutical industry
- Improved patient safety
- Reduced costs associated with counterfeit medicines
- Increased transparency
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According to recent reports, fake medication is responsible for more than 200,000 deaths each year, with the "fake drug" industry generating about $30 billion a year.
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WHO said that no country is unaffected by fake or subpar medication, but the problem is prominent in developing countries, where healthcare systems are either compromised or do not exist.
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This, in turn, compromises the treatment of chronic and infectious diseases, causing disease progression.
TrackMedicine is built on the Ethereum blockchain. This provides a secure and immutable platform for tracking the origin and authenticity of medicines. We also use smart contracts to ensure accuracy and transparency of the data stored on the blockchain.
The TrackMedicine system works in three steps:
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Medicine manufacturers submit data about the medicine and its components to the blockchain.
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This data is securely stored on the blockchain and can be accessed by authorized parties.
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Indexing the medicines using a unique MedicineID.
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Using a website for supply chain distributors to add relevant details pertaining to the drugs.
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Using the website to track the manufacturing source and all the middlemen involved in the transfer.
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