A specialized blockchain network called MediLedger, designed to support the pharmaceutical sector, has released findings suggesting that blockchain could help the U.S. Food and Drug Administration (FDA) tackle drug counterfeiting more effectively.
MediLedger Network Has the Potential to Transform FDA's Pharmaceutical Tracking
According to a report According to a report endorsed by MediLedger, which is recognized as an FDA-endorsed Pilot Project, integrating blockchain technology could significantly enhance the agency's capacity to monitor and trace prescription drugs throughout the nation.
Launched in June 2019, MediLedger is part of the FDA's strategy to align with the Drug Supply Chain and Security Act (DSCSA), which aims for full implementation by 2023. The act stipulates that industry participants must trace legal ownership changes of pharmaceuticals within the supply chain.
The report indicates that the MediLedger blockchain could assist organizations in maintaining precise records of legally acquired prescription medications, thereby improving services delivered to patients. healthcare A section of the report notes:
\"The workgroup believes that, without a central data-sharing point like systems adopted by other countries, the U.S. supply chain will face hardships. Companies may struggle to share data completely across different partners, systems, and technical standards, jeopardizing the timely identification and containment of suspicious products during major public health crises, thus risking patients' safety.\"
Additionally, the report highlights that the medical field can fully comply with data privacy norms and safeguard confidential details by adopting zero-knowledge proof technology through the MediLedger blockchain. Yet, the report underscores the importance of robust engagement and adoption from all industry players for the long-term success of an interoperable pharmaceutical blockchain system.
Blockchain's Role in Source Verification and Supply Chain Management
San Francisco-based tech company Chronicled developed and manages the MediLedger blockchain network. Having secured the approval for a pilot project in 2019, the firm began working with notable entities in the pharmaceutical supply chain to examine the blockchain's capability in aiding FDA compliance with the DSCSA.
The trial project involved a consortium of 25 leading companies, including global pharmaceutical giant Pfizer, channel and contract management specialist Genentech, drug distributor AmerisourceBergen, and multinational retail powerhouse Walmart, among others.
Reflecting on the project's advancement, the CEO of Chronicled, Sussane Somerville, commented:
\"We’re delighted to see industry-wide collaboration with Chronicled in the MediLedger FDA Pilot Project. We demonstrated that blockchain solutions can viably meet the 2023 DSCSA mandates, and we're honored to contribute towards enhancing the safety of the U.S. pharmaceutical supply chain.\"
Somerville notes that the project rested on three foundational technologies: zero-knowledge for private messaging and data transmission, a blockchain ledger for collective transaction validation and smart contract operation, and a private messaging system for interaction between supply chain clients and partners.
Representatives from Genentech and Pfizer have expressed that the project reflects a strong, broad industry commitment to creating a system that helps the FDA achieve comprehensive DSCSA compliance.
Beyond pharmaceuticals, blockchain pilots are exploring technological applications in domains like Provenance and Supply Chain Management (SCM). As mentioned in earlier reports, in January 2019, Ugandan coffee firm Carico Café Connoisseur adopted blockchain to track products along its supply chain. Blockonomi In December 2018, TEMCO, an SCM platform, partnered up with bitcoin blockchain developer Rootstock, promising a supply chain solution aimed at bridging isolated systems and delivering real-time tracking information to clients.
Its collaboration with Levi Strauss & Co. and the New America think tank seeks to create a blockchain-based platform that might replace third-party factory safety and health auditors. unveiled Osato, a Bitcoin enthusiast, frequently shares insights on the newest Bitcoin developments. When not engrossed in industry news, he's either battling his high score in Scrabble or pondering deep philosophical questions. Reach out to [email protected]
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