Blockchain Based Drug Supply-Chain Management System

Abstract

Growing concerns about drug safety have placed greater emphasis on increasing transparency and accountability in the drug supply chain. This is due to the highly regulated nature of the drug and the potential risks associated with any issues arising in the supply chain such as contamination or counterfeiting. To improve drug safety and meet regulatory requirements, pharmaceutical companies have implemented traceability platforms based on centralized or distributed databases. Centralized platforms rely on a single database managed by a central authority, making it easier to track products through the supply chain and identify any issues. In contrast, distributed platforms consist of multiple databases connected through a network, which promotes transparency and collaboration and allows participants to maintain control over their data. Pharmaceutical companies can use non-fungible tokens (NFTs) as a way to increase traceability and accountability in their supply chain. NFTs are unique digital assets that can be used to represent physical goods or assets. Using NFT, pharmaceutical companies can create a secure and immutable record of a drug product’s journey through the supply chain, which can be easily accessed and verified by all stakeholders. The choice between these platforms depends on a company’s specific needs, but both aim to increase supply chain transparency and improve drug safety.By implementing traceability, systems based on centralized or distributed databases and potentially incorporating NFT technology, to quickly identify and isolate any affected product and prevent it from reaching patients, increasing accountability and trust in the pharmaceutical industry and ultimately improving medicine and also Security.