PHARMACEUTICALS (TRACK & TRACE)
Imagine for a moment that an operator checks the wrong item off a checklist, a raw ingredient is contaminated or fake medicine is switched during distribution. On top of that, billions of dollars are lost in product recalls, commodity loss, inventory replacement, removing goods from shelves, loss of sales and brand reputation.
The effects of poorly managed supply chains continue to trouble governments and businesses today. The World Health Organisation (WHO) reported in 2016 that 10.5% of all drugs sold in developing
countries are either fake or substandard and this has led to tens of thousands of deaths. The fake drugs industry is now estimated to be around $30 billion dollars. In a major review of the problem the WHO has reported that fake drugs is a growing threat
VeriDoc Global has developed a supply chain solution that leverages blockchain technology and smart contracts. Our system verifies that each step in the supply chain has registered a “digital handshake” that marks exactly when and where the goods have changed hands. This makes it clear who is liable for products every step of the way.
PROOF OF CONCEPT
You may test our proof of concept for yourself.
There needs to be an easy and simple way to check if the Pharmaceuticals you have bought are the real thing. Counterfeit drugs are a huge problem and VeriDoc Global has made it simple to tell the real thing from the fake with just a quick scan.
Compare the original document on your smart phone which is fetched directly from the issuer's server by scanning the QR code present on the Penicillin bottle.
Don’t have a QR code reader to find out? Download the VeriDoc Global QR code reader here for free:
How does the VeriDoc Global
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VeriDoc Global has developed a solution that involves embedding a QR code on an item with a unique digital hash inside the QR code. The hash holds a string of information that is then placed on the blockchain network for security, verification and most important end user validation. Using a QR code reading app, customers can scan the QR code on the item once it has been delivered to them to verify the authenticity of items.
Throughout the shipping process, the QR code can be updated with information verifying when and where the product has changed hands. Using any QR code reading app, scan the QR code on the pharmaceuticals and the app will show you the true document produced by the issuer. This allows you to compare and see if the pharmaceuticals is an original or a fake.