Yesterday, pharmaceutical collaborative
Mediledger went live with its blockchain based Product Verification Solution for drug returns. This solution helps pharma companies and wholesalers to comply with the Drug Supply Chain Security Act (DSCSA) regulations for November 2019, which require returned medicines to be authenticated.
The Product Verification Solution has been built to serialize drugs and track them across the entire supply chain, thereby preventing counterfeits from entering the system.
MediLedger is using blockchain to provide an immutable audit trail, which is crucially scalable to the massive US drugs industry. This removes much of the complexity of a conventional system, where many parties communicate over telephone and email to establish some sort of trust, subject to human error and delays. Instead, blockchain serves as a single source of truth.
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