Industry: Medical Prescription Manufacturing, Shipping and Logistics
Overview: Utilize Blockchain to create a trusted, immutable record for tracking shipments of highly regulated substances such as opioids.
Challenge: Tracking shipments of highly regulated products is often cumbersome with many parties involved in manual processes which opens the process up to a high potential for inaccuracy or fraud.
Solutions: Utilize a distributed ledger, on a Swirlds Hashgraph network to more accurately track shipments of highly regulated substances.
Technologies: Swirlds Hashgraph
Within the pharmaceutical supply chain, regulatory compliance can place a massive burden on all parties. Many existing supply chains utilize manual processes that can drastically increase the possibility of manual errors and the potential for fraud. Since the introduction of Blockchain and Distributed Ledger Technology, Shipping, Logistics, and Supply Chain tracking have become one of the most popular use cases.
This proof of concept we were able to demonstrate that Blockchain technology is an ideal solution for tracking and compliance. Within the Pharmaceutical Supply Chain, Blockchain can be used to create more transparency throughout the process, in addition to an immutable record to ensure safety requirements and regulations are being met and are in compliance. It was built as a demonstration for applying Swirlds Hashgraph technology to the regulated supply chain space.