Protocol Developed To Track Prescription Drugs On The Blockchain
Blockchain startup Chronicled has collaborated with The LinkLab, a life sciences supply chain consulting firm, to launch a serialized “track and trace” pilot for the pharmaceutical industry. The end result is a Drug Supply Chain Security Act (DSCSA) compliant blockchain that was developed around GS1 standards and emphasizes data privacy, while simultaneously providing the pharmaceutical industry with a cost effective, secure, and less burdensome approach to meeting current regulatory requirements.
According to the release, “The goal of the pilot is to build an electronic, interoperable system to identify and track prescription drugs as they are distributed in the United States, in response to requirements from US FDA to better protect consumers by improving counterfeit detection and removal of potentially dangerous medicines.”
The pilot was revealed at a one-day event in San Francisco that brought together representatives from global pharmaceutical manufacturers, wholesalers, hospitals, and key blockchain and enterprise IT companies in order to develop an interoperable platform for the growing pharmaceutical industry.
"The first phase of this project is to prove that one global pharmaceutical manufacturer can comply with their DSCSA regulatory obligations and meet the 2017 and 2023 requirements," said Susanne Somerville, co-founder of The LinkLab.
Subsequent phases will involve the establishment of a minimum viable ecosystem for major players in the pharmaceutical supply chain, such as manufacturers, pharmacies, and hospitals. However, in the future, this technology may permit the automation of distribution, finances, and documents by leveraging the use of smart contract technology.
"We will be working closely with teams at leading enterprise blockchain projects over the coming months to identify the most suitable enterprise blockchain to serve as a data utility for the pharmaceutical industry," said Samantha Radocchia, CPO and Co-founder of Chronicled.
As previously reported, Chronicled has been a pioneer in integrating the blockchain into the pharmaceutical industry. In 2016, the company unveiled its patented CryptoSeal prescription drug containers, which utilize Bluetooth and near field communication functionality to embed chips with unique identity information. The CryptoSeal technology allows for secure, interoperable digital identity protection and concurrently creates proximity-based consumer engagement opportunities that brands, retailers, and developers can capitalize upon.