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 How To Put A Stop To Fake Drugs Through The BlockChain Technology

Blockchain technology is decentralized, reliable, anonymous, transparent, and resistant to manipulation. All these features are useful not only in the field of cryptocurrencies and banking but are suitable for many purposes - including the fight against Covid-19.

But while definitely useful, such a platform is not the only avenue to implement blockchain in the ongoing pandemic. Technology can help us handle and control the pandemic in several ways. To mitigate the health risks posed by global trade, blockchain technology can combat fake pharmaceuticals.

A Surge In Fake Pharmaceuticals

Never before have numerous scientists worldwide gathered so quickly to study vaccines for a virus that has threatened almost eight billion people. Meanwhile, the impacts of the crisis have become evident elsewhere, especially regarding available medicines for other diseases.

It will not stop here; the need for a future cure for the Coronavirus will be huge. Inevitably, supply will lag. Once available for mass production, Covid-19 vaccines will become the medicine of the year and the fake medicine of the year.

The biggest gateway to the market for counterfeit medicines is through the internet, as the order for online pharmaceuticals, including prescription medicines, is becoming more popular. But not all suppliers can be trusted. Criminals lure their unsuspecting victims with seemingly enticing prices and products. During a global pandemic, such activities are hazardous and life-threatening.

How Blockchain Can Stop Fake Drup Peddlers

Pharmaceutical organizations monitor their vendors, verify the supply chain's authenticity and quality, and ensure high-quality control. However, it is difficult to guarantee full protection against counterfeit activities.

Currently, blockchain technology can provide complete protection against fake drugs. Its merit lies in an inbuilt feature, which allows information to no longer be saved centrally. Rather, that data can be stored on a distributed network nodes in a decentralized model.

Each entry is separately encrypted. All nodes must check any system changes, making blockchain systems almost impossible to hack, as the data cannot be manipulated afterward. Therefore, blockchain technology makes it easier to detect identify weak links and fraud. As a result, companies can achieve full transparency on their supply chain.

The technology paves the way for each customer to verify the authenticity of the medicines they have purchased - by scanning a QR code on the package, for example, through an application. This makes it easy for every buyer to see if their product is authentic or fake. Hence, blockchain solutions improve not only trademark protection but also product and patient safety.

Key Takeaway

Ensuring the authenticity of products at the highest level is achievable only by using blockchain technology. Meanwhile, it serves as an effective means of deterring counterfeiters, as it is quite easy to detect exactly where counterfeits have entered a supply chain.

Blockchain is rightly capturing the attention of companies during this pandemic. After long being demeaned and associated exclusively with cryptocurrencies, it is now recognized as offering the necessary security and transparency to help save people's lives.

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