Common Contracts

Smart Contract Using Blockchain For Safely Managing The Pharmaceutical Industry Record

January 20th, 2023

• Filed
  January 20th, 2023

Blockchain technology has facilitated rapid digital transformation across numerous industries, including the pharmaceutical business. Lack of transparency, trouble tracing medicines, distrust, and the distribution of drugs that have beyond their expiration date are just some of the issues plaguing the pharmaceutical industry. Many of these problems have already been addressed through the application of blockchain technology. Consequently, we need a system that can trace and track drug supplies at every level if we are to successfully combat the issue of counterfeiting. The supply chain process might be managed and tracked with unprecedented efficiency with the use of blockchain technology. This study presents the results of a systematic exploration of blockchain technology's potential applications in the pharmaceutical industry. We gathered it, analysed it, and validated it with a test database. According to the findings, blockchain technology has four main areas of possible use: comba