Blockchain Adoption in the Pharmaceutical Supply Chain

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“A report by the World Health Organisation ( WHO) states that about 100,000 people lose their lives every year due to counterfeit medicine in Africa alone. The report also estimates that 10% of medicine worldwide is counterfeit and rises to 30% in emerging regions.

The European Union Intellectual Property Office (EUIPO) estimates the loss of €10.2B annually and loss of 90,000 direct and indirect jobs to manufacturers as a result of counterfeit medicine.

The adoption of Blockchain into the pharmaceutical industry would enable serialization, tracking and tracing products, also, mitigating the risk of loss or counterfeiting of pharmaceutical products.”

An excerpt from TokenAsia