Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 10 pages
Data source: Published sources
Abstract
As blockchain was sweeping through several industries on a hype wave, it was fast becoming the industry buzzword, with an array of industries including financial services and energy suppliers on the lookout to benefit from this technology. While blockchain's most prominent use was in the cryptocurrency called Bitcoin, in reality, it had many more applications. Despite the probable negative connotations around blockchain as well as crypto-currencies, the prospect of such innovation to bring real benefits to healthcare was considered very high. While several likely pharma applications were already there, the drug supply chain was one aspect of the pharma landscape, which was being considered ripe for improvement. The pharma was being hoped to undergo enormous disruption from such kind of tech innovations as blockchain. In the global pharma industry, projects involved the distribution and supply of many products across several countries with frequent considerations of safety, security and data protections. Blockchains were believed to be used to track the supply chain's every stage thereby enabling manufacturers to eradicate fraudulent practices like counterfeiting. Blockchain's stress on the security was also considered important for its use in managing clinical trials. But the pharma industry was still miles away from comprehending the space for articulating a well thought out and sound model on the way blockchain could work. Could it find one by thwarting the most basic challenge concerning the trust level in the 'pharma supply chain' between manufacturers and distributors about running a 'proof-of-concept'?
Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 6 pages
Data source: Published sources
About
Abstract
As blockchain was sweeping through several industries on a hype wave, it was fast becoming the industry buzzword, with an array of industries including financial services and energy suppliers on the lookout to benefit from this technology. While blockchain's most prominent use was in the cryptocurrency called Bitcoin, in reality, it had many more applications. Despite the probable negative connotations around blockchain as well as crypto-currencies, the prospect of such innovation to bring real benefits to healthcare was considered very high. While several likely pharma applications were already there, the drug supply chain was one aspect of the pharma landscape, which was being considered ripe for improvement. The pharma was being hoped to undergo enormous disruption from such kind of tech innovations as blockchain. In the global pharma industry, projects involved the distribution and supply of many products across several countries with frequent considerations of safety, security and data protections. Blockchains were believed to be used to track the supply chain's every stage thereby enabling manufacturers to eradicate fraudulent practices like counterfeiting. Blockchain's stress on the security was also considered important for its use in managing clinical trials. But the pharma industry was still miles away from comprehending the space for articulating a well thought out and sound model on the way blockchain could work. Could it find one by thwarting the most basic challenge concerning the trust level in the 'pharma supply chain' between manufacturers and distributors about running a 'proof-of-concept'?
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Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 6 pages
Data source: Published sources