The Commissioner of the United States Food and Drug Administration has suggested the use of blockchain for an open pilot scheme for the pharmaceuticals industry.
The pilot focuses on improving supply chains and was announced in a notice published Feb. 8.
The Pilot Project Program Under the Drug Supply Chain Security Act, which aims to ingratiate industry players with emerging innovative technologies, will accept applications through March 11.
The move is an initial step in the development of a digital supply chain platform specifically geared to tracking drugs and preventing counterfeiting, set to operate from 2023.
While not confirmed, analogues of such supply chain platforms leverage blockchain technology to improve conventional systems.
"We're invested in exploring new ways to improve traceability, in some cases using the same technologies that can enhance drug supply chain security, like the use of blockchain."
"Enhanced verification and tracing in the supply chain can translate to a more rapid response by industry and the FDA when an illegitimate product is found," the press release added.
The FDA did not mention the desired size or scope of the pilot, nor hint at which specific industry participants, if any, had already expressed interest.
As Cointelegraph reported, the provenance of pharmaceuticals is one of the areas that multiple actors have sought to overhaul using blockchain.
Worldwide, supply chains for a large number of major industries are seeing similar treatment, with some already benefitting from dedicated platforms such as IBM and Maersk's TradeLens, which launched in August 2018..
FDA Commissioner Suggests Using Blockchain for New Supply Chain Open Pilot
gepubliceerd op Feb 11, 2019
by Cointele | gepubliceerd op Coinage
Bitcoin Golden Cross forms-beginning of the bull market?
Bitcoin, the pioneer cryptocurrency, has formed its first golden cross since Oct. 27, 2015, marking a pivot point for the entire market.
Russian Opposition Leader Raises $3 Million in Bitcoin Donations
Bitcoin has become a significant funding source for one of Russia's leading political dissidents.
South Korean Hospital to Create Blockchain Medical Data Management Platform
Blockchain-powered medical data marketplace Longenesis and biotechnology company Insilico Medicine have entered into an agreement with South Korean hospital Gil Medical Center to create a blockchain-based health data management solution.
Bitcoin Up 40% in 1 Month: What's Triggering it and How Far Can it Go?
The bitcoin price has surged by a staggering 40 percent in the past 30 days.