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
Brian Armstrong Speculates the Death of Quadriga's CEO Was Used as Cover for Mismanagement
Brian Armstrong, the CEO and co-founder of Coinbase, made a public statement speculating that QuadrigaCX-the exchange that lost $135 million in customer funds-may have used its CEO's death as cover for earlier mismanagement.
Andreas M. Antonopoulos Warns Against Ethereum Community In-Fighting
The author of two widely acclaimed books on cryptocurrency offered advice to developers building ethereum, the world's second-largest blockchain, this weekend, arguing they should be careful to avoid fragmenting their technical community through infighting.
FBI Seeking Potential Victims of BitConnect to Assist Investigation
If you invested in the proprietary token offered by the now-defunct crypto exchange BitConnect, the FBI wants to hear from you.
Bitcoin Remains On Hunt For $4.2K Despite Price Consolidation
View Bitcoin's low-volume price consolidation has taken the shape of a bull flag on the 4-hour chart.