A
blockchain is a time-stamped series of immutable record of data that is managed
by a cluster of computers not owned by any single entity (this means it is
‘decentralized’). Each of these blocks of data (a ‘block’) are secured and bound
to each other using cryptographic principles (the ‘chain’). This makes the
blockchain an incorruptible digital ledger of transactions that can be
programmed to record anything of value, such as time, temperature, vibration,
costs and so on.
Blockchain
in the full-blown sense has yet to be accepted by pharmaceutical regulators; however, the U.S. FDA agreed in
20198 to a pilot study. This blog posts looks at what blockchain is and how it
might work in the context of pharmaceuticals and healthcare. This post also
looks at areas where blockchain can be directed and what advantages it can
deliver to pharma. Of these different applications, avoiding the falsification
of medicines is probably the most important.
Tim
Sandle has written a new article for the IVT Network.
While
blockchain as yet to take-off fully in the pharma world, across other
industries (such as food and shipping) it is regarded as one of the most
disruptive technologies within the digital transformation paradigm, introducing
greater security and transparency to economic transactions. As soon as it
become accepted by pharmaceutical regulators, it will change the industry
permanently - passing information from A to B in a fully automated and safe
manner.
Posted by Dr. Tim Sandle, Pharmaceutical Microbiology
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