How blockchain adds value to the pharmaceutical industry

The pandemic highlighted the urgency to adopt blockchain technology by the pharmaceutical industry to overcome challenges and address vulnerabilities.

  • Since blockchain enables secure and rapid transactions, the pharmaceutical industry is leveraging its capabilities to improve the supply chain
  • Among the top use cases of blockchain in pharmaceuticals include manufacturing supply chain, drug safety, and Inventory management
  • The technology also promises the potential for faster delivery of safe medications and meeting government requirements at the same time

Blockchain has been serving as a disruptive technology within most industries that have increasingly embraced it over the past decade. But only when the Covid-19 pandemic struck, it became clearer that the global supply chain within the pharmaceutical industry is lacking the connectivity and data exchange that can ostensibly be resolved with blockchain technology.

Continue reading: https://techhq.com/2021/02/how-blockchain-adds-value-to-the-pharmaceutical-industry/

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