Why is blockchain technology so hot? Is it "what is sacred"? When the pharmaceutical industry meets blockchain technology, what impact will it have on the industry? What kind of application will you get? With these questions, the author will conduct in-depth analysis and discussion for everyone.
What is the sacredness of blockchain technology?
Blockchain is the underlying technology of digital currency, and it has been used in many industries, such as finance and insurance. It is reported that the integration of blockchain technology can ensure the security of data and can trace its roots. So what role can blockchain technology bring in the pharmaceutical industry?
The author understands that blockchain technology can be used not only to determine the authenticity of a given drug, but also to ensure that patients follow the prescribed medications. In addition, it can help patients determine Medicare reimbursement and payment to pharmaceutical companies in value contracts. Some institutions have predicted the technology: by 2025, the commercial value of blockchain technology will be higher than $176 billion. And in the next five years, the value of blockchain technology will surge to $3.1 trillion. Many industries will undergo huge reforms, especially in the pharmaceutical industry.
Great commercial value, how can pharmaceutical companies miss it? Paul Cocuzzo, senior director of Merck, once said: "In the next work, we have a legal obligation to fulfill: we will cooperate with all trading partners on the 'drug supply chain' to jointly return the drugs to Merck. The verification will be carried out, and the returned drugs will be resold again. We are working with a blockchain company POC, and we will actively participate in the fight against counterfeit drugs while complying with the regulations."
What are the applications of blockchain technology in the pharmaceutical industry?
Gunjan Bhardwaj, founder and CEO of Inaplexus, a SaaS (software as a service) startup focused on artificial intelligence and big data analytics, says blockchain has five major applications in the pharmaceutical industry: drug safety, manufacturing supply chains, and public Safety and consumer awareness, inventory management, clinical trial management.
In terms of drug safety, blockchain technology has a strong advantage in providing a basis for the complete traceability of pharmaceuticals, from the original manufacturer to the final consumer, while blockchain technology can accurately identify a certain supply chain. The specific location of the problem to ensure the safety of the drug.
In manufacturing supply chain, blockchain technology can provide real-time data access across the entire drug supply chain, from the ingredient supplier's product code to the pharmacy's prescription for the patient. The blockchain technology can solve the key problem in manufacturing supply chain, that is, a large number of computer systems that are incompatible with each other, so that manufacturers have no visibility in terminal consumer sales.
Public safety and consumer awareness have always had major hidden dangers. The development of blockchain technology can play an important role in ensuring public safety, improving and raising consumer awareness. The author is informed that the blockchain can fill the gap in the global drug supply chain and mitigate its direct impact on the overall population. In addition, recall management will be another big issue for the blockchain to address public safety, and it will better inform the public about the entire process of important announcements.
In inventory management, if supply chain managers are unable to provide appropriate visibility, then demand-based drug inventory preparation will be a major challenge. But blockchain-based systems will enable manufacturers to effectively manage inventory levels in preparation for a surge in demand for pharmaceuticals.
Finally, clinical trial management, in this regard, blockchain technology has two outstanding potentials, one is the macromolecular supply chain; the other is to provide patients with appropriate clinical suite management practices for patient safety and patient research Provide accurate results.
YokeLink Automatic Splice Rated to hold a minimum 95% of RBS of the strand used, can ensure quick and reliable overhead tension splice with fast and easy installation. The conductor simply slips into color-coded, funnel-shaped end piece and enters the pilot cap automatically with a simple push. The pilot cap guides the conductor pass the set of serrated jaws and into the center of Automatic Splice. YokeLink Automatic Spliceare used on ACSR, AAC, AAAC,(Sparrow,Pigeon) conductor for an instant, positive and automatic connection, ANSI C119.4 Full Tension Class A connector.
YokeLink Wedge Connector and [C-Ring" are used to connect solid and stranded aluminum, aluminum alloy and stranded aluminum composite conductors including AAC, AAAC, ACSR, ACAR, AW, ACSR/AW and ACSS. They may also be used in non-corrosive environments to connector copper conductors.
Distribution Hardware,Cable Rope Clamp,Aluminum Anchoring Clamp,Aluminum Parallel Clamp
Ningbo Yokelink Machinery Co.,Limited , https://www.yokelink.com