Blockchain-based Drug Traceability System for Pharmaceutical Supply Chain is now patented on her name by Govt. of India.
Research is an integral part of Jaipuria culture. Faculty members here are deeply engaged in numerous research activities. One of the recent research that got its due recognition is Dr. Shivani Bali’s, research titled Blockchain-based Drug Traceability System for Pharmaceutical Supply chain which is now patented in her name by Govt. of India. In a conversation, the Professor of Business Analytics and Programme Director, PGDM (Service Management) at Jaipuria Institute of Management, Noida shares the background behind her research. Excerpts:
The consumer of any pharmaceutical drug always has a question, “Is the drug genuine or fake?” Currently, there is no technological solution available to this question. The only way to ascertain the genuineness of a drug is via lab tests, which are definitely highly accurate, but they generally take days to provide the answer. This patent provides a traceability system based on blockchain technology that will distinguish between original and falsified drugs.
A survey done by the World Health Organization (WHO) estimated that there are more than 1 million deaths yearly due to counterfeit pharmaceuticals. The World Health Organization estimates that 50% of the drugs that are sold are counterfeit and 90% of drugs purchased online are not from the country from which the website claims it to be. Falsified drugs don’t do the due treatment that the patient needs and this in many cases can lead to risky consequences. Imperative nodes of the supply chain can distinguish between original or falsified drugs as they would be able to track the pharmaceuticals to their provenance. The imperative nodes can gain transparency regarding pharmaceuticals and if it has been altered, replaced, it also helps in inventory management.
When a drug is delivered to the pharmacy, pharmacists and consumers can easily trace it down through the supply chain and also the information if the drug has not met the standard parameters at any step in the chain as they will have full access to the supply chain. They can find out whether the drug is coming from a factory that is authentic or has been planted in the middle of the supply chain. Blockchain reduces complexity, hence it becomes more feasible to track and trace drugs.
Kudos to her research, in fact, it was one of the most awaited solutions that the pharma industry and the consumers were looking for.