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Reclaiming Medication on the Blockchain

This paper investigates the use of blockchain technology to address the issue of pharmaceutical waste and distribution inefficiency, specifically focusing on th

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Abstract

This paper investigates the use of blockchain technology to address the issue of pharmaceutical waste and distribution inefficiency, specifically focusing on the Remedichain initiative. It outlines the challenge of unused medication being discarded despite being safe and effective, and proposes a blockchain-based supply chain system to track, verify, and redistribute these medications. By creating a transparent ledger, the project ensures that returned medications can be audited for safety, provenance, and temperature control, thereby reducing waste and cost. The paper discusses how blockchain enhances the trust required for secondary pharmaceutical markets, ensuring that regulatory requirements for medication security are met. It concludes that the adoption of decentralized tracking systems in the healthcare logistics sector can provide a scalable, sustainable, and reliable method for improving access to medication while maintaining rigorous safety standards across the pharmaceutical supply chain. Publication: Blockchain Research Institute

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Key findings

  • Blockchain facilitates a secure secondary market for medication.
  • Transparency through distributed ledgers reduces pharmaceutical waste.
  • Supply chain tracking ensures compliance with safety regulations.
  • Consumer trust is bolstered by verifiable provenance of medication history.

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Citation

(n.d.). Reclaiming Medication on the Blockchain. Blockchain Research Institute. https://www.blockchainresearchinstitute.org/project/reclaiming-medication-remedichain/
Canonical knowledge ID: research:reclaiming-medication-on-the-blockchain