PharmaCrypt: blockchain for critical pharmaceutical industry to counterfeit drugs

This research analyses the impact of counterfeit drugs on the healthcare supply chain industry and evaluates the solutions currently in place to reduce the number of fake counterfeits coming to the market. The discussions are undertaken to determine what conceptions industry professionals have about applying Blockchain in the pharmaceutical industry, especially in the supply chain. The obtained feedback information is used to build requirements for a Blockchain driven tool called “PharmaCrypt”. This tool will be used to track and trace drugs as they move through the supply chain, uploading the data collected to a distributed Blockchain ledger validating the authenticity of the drug. Through a setup, we have built a tool prototype that uses the Amazon Web Services Blockchain platform to show the feasibility of implementing such technology within the industry.