In order to fight the growing problem of counterfeit drugs in India, NITI Aayog and Oracle signed a Statement of Intent (SoI) to pilot a real drug supply-chain using blockchain distributed ledger and Internet of Things (IoT) software. Apollo Hospitals and Strides Pharma Sciences will partner in this effort.
This agreement with Oracle and NITI Aayog’s partnership with Apollo Hospitals and Strides Pharma, will help ensure that Indian drug manufacturers and healthcare experts have access to a standards-based, modern technology platform – blockchain and IoT, to help eliminate fake drug distribution.
About Blockchain technology in drug supply-chain:
Blockchain technology helps to permanently register a drug’s record in the manufacturer’s drug supply chain (serial number, labelling, scanning), leaving no scope for record tampering.