The current COVID-19 pandemic has completely changed the dynamics of the world.
All industries are suffering from the complete shut down in regular business activity. The medical sector is no different, and the need for critical medical equipment like ventilators and personal protective equipment are crucial.
However, the pandemic is exposing the pharmaceutical sector’s inefficiency regarding sourcing these essential supplies. That’s where blockchain steps in and is a potential solution that can help fix the issues Healthcare supply chain faces.
What blockchain mostly does is provide medical suppliers with the ability to accurately and transparently track where every product has been. While several suppliers are popping up that are looking to give the industries the personal protective equipment they need, there are no existing ways that medical suppliers have to track and validify the material.
Given the sensitive nature of the world at this moment, the equipment must be high quality; however, with several new and unregulated suppliers popping up, that becomes an issue. There’s already a high incidence of countries reporting and confiscating counterfeit facemasks that don’t offer a sufficient amount of protection. A blockchain-based supply chain system would provide a transparent record of transactions that provide high accuracy and efficiency.
One of these companies that provide pharmaceutical companies with a blockchain framework for the supply chain is dappworks.com. The structure is easy to build and allows the company to make use of specific blockchain applications that cater to each business case. Additionally, they also provide companies with a parallel chain network that enables data sharing across the different blockchain applications easily. All of these transactions are entirely safe and ensure that there’s no interference or tampering within the supply chain. Additionally, the easy to track nature means that the companies can follow products through each point in the supply chain.
Soothy Garden Blockchain-based Product Validation System
Additionally, it allows medical suppliers like soothygarden.com to carry out their business practices during these crucial times effectively. Due to their blockchain empowered healthcare supply chain, Soothy Garden can enable their consumers to check for product validation. This will showcase consumers the timeline of the delivery and the certificate of the manufacture and will let them confirm if their product is valid. It showcases the company is in charge of the lifecycle of every single one of their products, all the way from the source to the consumers.
The blockchain application system is incredibly useful for consumers as well, as it makes the process much safer for them. With so many individuals looking to order personal protective equipment, it’s entirely likely that they’re going to get counterfeit products. However, with the use of the product validation feature, consumers can easily track whatever products they offer—additionally, the WHO is wholly recommending that all healthcare providers incorporate blockchain into their supply chain.
While the coronavirus is a tragedy that’s affecting millions of people around the world, it isn’t going to stop the world from adapting and coming up with different solutions. In this current pandemic, healthcare providers must employ blockchain actions in their supply chain.