A Blockchain Based Model to Eliminate Drug Counterfeiting

Abstract

The drug counterfeit problem has become global and so huge that it has drawn significant attention from everyone. The fake drug industry is worth $10B per year as estimated by survey. Also estimated by WHO, about a million die per year due to fake drugs. The distribution of fake drugs is a crucial issue. One of main reasons behind drug counterfeiting is imperfect supply chain. There are many loopholes in our drug supply chain. In the present scenario of supply chain, either the information is not at all shared between the parties during the hand-off process or a little or irrelevant information is shared, which has led to counterfeiting. The counterfeit drug not only affects the health condition of patients but also results in the financial loss of genuine manufacturer. In this paper, the details of the drug counterfeit have been explained along with its impact. Also, various measures to fight the counterfeits using blockchain technology have been discussed. Using blockchain technology traceability, visibility and security can also be incorporated into the drug supply chain. This proposed system will track the drugs from its origin, the manufacturer to the end, the consumer.