Prescription drugs are the biggest counterfeit market in the world. It is estimated that around a million patients die every year from toxic counterfeit pharmaceuticals, and the WHO estimates that 1 in 10 medical products in low- and middle-income countries is substandard or falsified. Addressing this problem is an international priority.
One way of doing so is to use automated programs, integrated with DLT systems (Smart Contracts), to eliminate the need for unnecessary or unreliable middlemen. However, the issue of how to build such a solution is non-trivial. Global pharmaceutical supply chains are complex, and usually involve multiple (and non-interoperable) DLTs and networks, so the development and implementation of effective decentralised tracing solutions is time consuming and costly. Furthermore, as DLT technology is rapidly evolving, any such solution will require frequent, and expensive, upgrades. While an agreement to invest in, and use, the same technology has worked on some occasions, in some sectors, it is no guarantee.
Despite these obstacles, however, there is a way forward: Overledger OS. By providing interoperability between blockchains, as well as existing systems, Overledger solves these problems at a stroke.
By allowing easy access to disparate and multiple DLTs, Overledger OS facilitates fast, simple and secure interconnection of different supply chains, with all the benefits such flexibility brings. The result is more traceable, transparent and trustowrthy supply chains which are not merely less prone to corruption, but more cost-efficient, too.
