FedEx Institute Partners With Pharmacy to Use Blockchain for Cancer Medicine Distribution

The FedEx Institute of Technologies has declared its partnership with pharmacy services company Great Shepherd Pharmacy to establish new blockchain-centered infrastructure to assistance cancer patients get prescription drugs, news outlet Commercial Attraction noted July 6.

The FedEx Institute of Technologies is an business that serves as a promoter of interdisciplinary investigation in rising systems that operates in tandem with the investigation infrastructure of the College of Memphis. The institutions released the Institute in February of this 12 months in purchase to make College of Memphis a centre of engineering and investigation.

Memphis-centered Great Shepherd Pharmacy reportedly acknowledged blockchain as a implies to retrieve unused prescription drugs from cancer patients and go them on to economically deprived patients who would not be equipped to frequently afford to pay for them. A protected and immutable ledger would let for a secure and private distribution of clinical facts. Great Shepherd Pharmacy’s CEO Phil Baker explained:

“In Tennessee alone, above $10 million truly worth of perfectly good prescription medication will get flushed down the toilet just about every 12 months. Blockchain is the answer for that dilemma. The REMEDI task (REclaiming Medication) will divert beneficial medication into the arms of patients who would not usually use it.”

The Institute will host an function to catch the attention of blockchain experts and fanatics to focus on Great Shepherd’s proposed initiative. The function will be held in tandem with Blockchain 901, a experienced business that aims to grow the tech workforce in the Memphis place.

In May perhaps, FedEx CEO Fred Smith explained that blockchain is “the next frontier which is likely to completely alter globally supply chains.” In February, FedEx joined the Blockchain in Transport Alliance (BiTA), a concentrate group whose customers involve rail operator BNSF, JD Logistics, and GE Transportation.

Last thirty day period, another blockchain-centered pharmaceutical task was declared by Microsoft and supply monitoring methods service provider Adents. The new technique delivers conclusion-to-conclusion traceability and visibility from the issue of origin along the entire supply chain, which will allow customers to trace one merchandise things inside a circumstance.

Leave a Reply