cxo voice
  • Home
  • News
  • View Points
  • Leaders Talk
  • Cyber Security
  • AI
  • Blockchain
No Result
View All Result
  • Home
  • News
  • View Points
  • Leaders Talk
  • Cyber Security
  • AI
  • Blockchain
No Result
View All Result
Leaders Interview, IT and Technology News India | CXO VOICE
No Result
View All Result

Home » Blockchain » India Using Blockchain and IoT Software to Fight the Problem of Counterfeit Drugs

India Using Blockchain and IoT Software to Fight the Problem of Counterfeit Drugs

Deepa Sharma by Deepa Sharma
September 28, 2018
Reading Time: 2min read
blockchain and IoT software Pharma
Share on FacebookShare on TwitterShare on LinkedinShare via E-Mail

In order to fight the growing problem of counterfeit drugs, India, NITI Aayog, Government of India’s premier policy institute, has teamed with global cloud leader Oracle, India’s premier super specialty hospital Apollo Hospitals, and global pharmaceutical manufacturer Strides Pharma Sciences, to pilot a real drug supply chain using blockchain decentralized ledger and IoT software.

Oracle’s blockchain software permanently registers a drug’s record in the manufacturer’s drug supply chain (serial number, labelling, scanning), leaving no scope for record tampering. From here on, at every point of hand change, it records the drug’s movement – from manufacturer to logistics, from stockist to hospital, or from pharmacy to consumer. In case of a fake drug, the software will detect irregularity and notify the concerned nodal point. Additionally, Oracle IoT provides functionality to track critical information such as chemical ingredients of the drug or maintenance of temperature control in case of life saving drugs or vaccines.

The Indian pharmaceutical industry is the third largest in the world in volume, accounting for 10 percent of the world’s production. A recent report by World Health Organization estimates 20 percent of all drugs sold in India are fake. Also, as the largest producer of generic drugs in the world, India is reported to be the source of 35 percent of all counterfeit drugs sold worldwide.

Together, NITI Aayog, Oracle, Apollo Hospitals and Strides Pharma aim to bring transparency, accountability and efficiency in tracing and tracking drugs manufactured in India.

The major advantages of blockchain software will be its ability to allow the sharing of information across the supply chain securely recording every exchange of information, and the tamper-proof nature of records of drug movement, which would ensure there is no dispute if an offender is identified.

Amitabh Kant, CEO, NITI Aayog, says “The problem of fake and counterfeit drugs is a major issue, costing the Indian pharma industry billions. At the same time, it’s putting patients at higher risk. This agreement with Oracle and our partnership with Apollo Hospitals and Strides Pharma, will help ensure all Indian drug manufacturers and healthcare experts have access to a standards-based, modern technology platform – blockchain and IoT, to help eliminate fake drug distribution.”

Shailender Kumar, Regional Managing Director, Oracle India, says, “With blockchain, every movement of the drug through its supply chain is recorded – that way, the drug supply chain is completely transparent, secure, decentralized and verifiable. We believe blockchain and IoT can play a significant role in ceasing fake drug distribution and we are all geared to work with NITI Aayog in this major program.”

Tags: blockchainIoT SoftwareNITI Aayog
Deepa Sharma

Deepa Sharma

Senior Writer and Editor at CXO VOICE, She covers technology, cybersecurity, and financial and other tech news and updates. She can be reached at "[email protected]"

Related Posts

AI, Blockchain and IOT Together To Bring Real Value to Organizations
AI

AI, Blockchain and IOT Together To Bring Real Value to Organizations

October 1, 2020
blockchain advancing and transformin procurement functions
Blockchain

Blockchain Technology Advancing Procurement Functions

January 27, 2020
Technology trends in banking sector
Banking

Top 5 Technology Trends in Banking Sector to Look Out For

January 14, 2020
Blockchain in Finance and banking industry set to disrupt
Banking

4 Ways Blockchain is Set to Disrupt the Finance Industry in 2020

November 7, 2019
Mindtree Hyperledger Blockchain
Blockchain

Mindtree Joins Hyperledger to Accelerate Blockchain Development

August 1, 2019
blockchain summit by trescon
Blockchain

Maharashtra Government officially endorses World Blockchain Summit

June 19, 2019
blockchain technology projects mistakes to avoide
Blockchain

Seven Common Mistakes to Avoid in Enterprise Blockchain Projects

June 12, 2019
supply chain technology trends
Blockchain

Top 8 Supply Chain Technology Trends for 2019 by Gartner

April 24, 2019
Load More
Next Post
H Lawrence Culp Jr

H Lawrence Culp Jr. Named Chairman and Chief Executive Officer of GE

ADVERTISEMENT

Expert Views

Key Fintech Trends to look out for in 2021
Finance

Key Fintech Trends to look out for in 2021

January 8, 2021
Banking cybersecurity
Cyber Security

Why Banks and NBFCs must exercise extra cybersecurity measures during festival times?

December 11, 2020
impact of Covid-19 on retirement planning
Insurance

The impact of Covid-19 on retirement planning

December 1, 2020
Cyber Security Awareness
Cyber Security

Five Ways To Enhance Cyber Security Awareness

November 18, 2020
Low Code: Transforming Banking, Today and Tomorrow
Banking

Low Code: Transforming Banking, Today and Tomorrow

November 9, 2020

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Inerviews

Enterprises, and MSMEs IoT
Leaders Talk

IoT is now seen as an essential enabler for the enterprises to be future ready : Joyjeet Bose

-
Security While Working Remotely interview with Filip Coftas
Cyber Security

Security While Working Remotely [Interview]

-
Akita Security Device Help you Protect your Security During COVID-19 [Interview with Zakir Hussain]
COVID-19

Can Akita Security Device Help you Protect your Security During COVID-19 [Interview]

-
digital transformation and customer experience Newgen software
Interview

Digital Transformation Journey helps Newgen Software Improve Customer Experience [Interview]

-

Entrepreneur

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

Significance Of Ethical Entrepreneurship In The Post COVID-19 Economy

Five tips for entrepreneurs to tide over the coronavirus crisis

CXO VOICE is a premier resource for the enterprises, SMBs and Startups CXOs and business leaders, It enables CXOs and business executives gain access key insights, experts views, analysis, business strategy, and leaders interviews on what’s happening in the market and its impact.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

[email protected]

Newsletter

Subscribe to our mailing list to receives newsletter direct to your inbox!

  • Home
  • About
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

© 2018 CXO VOICE

No Result
View All Result
  • Home
  • News
  • View Points
  • Leaders Talk
  • Cyber Security
  • AI
  • Blockchain

© 2018 CXO VOICE