Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Chronicled, The LinkLab partner to develop blockchain solution for pharmaceutical industry

Chronicled, Inc., a San Francisco-based technology company, and the LinkLab, a life sciences supply chain consultancy, have launched a serialized "track and trace" pilot for the pharmaceutical industry.

Launched at a one-day event in San Francisco, the pilot aims to build an electronic, interoperable system to identify and track prescription drugs as they are distributed in the U.S. The primary objective is to help better protect consumers by improving counterfeit detection and removal of potentially dangerous medicines.

During the event, the startup gathered feedback on the launch of a blockchain-based compliance protocol for that will satisfy the Drug Supply Chain Security Act (DSCSA). According to the official release, the event marked the first phase of a pilot to develop an interoperable platform for the pharmaceutical industry. Representatives from global pharmaceutical manufacturers, wholesalers, hospitals, and leading blockchain and enterprise IT companies were in attendance.

Chronicled and the LinkLab have partnered to bring a blockchain-supported DSCSA protocol and compliance solution to market. With this solution, the companies aim to provide the pharmaceutical industry with a less expensive, less cumbersome, and more secure approach to meeting existing regulatory requirements. The project’s goal is to develop around GS1 standards and to emphasize data privacy.

“The first phase of this project is to prove that one global pharmaceutical manufacturer can comply with their DSCSA regulatory obligations and meet the 2017 and 2023 requirements,” said Susanne Somerville, co-founder of the LinkLab. She continued, “we are excited to be partnering with a major pharmaceutical player in this first phase.”

The subsequent phases will see the involvement of multiple players in the pharma supply chain, from manufacturer to pharmacy and hospitals, in order to establish a minimum viable ecosystem. In the future, these pilots may allow the industry to automate the flow of goods, finances, and documents leveraging smart contracts, the release said.

“We will be working closely with teams at leading enterprise blockchain projects over the coming months to identify the most suitable enterprise blockchain to serve as a data utility for the pharmaceutical industry,” said Samantha Radocchia, CPO and Co-founder at Chronicled.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

August 20 23:00 UTC Released

JPReuters Tankan DI

Actual

27 %

Forecast

Previous

26 %

August 20 21:00 UTC Released

KRPPI Growth MM*

Actual

0.1 %

Forecast

Previous

-0.4 %

August 21 08:30 UTC 130130m

ID7-Day Reverse Repo*

Actual

Forecast

Previous

6.278 %

August 21 08:30 UTC 130130m

IDDeposit Facility Rate*

Actual

Forecast

Previous

18.283 %

August 21 12:30 UTC 370370m

IDLending Facility Rate*

Actual

Forecast

Previous

0.9 %

August 21 12:30 UTC 370370m

DEZEW Economic Sentiment*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 370370m

USNational Activity Index*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 370370m

CAWholesale Trade MM

Actual

Forecast

-0.4 %

Previous

0.9 %

August 21 14:30 UTC 490490m

TRReuters Tankan DI

Actual

Forecast

Previous

811.8 Bln TRY

August 21 14:30 UTC 490490m

DEZEW Current Conditions*

Actual

Forecast

Previous

811.8 Bln TRY

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.