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 >

Fintech Week Chicago

April 28 21:00 UTC Released

MXFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 28 21:00 UTC Released

CNFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 30 01:00 UTC 571571m

CNNBS Non-Mfg PMI*

Actual

Forecast

Previous

55.10 %

April 30 01:00 UTC 571571m

CNNBS Manufacturing PMI*

Actual

Forecast

51.6 bln $

Previous

51.8 bln $

April 30 23:30 UTC 19211921m

AUAIG Manufacturing Index

Actual

Forecast

Previous

57.5 %

May 1 00:00 UTC 19511951m

KRExport Growth Prelim*

Actual

Forecast

15.3 %

Previous

13.6 %

May 1 00:00 UTC 19511951m

KRImport Growth Prelim*

Actual

Forecast

21.0 %

Previous

27.7 %

May 1 00:00 UTC 19511951m

KRTrade Balance Prelim*

Actual

Forecast

Previous

6.27 bln $

May 1 00:30 UTC 19811981m

USNikkei Mfg PMI

Actual

Forecast

Previous

52.8 %

May 1 00:30 UTC 19811981m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.8 bln $

Fintech Week Chicago
Close

Welcome to EconoTimes

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