The international counterfeit drug market amasses estimated to be $200B a year. Blockchain based technology can help track the product from origin, movement of items across a supply chain, and verify the authenticity and provenance of the drugs.
As per World Bank , there are an estimated 1.5 billion people who do not have an official, government issued and recognized document as proof of their legal identity. Blockchain based identity solutions may offer cost effective, scalable digital identity compared legacy systems.
Immutable Data Records
Use a Blockchain to create a single, tamper-proof, auditable, sharable database that can prove existence of documents, verify their use in document-dependent processes, and synchronize data among all stakeholders (e.g. title records, EMR)
Audit & Compliance
Use a transparent, immutable record of data and transactions stored via a Blockchain to simplify record auditing and compliance needs.
Use smart-contract enabled Blockchains to automate and reduce costs of processes that depend upon business logic ordinarily conducted by third parties involving silo-ed data.
Proof of Ownership
Represent physical assets and their ownership as tokens on a Blockchain, making them cryptographically secure and ownership easily provable.
An identifier on the product is verified against identities registered in the Blockchain. Certifications and other unique product details also notarized in the Blockchain.