Blockchain Technology for pharmaceuticals

Blockchain Technology for pharmaceuticals

Global contract packaging organisation, Tjoapack, has partnered with UK-based technology company, Veratrak, to establish the use of blockchain across the pharmaceutical industry.

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The first project, which is due to be rolled out in Q4 2018, will secure and optimize the data sharing processes involved in setting up stock keeping units (SKUs) ready for packaging from product master data to artwork. Veratrak’s new document collaboration platform uses blockchain technology to allow secure data sharing across the pharmaceutical sector. Dexter Tjoa, director corporate strategy at Tjoapack said, “Blockchain is already being explored as a solution to support track and trace programmes which follow physical goods through the supply chain. It could also have huge benefits when it comes to improving data transparency through secure audit logs that are accessible for multiple parties.” Tjoapack will be the first use  the platform and will use its pharmaceutical expertise to ensure the Veratrak system is tailored to the industry’s challenges and that the solution is tested by an experienced supply chain partner. Jason Lacombe, CEO, Veratrak said: “Efficient pharmaceutical supply chains are essential for delivering high quality and cost effective healthcare, and this is something that we are both working towards. Through this partnership, we are building the pharmaceutical supply chain of the future.”

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