Real World Blockchain Uses in the Pharmaceutical Industry

Blockchain technology is transforming the pharmaceutical industry by ensuring transparency and traceability, preventing counterfeit drugs, enhancing data integrity, streamlining regulatory compliance and improving patient data management. However, concerns include scalability, navigating regulatory landscapes, data privacy, and integrating with existing systems. Blockchain application examples include MedRec, VeChain and IBM’s drug supply chain application. Researchers say despite challenges, the technology’s potential in this field is promising.