Utilizing Blockchain Technology to Enhance the Transparency and Traceability of Pharmaceutical Products throughout the Supply Chain

Abstract

Blockchain is one of the technologies that follow a decentralised approach. In the industry, the medical field is the most crucial. There are numerous aspects of the medical sector that are controlled digitally, including the production and distribution of medications, the storage of patient information and data, hospital records and invoices, etc. Tracking and tracing tools are now available across the supply chain, but issues with security, privacy, and transparency still exist. In this study, supply chains employ blockchain technology to promote transparency and trust. Blockchain, on the other hand, operates on decentralised and hashing concepts to establish trust, security, and anonymity. Numerous organisations, including the administration, manufacturer, hospital, client, supplier, retailer, etc., are included in the supply chain. Therefore, there is a possibility of trust issues and different points of view to bring up the most relevant subjects. In this study, the idea of smart contracts is employed, and by using blockchain, we can decrease the trust difficulties and ensure the quality of medicines.