Multinational software company, SAP reveals to the public the major project they’re currently doing, which utilizes the distributed ledger technology, as reported by The Next Web.
According to the official release of the World Health Organization (WHO) in 2017, around 10% of medical products circulating in low and middle income countries were either fake or substandard.
In the US alone, drug wholesalers see around $7 billion worth of returned drugs, which usually being resold by to the public, regardless of their “conditions”.
With a new regulation from the US Drug Supply Chain Security Act (DSCSA), all wholesalers are now obliged to verify returned prescription drugs prior to resale.
This is where SAP’s new software has major role as it allows wholesalers to authenticate the drugs returned by pharmacies and hospitals using the blockchain-backed supply chain tracking system.
Another fact worth mentioning is the software was developed in cooperation with major pharmaceutical companies, such as Boehringer Ingelheim, GlaxoSmithKline and Merck Sharp & Dohme.
Looking at the above case, it’s not too much to say that blockchain not only can improve people’s lives, it can actually save people’s lives.