MediLedger: Decentralized Pharmaceutical Supply Blockchain?
Many of us might not know, but the Drug Supply Chain Safety Act (DSCSA) is all set to come into effect this year. The goal of this act is to improve national drug security, but when looked at more closely, we can see that it is ridden with issues related to counterfeit drug propagation and poor patient data security.
What Is MediLedger?
The MediLedger Project is an all new blockchain venture that has been created by Chronicled and The LinkLab. It aims to make use of the crypto network to monitor drug supply chains, thereby ensuring that the price of medicine is always regulated (within the US).
MediLedger Key Benefits
Owing to its use of the blockchain, MediLedger is able to improve compliance of “track and trace regulations” currently in place within the United States.
Another underrated aspect of this platform is its ability to improve patient safety, as well as regulate the supply of drugs to patients.
Handling Of Anomalies:
As per the official company website. MediLedger allows for the “easier reconciliation of exceptions” as and when they arise.
What’s New With MediLedger?
The goal of MediLeger is to deliver customers with an “interoperable system” that is able to serve as a consortium for drug manufacturers, distributors, and dispensers. Though its use, customers will be able to receive benefits such as:
Lowered Medicine Costs:
Through the use of MediLedger, the price of drugs can be regulated, and therefore lowered quite substantially.
Another key use of this platform is to stop the counterfeiting of medicine, thereby stopping the propagation adulterated drugs within the US medicine supply chain.
Through the use of MediLedger, customers can improve their overall business operations.
Who Is MediLedger Best Suited For?
Though the use of a safety protocol called EPCIS, this platform is able to not only streamline internal transactions, but also provide customers with a high level of security that can make business easier for all of the involved parties.
When looked at from a technical standpoint, we can see that MediLedger makes use of a GS1-complaint ecosystem. Though the use of this module, MediLedger is able to provide solution providers with business opportunities that leverage the power of the network itself.
Medi Ledger is able to secure and store sensitive data pertaining to core trading partners, regulators in a completely streamlined/ automated manner. It makes use of many verification protocols, and is thus able to completely eliminate issues related to poor trust.
Who Is Behind MediLedger?
Ryan Orr is the co-Founder of this venture. According to his LinkedIn profile, Ryan describes himself as being a “ serial entrepreneur who holds three advanced engineering degrees from Stanford”. He is also the cofounder of other established startups such as
- Crosscoin Ventures
- Elastic Path.
Similarly, Mauricio Greco serves as the company’s CTO. He is an expert in domains such as digital rights, alt currencies, payments and fintech, and has previously been associated with projects that have been responsible for the creation of various “high profile” blockchain based softwares.
Susanne Somerville is a core team member, and has most recently served as the VP for Supply Chain, a North America based medical company. As per her online bio, Susanne has over “25 years of pharmaceutical, biotech, and supply chain experience”. Lastly, Eric Garvin is the co-Founder of MediLedger. He too has over twenty years of project management experience in the Life Sciences industry.
How Do I Sign Up For MediLedger?
While the platform has not been released to the public for commercial use, a beta model is set to be released in the near future. To download this beta app, customer have been asked to send in an email to company founders on [email protected]