Blockchain, is a technology based on a distributed ledger system that provides secure and transparent means of carrying out transactions.
Therefore, information in Blockchain remains unchanged throughout the life of the network. This creates tremendous opportunities for businesses to leverage this secure technology across different domains.
Indium’s team of engineers have the requisite skills and experience to support projects launched on the Blockchain.
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- Tracking of adherence to compliance policy for transpiration, storing etc.
- Individual ledgers maintained by the different parties pose a challenge to localize a problem efficiently.
Using Blockchain the shipment is tracked from the warehouse to customer. In conjunction with IOT, the movement of the materials are updated in real time thereby making the data available to all the participating members almost instantaneously. Blockchain network is used to capture the transaction data and also the transfer of ownership as and when it occurs.
No reliable way to verify and validate the true value of the products and services due to lack of transparency across supply chains.
- Blockchain provides features like transparency, immutability
- This provides a way for the participants to ensure that the guidelines are adhered to.
- Alerts can be generated through the use of smart contracts/chain code when compliance is not met
- Through the use of Blockchain technology the end user can easily see the point at which the event occurred.
- The public availability of the ledger makes it possible to track every product to the source of the raw material used.
- Process of how drugs are manufactured
- Traceability of active ingredients during manufacturing process
- Genuinity and control of Clinical data is with a centralized authority thereby prone to tampering and access limitations
- Core features make it capable of providing a basis for complete traceability of drugs, from manufacturer to end consumer, and the ability to identify exactly where the supply chain breaks down during an issue.
- Blockchain features provide a mechanism that brings in transparency and traceability of consent.
- Data can be stored in a secure and publicly verifiable manner on the Blockchain
- Prevents tampering with clinical trials results in-turn improving the reliability of the clinical trials data.
Blockchain came into popularity with the advent of Bitcoin, the first official Blockchain implementation of the distributed ledger technology. Ever since the cryptos have been on the rise. One of the major application of the Blockchain domain is in the world of crypto currencies. Many companies have resorted to Blockchain not only for carrying out financial transaction but also have used the technology to raise fund through ICO.
There has also been an increase in the number of crypto exchanges that have come up in the recent past. Crypto exchanges allow the user to trade crypto currencies for fiat currencies as well as inter-crypto dealings.
At Indium, we have the expertise in creating ICO platforms and crypto exchanges which enables token creation, token sale, and crypto related transactions among other features.