[PRESS RELEASE] FarmaTrust, the blockchain and AI company, today announced that it filed patents in respect of its system to remove fake pharmaceuticals from the supply chain and provide various data services.
Farmatrust announced today that it has applied for patent protection to cover its pharmaceutical supply chain services based on blockchain and artificial intelligence as well as its ZOI platform, under the expert guidance of the top tier patent attorney firm EIP (www.eip.com). Farmatrust intends to seek patent protection in all the most important commercial markets, and is confident of success.
The patent application seeks to protect a number of inventions that FarmaTrust has made, particularly in respect to mobile applications and protecting the confidentiality of the data of the various participants in the supply chain process. FarmaTrust focuses on providing “track and trace” services as well as various other data services to entities such as Ministries of Heath, Regulators, NGOs, law enforcement as well as pharmaceutical companies which have a legal obligation to ensure the provenance of their products.
“This patent is a culmination of the hard work we have been doing for sometime now, and we believe shows the unique aspects of our system over any other.” said Raja Sharif, CEO of FarmaTrust.
Sharif further adds “We hope to protect the hard work and efforts of our company over the long term and also demonstrates how our solution is quite special”.
Shahnawaz Aziz, CTO of FarmaTrust said “We have spent some time in looking at our technical solution and its architecture. We believe that many of the innovations that we have in the FarmaTrust system by working closely with some of our partners are not only innovative but have actual real world use cases.”
FarmaTrust is the most efficient global pharmaceutical tracking system, ensuring that counterfeit drugs do not enter the supply chain and providing security to pharmaceutical companies, governments, regulators and the public. FarmaTrust’s blockchain based system utilises Artificial Intelligence, Machine Learning, and big data analysis to deliver value added services, efficiency, and a transparent supply chain. The FarmaTrust system is safe, secure, encrypted, immutable and future proof. FarmaTrust is based in London, United Kingdom.
What is Blockchain?
A digital ledger in which transactions are recorded chronologically and publicly. This open, distributed ledger records transactions between two parties efficiently an, in a verifiable and permanent way, facilitating the creation of new and “trusted” networks.