ASCH Strengthens Drug Traceability with Blockchain Technology
Recently, ASCH has reached a strategic cooperation with ForceClouds, a technology innovation company focusing on life sciences. The two sides will jointly build a complete set of blockchain applications for clinical trials, supply chain management, and drug traceability system. ASCH’s application programming interface (API) will provide an easy to use, standardized REST interface. ForceClouds will plan specific business scenarios suitable for the implementation of blockchain technology based on the sophisticated understanding of the pharmaceutical industry and combined with its existing products and customer needs.
What are the challenges in terms of traceability and cold chain?
In drug traceability, the current situation is that the link among raw materials, manufacturers, downstream channels, distributors, retailers, and consumers lacks a self-certified trust mechanism, and there is no interconnection between these upstream and downstream chains, so it is difficult for them to develop in-depth and extensive cooperation. In addition, the characteristics of drug supply chain, including complex, long process, numerous participants, etc., cause the traceability time to be very long when the drug safety issue occurs.
In addition to traceability, the cold chain also encounters many problems. Firstly, in the process of cross-regional transportation, there will be the change of carriers, resulting in poor real-time temperature records and unclear responsibilities. Secondly, manual temperature statistics are prone to bias. Finally, when using third-party logistics transportation, there are pain points that the goods are scattered, the performance and capability are opaque, and difficult to achieve information sharing.
Blockchain ensures the authenticity, accuracy, completeness of tracing information
Faced with these challenges and pain points, ASCH applies the blockchain technology to the drug traceability system, to ensure the traceability from different dimensions, including raw material, production process, logistics, storage facilities, import and export, marketing channel, store and consumer, and so on.
For the cold chain problems, recyclable temperature sensors will be used to record real time cargo information, and match temperature information with location information, to make the comprehensive information on chain.
On the other hand, the decentralization and the distributed network of blockchain overcome the various drawbacks of the centralized system, and makes it easier to build a traceable cold chain system which can be supervised in real time. By using the open and transparent nature of blockchain technology, logistic providers can share the carrier capacity with clients and maximize the utilization of cold chain logistics resources.
ForceClouds, established in 2012, mainly uses cloud computing, big data and artificial intelligence technologies to provide information automation management solutions for pharmaceutical, medical equipment, animal health, crop science, nutrition and health care industry companies. ForceClouds has received around $10 millions USD of financing since 2017, investors including Eight Roads, Oriental Fortune Capital, Blue Lake Capital, Triniti Capital, etc.
The collaboration of ASCH and ForceClouds is committed to providing simple, secure, efficient and compliant information automation system solutions for life sciences industry.
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