Pharmaceutical on Blockchain

April 26, 2018


Specific industries have a higher likelihood of adoption of pharmaceutical industries, and food products are the most likely to incorporate blockchain in the short term because tampering with these products is the most life-threatening and there are varying standards for authentication worldwide. Blockchain for electronic medical records. Blockchain for Medicaid applicants. Blockchain for payments. Blockchain for tracking and tracing the movement of prescription drugs from manufacturer to the pharmacy to prevent counterfeit or dangerous drugs from entering the supply line. healthcare-blockchain-pharmaseutical

What does Quantaloop have in mind for blockchaining the Pharmaceutical Industry? We start off with understanding the medical assay process.

Medical assay on blockchain: An assay is an investigative (analytic) procedure in laboratory medicine, pharmacology, environmental biology and molecular biology for qualitatively assessing or quantitatively measuring the presence, amount, or functional activity of a target entity (the analyte). Assays have become a routine part of modern medical, environmental, pharmaceutical, forensic and many other businesses at various scales from industrial to curbside or field level. Those assays that are very highly commercially demanded have been well investigated in research and development sectors of professional industries, undergone generations of development and sophistication, and become copyrighted intellectual properties via highly competitive process patenting. Such industrial scale assays as these are often done in well equipped laboratories and with automated organization of the procedure—from ordering an assay to pre-analytic sample processing (sample collection, necessary manipulations e.g. spinning for separation or other processes, aliquoting if necessary, storage, retrieval, pipetting/aspiration etc.).

This highly sensitive data needs powerful systems to protect it from malicious attempts to steal its confidential data. Quantaloop will provide a unique Loop Chain for the medical industry to run secure data transfers for assay results using smart contracts will assure only the correct individuals and parties receive data with assay results. This market is at the beginning of the drug industry’s supply chain and by running this data first we can implement blockchain for any business who will need this advanced technology to run their systems to provide the benefits of the Quantaloop ecosystem.

Patient blockchain Patients encrypted health information can be shared with multiple providers without the risk of privacy breaches. The future of patient data will be each user holding all of their personal data on their own personal blockchain and any business government or person needing access will have to ask this person for permission to collect their data for its specific needs. Quantaloop will assist in the larger part by holding personal medical data / dental data on a user’s loop in the highest cyber-security and privacy. This highly sensitive data can be only accessed by the user, in this case the patient, or a patients confirmed authority through a permissions access process. For example of needed access, say 1 dentist and 4 doctors are all looking for access as well as a chemotherapy session to get help from government funding but the patient has health coverage through a private insurance, Quantaloop has an easy user interface where the patient only has to approve any one of these who are trying to gain access to their medical information via smart contracts. This will cut out many middlemen and will even work if the patient is to sick to sign and verify documents through permissions. The patient blockchain can even take care of processing payments in any country. This new and efficient decentralized way of providing health care will disrupt and change the way the world interacts with healthcare. Quantaloop gives the privacy and control of personal data back to its rightful owner through patient facing medical loops.

Medical data business Data transfers will become streamlined between parties in the medical industry police ambulance private and public government sectors will have access in real time all patient data through smart contracts. IOT limiting human error this does not cut down on human jobs but gives more time to people to do more meaningful parts of their jobs, an ambulance needs to talk directly to police and Hospitals, IOT data from machines in the ambulance can talk directly to street lights and ERs to provide safe routes and alert hospitals of what is happening so they can know what patient is coming in and opening up that patients Loop to access there data using our smart contracts and what they have to be ready for.

Other ideas include all of the players in the prescription drug supply chain — not only pharmaceutical companies, but also drug wholesalers, drug distributors, hospitals, and pharmacies — would be able to use blockchain for drug tracking and tracing.

For more on how to get on the pharmaseutical loop, please contact us through email: today!