Researchers Fight Counterfeit Pharmaceuticals With New Blockchain Development

Researchers at Portland State University (PSU) have seized international attention after announcing they’ve developed a new blockchain protocol geared towards fighting counterfeit pharmaceuticals.

Blockchain technology, or a decentralized ledger system that’s increasingly taking hold in the business world, was studied by researchers who found that it could record transactions in a secure way that can be used to determine which pharmaceutical products are legitimate and which are fake.

According to a press release issued by PSU, the new blockchain protocol “relies on blockchain to record transactions in a new, more secure, way that would help curb fake pharmaceuticals by product checking and decentralization.”

Blockchain and Counterfeit Pharmaceuticals

Researchers focused on the ledger nature of blockchain technology when developing the new protocol; since blockchain stores transactional records at every step of the process, a chain of information is created which can be thoroughly reviewed for discrepancies that could be a sign of counterfeit pharmaceutical operations.

Nirumpama Bulusu, a professor of computer science who helped publish the new report, stressed that the infallibility of the blockchain ledger was central to the entire project.

“We wanted to come up with something that’s foolproof,” she said in the PSU press release.

counterfeit pharmaceuticals and blockchain. Image by mmi9 from Pixabay
Stop counterfeit pharmaceuticals with blockchain. Image by mmi9 from Pixabay

Defeating Counterfeiters

Researchers also stressed that the decentralized nature of blockchain technology, which makes it hard for any one person to control the entire transaction record, will make it harder for counterfeiters to fool others in the system and take advantage of vulnerable populations.

The PSU press release noted that the blockchain protocol developed by researchers wasn’t merely useful for counterfeit pharmaceuticals, either, but could theoretically “be applied to any supply chain – big or small.”

Outside of the tremendous business applications for the blockchain protocol, the research will doubtlessly help curb the ongoing counterfeit pharmaceutical crisis, which appears to have been on the rise lately.

Customs Action

U.S. Customs and Border Protection, an agency of U.S. Homeland Security, has been dealing with a deluge of counterfeit pharmaceuticals lately that the blockchain protocol may help soothe.

Certain American facilities are immensely complex, meaning that blockchains decentralized nature could help make their logistical process more manageable. According to information compiled by the PwC Network, at least 1 million deaths are attributed to counterfeit drugs globally each year.

The new blockchain protocol could help cut down on those deaths, however, as researchers stressed it’s going to become cheaper and easier to use. Concluding their press release, the researchers noted that future business owners could even track their product history from their smartphones soon.

Hot this week

Did David Wineland and Serge Haroche Steal Idea For The Nobel Physics Prize?

Dr. Omerbashich says the Royal Swedish Academy is a Crime Scene and he has the proof that Nobel laureates stole his discovery.

New Approaches to Disaster Relief Challenges

Disaster relief has always been a challenge. NASA, Google,...

3 Legitimate Money Making Methods to Supplement Your Income

In a perfect world, when your landlord raises your...

2016 Predictions by World Renowned Medium and Psychic Lindy Baker

World renowned medium and psychic Lindy Baker is interviewed by The Hollywood Sentinel, discussing psychic power, the spirit world, life after death, areas of concern in 2016, and much more.

Digital Coupon Customers Spending More Than Double At Stores

A new study shows that customers who use digital coupons go shopping more for groceries and other household goods more often and spend more on their shopping trips.

After The Death of Tzeela Gez, Seeking Painful Reprisal, Not Tweezed Action

Tzeela Gez was critically wounded in the terror attack. She was rushed to Beilinson Hospital while undergoing resuscitation in the ambulance.

Jane Austen Wrecked my Life – Blaming the Wrong Scapegoat

The film’s title is original and promises humor but,...

Is Generative Engine Optimization (GEO) Really the Future

Is Generative Engine Optimization (GEO) Really the Future? Everything...

Kanat Kopbayev and the Next Generation of Leadership in Central Asia: A Kusto Group Perspective

Kanat Kopbayev, through his strategic role at Kusto Group, has been instrumental in nurturing young leaders to meet the demands of today’s business world.

Designing the Perfect Control Room: Essential Features and Modern Trends

Key Takeaways Discover the fundamental aspects of creating an...

The Five Leading Tech Marketers in Israel

Israel’s high-tech sector has earned its place as a...

Lies And Deception Is Hamas Victory

Hamas is the manipulation master of Westerners' minds. They learned well how the West thinks [or does not] and they manipulate the West to concede to them. A Hamas victory is not what Westerners would expect.

Peer Review Under Pressure: Scientists, Journals and the Struggle for Trustworthy Research

Peer review under fire: critics say it’s flawed, slow and biased. Replication may offer a better test — but it’s still rare.

Related Articles

Popular Categories