David Cohen (co-founder of IOTA) stated in an interview that FarmaTrust is a perfect application for blockchain technology.
Enter SyncFab, a new idea in manufacturing supply chain management. The team, which has prior experience in implementing supply chain traceability and data interoperability projects for leading European food producers, will hold a token crowdsale starting in January. “To me, blockchain is two very different things,” Chain CEO Adam Ludwin said on the latest episode of Too Embarrassed to Ask. The key to removing counterfeit drugs from the market is by tracking the pharmaceuticals through the entire supply chain from manufacturer to consumption.
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Storing just 1 kB of data on Ethereum blockchain can cost thousands of dollars, and data queries are slow.
Blockchain technology, and special [sic] the Hdac blockchain, is the best way to leverage trust, transparency, and security on IoT,” Dae-Sun Chung says. Supply chain is often described as one of the best use-cases for blockchain as a trusted ledger, but no large use-case has been implemented yet. Since then the Dragon Chain token has recently soared past $2 and is maintaining momentum even in the current Bitcoin market. The fish would be analysed and the data immediately recorded onto Blockchain to assure system integrity.
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Disclosure: I contribute software to the Ethereum Classic Project, which is a different blockchain from Ethereum even though the technology is nearly identical.
Their main goal is to provide a global tracking system for the pharmaceutical supply chain industry aimed specifically at blocking counterfeit drugs from entering the market. Cryptocurrency enthusiasts have found a way to raise hundreds of millions of dollars without the hassle of registering with the Securities and Exchange Commission: selling digital tokens on a blockchain. This, paired with the blockchain, creates innovative, dirusative monitoring systems to further streamline our existing food chain supply. FarmaTrust integrates all lines of the supply chain: the manufacturer, warehouses, distributors, and logistical companies, all the way down to the doctors and patients who prescribe and consume the drugs.
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In the main sale, the tokens will be available at their full price of $0.101092 USD per token.
Etherisc is a company registered in Germany that is issuing a token that will be known as DIP on the Ethereum blockchain. The platform will provide pharmaceutical companies, their various distributors and the appropriate regulators with the visibility and information necessary to greatly reduce supply chain costs. The supply of TICS will be a fixed amount, which will ensure that the token value will increase as the platform is adopted by the logistics market. The Cargo Chain One solution will drive efficiencies in resource planning, interactions between partners as well as billing and accountability within the supply chain.
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If the security dimensions of Blockchain technology start to make sense, then this event signals the beginning of the build of an open Blockchain IoT standard.
The team is also more senior than many other blockchain projects, which in our view is better than having a team of only young people with no prior work experience. FarmaTrust has put together a strong team from both the world of blockchain and business. For example, Deloitte suggests that the primary potential benefits of integrating blockchain into a supply chain are that the technology: The secondary benefits are also major. One of Ambrosus’ primary goals will be to incorporate new hardware technology into food quality assessment and then digitizing the information gathered and recording it on the blockchain.
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Blockchain is a perfect use case for pharmaceutical supply chain management because it is transparent, autonomous and impossible to alter.
The modular construction of the Cargo Chain One platform provides a ‘pick-and-mix’ facility that companies irrespective of their size will be able to benefit. Permits automatization of transactions between different stakeholders in the supply chain through smart contracts, allowing automatic management of quality control and supply chain processes. Blockchain provides a solution to this problem by offering an efficient, cheap and immutable supply chain system. Once launched, the FarmaTrust platform will allow users worldwide to leverage the power of blockchain and other technologies such as artificial intelligence to combat counterfeit medicine. It is the first peer-to-peer Industrial IoT (internet of things) manufacturing blockchain for the hardware manufacturing supply chain. To unlock this potential, OriginTrail protocol was designed to tackle the prime challenges limiting the exchange and integrity of data in product supply chains.