Jennifer was a trader in a busy market in Nigeria. Her work was so tedious she always get home late. On a particular day, she was on her way home tired as always. She saw a drug hawker by the road and she bought a pain reliever drug. She died in her sleep. It was discovered she used a counterfeit drug that triggered a heartache. This is one out of million cases of death related to usage of counterfeit drugs. In Africa, there is a record of 100,000 deaths resulting from fake or counterfeit drugs. When some pharmacists were asked about the case, they said it was cheaper for them to get such drugs from suppliers. This is truly alarming.

This is not only in Nigeria or Africa as a continent, there are more than one million death recorded each year from usage of counterfeit drugs. In America, it is one of the most lucrative business. This why the percentage of counterfeit drugs in circulation has risen to 30% which is a major concern to the World Health Organization (WHO) and to the world in general.

Have you heard of Blockchain technology? If yes, this is encouraging to know that it is a platform created that has provided solutions to many problems faced in these sectors; finances, agriculture, real estate and in recent times, health and pharmaceutical sector. One of the major problem facing the pharmaceutical and health sector is the circulation of counterfeit drugs has indicated above, this is why FarmaTrust was created to provide a solution to curb the circulation of counterfeit drugs.

What is FarmaTrust?

FarmaTrust is a platform built on the blockchain technology to provide efficient solution to the problem of circulation of counterfeit drugs and to make sure consumers buy only genuine and authentic drugs. FarmaTrust is designed to use Artificial Intelligence and big data analysis to aid in the tracking of drugs. Efficient tracking will definitely restrict the supply of fake drugs and ensure safe supply.

FarmaTrust is bringing revolution to the pharmaceutical industry with the adoption of Blockchain technology and artificial intelligence. This will allow for a transparent supply chain, efficient processes and methods, data security and authenticity. The authenticity is made possible by FTT (FarmaTrust Tokens) which will be used for efficient tracking of drugs and other items.

The FarmaTrust Solution

Circulation of fake drugs. As stated above, 30% of drugs in circulation today are fake.

Inefficient supply chain. There is a supply chain for drugs from where it is produced to the consumers. Consumers are finding it hard to get adequate supply of drugs.

The two major problems facing the pharmaceutical industry are:

FarmaTrust is providing an efficient solution to the above problems by making sure only genuine drugs are in circulation and with the use of Blockchain technology and AI, they can track drugs from production to consumption. Tracking is made possible by the development of Zoi Supply Chain Information Exchange Platform, which will track drugs all over the world. It is important to know that Zoi makes use of Blockchain technology which means it is secure and immutable.

FarmaTrust will provide a cost effective process for pharmaceutical companies which will comply with the track and trace regulations. The advantages of FarmaTrust to supply chain companies, regulators and law enforcement, Government and Consumers can be found in the FarmaTrust WhitePaper. February 2018, FarmaTrust signed a year partnership with Mongolian Government to help the country curb circulation of counterfeit drugs.

Briefly, I can say FarmaTrust is providing a secure, efficient, transparent and authentic way for consumers to get safe drugs thereby reducing death rate and circulation of fake drugs. This is good news for everyone reading this.

FTT & ZOI

FarmaTrust operation is based on FTT and ZOI tokens as discussed above. FTT will help track a drug base on the serial number on the drug.

To learn more about FarmaTrust, watch this video: