Blockchain to SAVE LIVES

Here's an idea Blockchain was born for. Not only will it improve a costly and heavily regulated supply chain with automated efficiency and inevitable cost savings for consumer and producers, it will SAVE LIVES. Potentially many thousands of lives. That is worthy of the title Blockchain Revolutionary. The project has already been in development for a couple of years, there's a working prototype for potential partners to try out the tech and the roadmap ahead is detailed and considered. I am genuinely excited about this project because it's more than just a vanity coin project, it has a truly socially transformative promise which blockchain often claims but does not always deliver.

Fake Drugs

With the rise of internet purchasing and it's inherent opportunities for criminals who can profit, hiding behind dubious online stores, many fake drugs are being sold all over the world, sometimes with attractive discounts for unwary customers keen to make a saving. People who require medication but are tempted by discounted prices claiming to be direct from the manufacturer are duped into buying useless or dangerous compounds instead of the genuine life saving compounds. fake drugs can sometimes even re-enter the genuine supply chain at various points with disastrous consequences.



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First World Problems Often Seem Trivial

It has long been a developing country problem but as criminal networks become more sophisticated, developed nations now face the same scourge as they target new markets. The cruel irony is that buying drugs at discount from grey sources could also have grave consequences. While some fake drugs are simply ineffective and benign or out of date, others are illegally made with huge risks for the patient. According to a PWC report, up to 30% of drugs on the open market could be counterfeit. Perhaps millions die from taking counterfeit drugs each year. Nearly half a million people die each year solely as a result of ineffective (fake) anti-Malaria medications and the toxic substances which fake drugs are often made with can include rat poison and harmful industrial chemicals. *source

Uncountable Losses

Otherwise treatable diseases can proliferate with the patient unaware that their condition is not being treated at all. Counterfeit drugs harm the reputations of the manufacturers which rely on trust and can result in huge revenue losses for state entities as a result of fake drugs entering the supply chain and being chosen over genuine products. Tax revenues which could otherwise be spent on public health for some of the most vulnerable people.

The consequences of consuming counterfeit drugs could end in hospitalisation, permanent damage or death for many thousands of patients. If even a fraction of those lives could be saved, (and undoubtedly many will be), that's an incredible result. The Blockchain Revolution is not simply about the digitisation of currency !

There are also other deadly problems to combat which affect all stakeholders. Suppliers, state departments, law enforcement and end users. Drug theft is big business and prescription drugs often end up on the street where corruption allows them to be stolen. Weak points in the supply chain can be exploited. The market for deadly synthetic opiods for example, is huge and there are many good reasons why these powerful medications are strictly licensed for use. Their unlicensed use makes criminals rich while people die. A realistic way of tackling this global endemic problem is not only a good investment in our society, it makes sense for everyone, including state entities, pharmaceutical suppliers and the manufacturers, whose reputation is based on quality, efficacy and trust. In a similar way that shipping logistics supply chains have embraced blockchain to minimise losses from theft, errors in shipment and delays, pharmaceuticals manufacturers and suppliers can build in safeguard to their supply chain with farmatrust.

Read the Whitepaper



It's always best to purchase drugs from a recognised supplier. But how does a supplier know if the medication is what it's supposed to be, untampered and direct from the manufacturer as stated? Often heavily regulated medicines require long paper chains of documentation, meticulous record keeping and very high security storage. All of these important factors increase the price to end users, whether a private individual or a government department, supplying patients through public health.

FarmaTrust

As a Business Mentor and a Creative Director of my own design company, I always look for the immediate USP. The one thing which simply explains why someone would justify choosing one particular business over another as their supplier of a certain service or goods. If it's immediately recognisable - a no brainer, a business idea has a really good chance of success. If I immediately get it, like many blockchain projects I have researched over the last couple of years, then other people will get it too and that's usually a fair indication of the strength of concept. I always tell my mentoring clients to pick a name which reflects their Unique Sales Proposition so that the basic idea is locked into people's minds immediately when they hear it, read it, see it. I'd have to say Farmatrust pretty much nails it down. Round of applause for the does what it says on the tin approach.

Smart Drugs

Blockchain promises to make the supply chain of pharmaceuticals more secure than ever before and at the same time, lower costs, reduce the need for regulation procedures through technology and become a trustless activity. Some Blockchain ideas have one major improvement. Here is a wide ranging application, some might say a killer app; one that vastly improves upon the previous method or procedure becoming indispensable.

How Does it Work ?

A simple and efficient concept, Farmatrust is a scalable blockchain solution which automates the end to end tracking of pharmaceutical products right across the supply chain from manufacturer to end user. Using big data in conjunction with machine learning and smart workflow processing, Farmatrust can securely and with pinpoint accuracy, record the whereabouts of serialised packages of drugs as they journey across logistics routes in accordance with track & trace regulatory requirements. It's an elegant concept and one where the removal of human error will SAVE LIVES. The Zoi platform includes a free app for the end user who can easily check their drugs against the system with complete trust. EU directive 011/62/EC, Falsified Medicines aims to combat fake drugs and the standard use of information (below) can be used by the blockchain to verify a genuine product.

● Manufacturer product code

● Serial Number

● National reimbursement number if present

● Batch Number

● Expiry Date



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FTT Tokens

FarmaTrust will issue FTT tokens (an ERC20 standard token). The FTT token is the publicly tradable digital asset that allows all users to access and participate in the Zoi ecosystem. Smart bonding will allow a pharma company to mint batches of tokens which will be immutably tied to a batch of products. It's an elegant and timely solution to a a very old problem. One which has not really been possible to tackle so effectively until now. I've long said that when governments begin to understand the power of the Blockchain they will embrace it for governance in all departments. This is the type of technology that could also bring enormous savings to state entities like the NHS. Jeremy Hunt are you reading this ? (National Health Service is the publicly funded health service, free at point of use in the UK.)

ZOI Tokens

●FTT token holders can stake their FTT tokens to receive ZOI tokens,

utility tokens used to fuel transactions and payments on the Zoi platform.

●500 ZOI tokens are generated every 7 days when 100 FTT tokens ar

e staked.

●ZOI tokens allow account holders, pharmaceutical companies,

supply chain companies, government, NGOs and law enfor

cement entities,

and end users to access information of products generated on the Zoi platform.

●ZOI tokens are only available to use on the Zoi platform,

and can be bought and sold on the FarmaTrust Zoi Exchange.

●ZOI tokens are burnt when used on the platform

The Team

The team is highly credible and vastly experienced with Chairman Lord Anthony St John of Blesto; a cross bench member of the House of Lords, CEO Raja Sharif who has driven the vision previously working with bluechip brands like British Telecom and COO Peter Bryant, meticulously bringing the company vision of eradicating counterfeit drugs from the global supply chain to life and CTO Shahnawaz Aziz, a technological visionary who seamlessly brings together AI, blockchain, big data, mobile and social media. The rest of the team are equally impressive as are their formidable advisory board. I'd score their chance of collective success as probability 1 and that's incredibly rare of me to stake such a high estimation of a project's chances. No doubt they have the technical language and the argument to take farmatrust all the way to it's logical conclusion. A scalable and global gold standard for the eradication of counterfeir drugs

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this article is not an endorsement of farmatrust. I always recommend people conduct their own research and due diligence and not rely solely on the advice of others. Remember investments can go up as well as down.

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