Blockchain could create safer, cheaper medications — 3 insights

Pfizer, BlockRx and Genetech are using blockchain technology, a decentralized system employing several computers to manage cryptocurrency, to track medications from the supply chain into the patient's hands, CoinTelegraph reports.

Here's what you should know:

1. These systems protect consumers while increasing transparency and compliance with state and federal regulators.

2. Blockchain technology has already infiltrated the supply chain marketplace through the aforementioned examples.

3. If the technology continues to be adopted, drug prices could be lowered for consumers.

More articles on supply chain:
28 statistics on ASC drug, medical supply expenses
Is a 20% savings in operational costs hiding in plain sight at your ASC?
The Joint Commission standard to know: sterile supply storage area temperature and humidity

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