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.