The ability to track and establish provenance of pharmaceuticals and controlled substances is a key challenge for the healthcare industry. Counterfeit goods masquerading as legitimate medicines is rife in the industry, especially in developing nations as is the issue of drugs being sold on the grey and black market. Because of the multiple parties involved across the drug supply chain, tracking this type of good can be challenging with traditional technologies.
Kadena has integrated its hybrid blockchain solution into Rymedi’s healthcare platform, enabling the ability to track the provenance of controlled substances. The unique nature of this hybrid blockchain means that a publically available identifier can be stamped on medicines, and other controlled substances such as CBD which can then be linked back to a set of records that are secured in a confidential vault as part of the Kadena/Rymedi solution. These records can then be inspected for audit purposes as well as sold on a data marketplace.
Rymedi’s offering is broader than the tracking and tracing of controlled substances, providing a broad solution for management of data in the healthcare space. For example, Rymedi is also able to store HIPAA compliant data on the blockchain and has a track record of supporting the elimination of Hepatitis C infections through deploying vaccinations and uses blockchain technology to manage related data. They have already begun administering Hepatitis C vaccines in Mongolia (in compliance with the World Health Organization) and are collaborating with Kadena to launch their data management system into the U.S.