The solution is a collaboration between manufacturers, wholesale distributors, and industry solution providers to create a product verification system.
As the product verification solution relies on an open standard blockchain directory and encrypted peer-to-peer messaging, it enables stakeholder to check the authenticity of prescription medicines required by the drug supply chain security act (DSCSA).
MediLedger Product Verification was developed from the MediLedger Project, which began in 2017, coordinated by the technology company, Chronicled. The San Francisco-based company uses blockchain to create permissioned networks for use across industries as supply chain solutions.
A spokesperson for Chronicled explained to us how the solution had been created: "The goal was to see if blockchain would be useful solution in creating an industry wide, interoperable network to confidentially track drugs throughout the supply chain. The working group consisted of five of the top ten drug manufacturers in the world, and some of the largest drug distributors in the country."
Chronicled developed the system using cryptographic constructs to enable industry and technology participants to operate and distribute data points.
The launch of this verification network comes five months in advance of the regulatory deadline for DSCSA for saleable returns requuirements in late November 2019.
Regarding its usage, the spokesperson said, "The MediLedger Network will be instrumental in securing the drug supply chain. More than 90% of the verification transactions will go through the MediLedger Network when the next phase of the law goes live in November 2019."
According to Chronicled, additional protocols are planned which will enable compliance with upcoming DSCSA requirements and implement cost-saving improvements in the industry’s revenue management processes.