FarmaTrust: Eliminating Infiltration of Counterfeit Drugs

FarmaTrust is a FarmaTrust token. 

What the FarmaTrust token does is that it tracks medicinal products through the supply chain as well as other products that you may need and essentially what that does is that it secures the supply chain. So they are no infiltration of counterfeit drugs from the point of manufacture to the point of consumption.  

There is a lot of fragmentation within the pharmaceutical company and this is where the FarmaTrust comes in to bring all the parties together and protect the consumer as well as provide transparency to pharmaceutical companies, the regulators, and government. 

Transparency means a lot, producing fake drugs is extremely dangerous and can cause death. So FarmaTrust has come to eliminate these issues of fake drugs. Statistically, the numbers of fake drugs are numerously large.

The pharmaceutical company itself is worth 1.3 trillion per annum. $200 billion of that is actually fake drugs. Now let us talk of the 50 thousand per million people that die every year because of fake drugs. Farmatrust is here to reduce the negative impact of pharmaceutical companies on people’s life. 

Different people encounter fake drugs, an example of such people is the CEO of FarmaTrust Raja Sharif, he then researched on statistics of fake drugs currently in the world and he discovered that it was more than 60%. He started thinking why would someone want to sell fake drugs? And he found out that it cost 15 to 20 cents to make a tablet depending on where you are. He discovered that to make fake drugs is way cheaper. So the margin is extremely much and of course, the system is so bad that if you are caught with counterfeit pharmaceutical drugs, you may likely not go to jail.

 So he did more research on it and he found out how the supply chain works, how parties communicate with each other, the system they use in communicating with each other and how regulators are actually trying to secure the pharmaceutical supply chain but finding it difficult because of the number of commercial companies in it. This has been an issue to the pharmaceutical companies until the advert of blockchain.

 Farmatrust thought of the blockchain as a foundational layer. So they use the blockchain to gain that credibility so that the government, the pharmaceutical company and the public are clear that one’s records are created they can actually change these records and find out what the problem was 

In order to reduce the rate of fake drugs and increase transparency, the FarmaTrust created different applications for the customers, hospitals, pharmacy etc. the application will help monitor the stock control, data and how these drugs were being generated.   The software is an artificial intelligence.

The most exciting thing about the ICO is the ability to give pharmaceutical companies and regulators the ability to have predictive supplies and the software that will enable the pharmaceutical companies to know where to forward their drugs to. That is to the place where they most need it

 WHY IS FARMATRUST IMPORTANT? 

This is an open-ended question with different opinions but this is the major reason. 

The FarmaTrust is using blockchain   as a necessity for the foundation of credibility and incorruptibility   of records and it contribution is very different and genuine.   It also provides availability for the developing world to be serviced. It also provides pharmaceutical companies to do the predictive supplies  

THANK YOU My entry into @originalworks contest: https://steemit.com/blockchain/@originalworks/260-steem-40-bonuses-sponsored-writing-contest-farmatrust farma2018