The healthcare and Pharmaceutical industry has been heavily affected by counterfeit products as the main challenge the industry faces, despite technological advancement this has still been a problem, blockchain provides solutions in the industry by solving the supply chain of the healthcare and pharmaceutical products preventing counterfeit drugs distribution and records keeping in a distributed ledger that’s is immutable and very hard for hacker's exploits.
(Video Source: YouTube - Atlantico Network - What we do? )
ATLANTICO is one of the blockchain projects using modern tools to help in optimizing the supply chain of the industry products through the use of smart contracts and distributed ledger technology, in this article I will take a look at the projects and how it is improving the supply managements and finally the benefits of ATLANTICO in the industry.
ATLANTICO.
ATLANTICO is a community managed platform that uses modern technology towards optimizing medical and pharmaceutical management processes. Through the platform industry participants will be able to optimize supply chain management and prevent monopoly and counterfeit products. The platform will unite industry manufacturers, wholesalers, retailers and consumers in a platform that tracks products movement to help in the management of the supply chain. ATLANTICO aims to improve the quality of the industry products through community ratings and reviews, allowing value competition in products quality improvement, the most fascinating part of the platform capabilities is the tracking of products through identifiers allowing manufacturers to digitize their products that will track products distribution in the supply chain.
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Supply chain management.
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I’m really fascinated by the platform ability to improve the supply chain, this is through the distributed ledger technology that will be used to track products from manufucturer all the way through the distribution processes allowing them to have statistics of their products in the market.
ATLANTICO network technology allows the security, transparency and supply chain improvement throughout the distributed environment, this method will allow a global monitoring for manufacturers exporting their products across the globe. Manuucturers will use identifiers placed on digital goods that will be used to track movements of their products across wholesalers, retailers and consumers. This will eliminate counterfeit products with the information being used by consumers to get real time information on pharmacies they can purchase the products.
ATLANTICO network will be a one stop network allowing real time monitoring and tracking of the supply chain in the medical and pharmaceutical industry products.
BENEFITS OF ATLANTICO NETWORK.
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ATLANTICO network will be beneficial to the general medical and pharmaceutical industry consumers, this includes patients using the industry products. This will enable the consumers get quality and improved services in the industry by optimizing the supply of the products distribution process.
The network will also benefit insurance companies, thanks to the immutability of the distributed ledger that stores records and prevents records fraud and forgery.
The industry participants will be able to improve quality of their services and products, this will be possible due to the rating and feedback that their consumers will give on their products.
Health centers will be able to improve the quality of services their deliver in order to remain competitive in a community-controlled environment, the ability to be rated by the consumers will leave no choice for the industry services providers but to improve the quality of the services they deliver.
Wholesalers of pharmaceutical will be able to optimize their distribution process through improvement of the distribution process, optimization of the supply chain will allow them to rduce distribution costs and improve the efficiency of their distribution processes through real time statistics and monitoring provided by the network.
The use of blockchain technology will benefit the medical and pharmaceutical industry supply chain management and I believe the ATLANTICO is able to handle the adoption of their network by the industry participants thanks to its scalable network that grows and expends with adoption. The projects features are a game changer in the industry and their business model taps all participants ranging from manufacturers, suppliers, wholesalers, retailers and consumers. There is much need of improvements in the supply chain managements to prevent counterfeit products in the market. For more information about the capabilities of the projects and investment please check the links of the project's website, whitepaper and social pages in the reference section below.
References.
For more information you can click on the links below:
BITCOINTALK PROFILE NAME: DEWI08
WALLET ADDRESS (ETH): 0x53D1Ea8619E638e286f914987D107d570fDD686B
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