The Indian government’s top policy think tank, Niti Aayog is deploying a blockchain solution to curb the menace of fake drugs in the country. Niti Aayog is currently testing the concept to see if it will really work by the end of this year.
The report was first published in FactorDaily. An official in the report said, “We are all taking those medicines and I am sure people are dying. One way to reduce that is to put the entire supply chain on the blockchain.” Niti Aayog wants to tag every medicine with a code so that its supply chain can be monitoring via the blockchain.
Th official fruitier added, “Every time the medicine changes hands, the unique number is tracked. When the consumer gets the drug, there is a QR code or barcode on it. You can open an app and check the details of where the drug was manufactured and all the places where it changed hands to travel to the shop. Once you have sold the medicine, it will get irrevocable audited on the blockchain that this ID has been sold, and it no longer exists.”
The report claims that Niti Aayog has signed up with a private company to set up the blockchain technology. In the blockchain based technology, there will be a hierarchy of barcodes whenever the drugs are transferred. Niti Aayog is currently looking for a partner who will run proof-of-concept solution.
Pharma sector is excited about curbing the menace of fake drugs. At the same time, the sector is worried about the capital expenditure to set up the tech and maintain it. Niti Aayog’s announcement comes at the time when WHO has reported the menace of fake drugs in India.
The report by World Health Organization states that India produces 35% of global fake drugs. Another report from Assocham, an industry lobby claims that nearly 60% of all dietary supplements in India are either fake or unapproved by the regulator.