An Indian government think tank is working on a blockchain solution aimed to combat the country’s roaring counterfeit drugs trade.
An anonymous official from the “National Institution for Transforming India, known as NITI Aayog” was cited as saying:
“We are all taking those [fake] medicines and I am sure people are dying. One way to reduce that is put the entire supply chain on the blockchain.”
According to a World Health Organisation (WHO) report, India produces 35 percent of counterfeit drugs that are sold globally.
NITI Aayog hopes to counter this state of affairs by generating a unique ID number for each medicine, which will be tracked through the supply chain on a blockchain, the official explained. With the system, a consumer or business can access the history and source of the drug by scanning a QR code or barcode on the medicine.