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Blockchain Business

FedEx Institute Partners With Pharmacy to Use Blockchain For Cancer Medicine Distribution

As per news outlet Commercial Appeal, The FedEx Institute of technology is going to partner with pharmacy services company, Good Shepherd Pharmacy and develop new blockchain regulated infrastructure to assist cancer patients in getting their medicines.

The FedEx Institute of technology has served as a promoter of research in upcoming technologies and it works in partnership with the University of Memphis research unit. This institute was launched in February this year with the intention of making University of Memphis a popular center of research.

FedEx Institute Partners With Pharmacy to Use Blockchain

Based in Memphis Good Shepherd Pharmacy has recognized that blockchain can receive unused medicines from cancer patients and invariably provide them to those patients who are not financially strong enough to afford them. Secure and immutable ledgers would help in the safe distribution of such confidential medical data. Good Shepherd Pharmacy’s CEO Phil Baker has this to say.

“In Tennessee alone, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year. The blockchain is the solution to that problem. The REMEDI project (REclaiming MEDicine) will divert valuable medication into the hands of patients who would not otherwise use it.”

The institute is going to host an event which will bring together blockchain experts together to discuss this initiative. The proposed event will be conducted along with Blockchain 901 which is a professional organization which works to expand the technology workforce in Memphis.

In the month of May this year, FedEx CEO Fred Smith asserted that blockchain is the “next frontier that’s going to completely change worldwide supply chains.” February saw FedEx joining the blockchain in transport alliance or BiTA, a group which comprised of rail operator BNSF, JD Logistics, and GE Transportation

FedEx Institute Partners With Pharmacy to Use Blockchain_1

In fact, last month Microsoft and supply tracking solutions provider Adents also announced a blockchain project for the pharma sector. This new system plans to provide end to end tracing and helps the users to trace all the products from their point of origin to all along the supply chain.

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