Rx REPORT

Could Blockchain Technology Be Used For DSCSA Compliance?

If your email inbox is anything like mine it has recently been swamped with articles and webinar notices about the possible use of blockchain technology to solve multiple challenges in healthcare.  I recently attended a very interesting day-long workshop on that very topic.

So is blockchain a real solution, or is it just the latest over-hyped buzzword that is being promoted by people who don’t understand the real needs of healthcare companies?  I’ll tell you what I think.  But first, a little background.

Blockchain technology is a way of encapsulating information within a layer of structured data that multiple parties can use as the basis for trust in the accuracy of the source of that information.  It’s all about adding trust to information that is shared between parties.  Trust is just one of the many components of security.

There are many ways to apply blockchain technology.  The most famous application of it is in the virtual currency known as “Bitcoin”.  The Pharma Blockchain Bootcamp I attended last month, organized by DisruptiveRx, included a mix of speakers, some of whom were experts in the technology, but were not very familiar with the pharma industry, and, some who were experts in various aspects of the pharma industry and were excited about the potential use of blockchain to solve a challenge within their area of healthcare expertise…
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