FARMA TRUST
Introduction
Discussion of the joy of FarmaTrust.
What is FarmaTrust?
FarmaTrust is a peer to peer web-based platform designed to keep a lasting record of every legitimate drug ever produced. Using Blockchain technology, it is at the forefront of preventing counterfeit drugs from entering the supply chain to prevent the death and suffering of patients, both in developed and developing countries. Furthermore, the use of AI and machine learning technologies also benefits the commercial operations of the pharmaceutical industry, improving efficiency and revenue.
Platform Strength
Our platform Zoi is a peer to peer web-based platform designed to keep a lasting record of every legitimate drug produced.
FarmaTrust is a true use case for Blockchain technology with respect to its ability to create unchanged recordings that meet regulatory requirements for irreversible data as well as track and track obligations. Using Blockchain as a foundation allows FarmaTrust to create commercially viable products for the pharmaceutical industry.
Executive Summary
The pharmaceutical industry is very important for the preservation of people’s lives and health. It is an industry worth US $ 1 trillion, and yields some of the highest profits among all the commercial sectors.
The main challenges for the pharmaceutical industry today are:
- Proliferation of Counterfeit Drugs: Fake drugs produce the deaths of hundreds of thousands of individuals each year. Increase in Online / Digital Recipes: Increased on-line purchases and increased “virtual p” earnings acceptance have made it easier for counterfeiters to create fake online pha sites, with law enforcement agencies struggling to stop them permanently.
- Environmental Settings: As threats to pharmaceutical companies profitability increases, regulatory expenses increase as well, and patent cliffs become more dangerous: The most profitable drugs will soon be produced by generic manufacturers with low margins.
- Chain Inefficiency: Such inefficiencies distort drug prices while reducing R & D budgets from many pharmaceutical companies. Inefficient supply chains also mean there are deficiencies in some countries and oversupply in others.
- Growing demand for ‘personalized’ medicines: Increased demand for ‘personalized’ medicines requires a secure, transparent and unlimited solution globally accepted.
Such dynamics affect the most vulnerable members of society – the sick who fought against cancer, HIV, malaria and other life-threatening diseases.
As a result, FarmaTrust firmly believes and believes in its ability to provide a uniform approach to addressing the challenges facing the pharmaceutical industry. Blockchain technology has the potential to fundamentally change this industry, and will significantly help address this challenge.
The FarmaTrust solution will revolutionize the pharmaceutical industry in terms of both cost and warranty. The customer will be assured that the vital drugs are genuine and, therefore, effective.
With the advancement of Blockchain technology as well as the development of AI and encryption, FarmaTrust believes that there are effective, cost effective solutions, cooperation to solve problems affecting the pharmaceutical industry.
Regulatory Environment
What makes this so complex is that the regulatory requirements for serialization and track and trace are significantly different from region to region and country to country. What complicates the attainment of visibility is the fact that few existing tracking and reporting standards exist; each participant in the supply chain has different systems and processes.
Companies producing, selling or issuing drugs within the EU must comply with the path and track regulations of February 2019 with the FATified Medicines Directive (FDM).
Given the above and the fact that most of the drugs are sold to one of these two locations and are distributed in countries covered under different regulatory conditions, pharmaceutical companies are eager to convey serialization and track and track their needs.
Proliferation of Counterfeit Drugs
False fever in the industry is massive. It’s estimated at about $ 200BN. “We have more copies than illicit drugs in the market,” said Christophe Zimmermann, anti-counterfeiting and piracy co-ordinator of WCO. “In 2007-2008 alone, up 596 percent.
The issue of counterfeit drugs is shown in the following statistics:
- Up to 30% of drugs sold in developing countries are false.
- The market value of counterfeit drugs is estimated at $ 200 billion per year.
- By 2015, it is estimated that this criminal product causes deaths of between 100,000 and 1,000,000 people annually.
- The ten-day crackdown on counterfeit medications co-ordinated by Interpol on May 11-21, 2014, led to 8.4 million doses of counterfeit drugs seized.
- In 2009, 20 million pills, bottles and fake and illegal drugs were caught in a five-month operation coordinated by Interpol across China and seven Southeast Asian neighbors; 33 people were arrested, and 100 retail outlets closed.
Online Pharmacies
With the increasing use of online services and smart mobile communication preferences, patients generally switch to “virtual pharmacies”. In many ways, this is a bigger problem than a physical pharmacy, because of the ease of creating a website or an on-line portal. Furthermore, since they exist only in cyberspace, they are in many cases unruly. The problem is increasing with the availability of prescription drugs on the dark web, which has little visibility for law enforcement officers.
FarmaTrust Platform
To combat counterfeit medicines, powerful solutions need to be employed that will stop counterfeiting from supply chain contamination. As shown above, the problem is getting worse. Current technologies such as tamper-proof and / or holographic labels and unique serial numbers are not effective enough.
The solution is to track drugs through the supply chain that connects the digital system with drugs that move in the physical world.
Our Zoi platform is an exchange of distributed and interoperable pharmaceutical supply chain (SCE) to realize the above solutions with Blockchain as the underlying technology. Platform will:
- Provide pharmaceutical companies, packaging, distributors, pharmacies, and their regulators, the visibility required to make critical decisions that can reduce supply chain costs;
- Identify gaps in various compliance regimes, cover missing costs through counterfeiting; and
- Protect consumers and brands through the reduction of counterfeit medicines that find their way into the supply chain.
- The platform will create a network of pharmaceutical brands, contract manufacturers and suppliers, logistics and shipping companies, wholesalers and distributors as well as pharmacies and hospitals.
Goal Architecture
FarmaTrust architecture for target countries will be developed on a microservice basis, processed with plug and play capability to create robust, scalable and high performance solutions.
FarmaTrust architecture layer:
- Original Applications and Web Applications: Wallet creation and authentication such as KYC and authorization to track FTT tokens. During registration, Know Your Customer process will ensure a valid identity and background to meet regulatory and compliance requirements.
- Business API Layer: Each client will be able to connect to our ecosystem, exposed through our endpoint that will consume JSON data and respond with JSON data. Minimum data is required to contact our technical layers.
- Technical Layers: With the minimum data from the business layer, our microservices in the form of a quiet API will enrich the data and arrange the right calls to the technical components that make up our foundation.
- Base Layer: The core processing component to build the foundation is here. Data from social, mobile, cloud, and other applications Blockchains and personal Blockchains are extracted, loaded and modified for analysis.
- Monitoring and Security: Business monitoring, application monitoring and infrastructure monitoring take place here to ensure the health of platforms and businesses. At the same time security measures are taken at every level
Blockchain
The technology behind Bitcoin, referred to as Blockchain, was established as a large cross-business transaction ledger without the need for control by any single entity.
Blockchain is an open network where anyone can add blocks or review the entire Blockchain from the beginning of the Genesis block to its destination.
This is a common ledger that does not change between all parties in the business network. Inability to prevent disputes in transactions and be achieved through cryptography. “Smart Contracting” allows two or more parties to sign an unchanging contract that can be met automatically.
Application Blockchain to Pharmaceutical Supply Chain
We are trying to disrupt the value chain in the pharmaceutical industry by causing disruptions to manufacturing platforms and distribution services. Our journey starts from the chain of manufacturers.
Current Supply Chain
As shown below in the diagram, packet tracking becomes a challenge because of the complexity and many actors involved in the pharmaceutical supply chain.
Logistics to integrate all supply chain management systems, ensuring common data standards and processes is an almost unthinkable and costly undertaking that requires high levels of coordination across various entities within the entire supply chain.
Supply Chain Supply FarmaTrust
The FarmaTrust platform is easily integrated for companies with large and highly competent IT departments and those who do not have such resources, such as small, non-chain pharmacies in developing countries without a system of forward selling (PoS).
To achieve the goal of maintaining a pedigree for each package of drugs, serialization is written to Blockchain. This is done in a very lightweight approach so as to ensure every actor in the supply chain does not have to change internal processes and systems.
Functional View
By utilizing Bloc technology, every entity in the supply chain needs to connect their supply chain management system to the FarmaTrust platform to authorize and communicate the transfer of ownership of pharmaceutical packages without the need for multiple supply chain entities to coordinate or communicate directly. or even know each other.
FarmaTrust Architecture
In the FarmaTrust platform, users register access to multi-signature (multi-sig) wallets with KYC consumer characteristics. User creates a shared account for multiple parties’ access. Each user has a private key to authorize a transaction, 7 out of 9 multi-sig capabilities will allow the FarmaTrust platform to track token flows.
The Pharmacutika Company has a Holders token and assigns a Utility token to each party involved in the FarmaTrust Supply Chain Exchange (see Token FTT section).
Node connectors and node converters enable interoperability with other Blockchains. Automated applications use the ML algorithm to optimize distribution routes and learn from data insights to make dynamic decisions.
The benefits
FarmaTrust is a web-based peer to peer platform designed to keep a lasting record of every legitimate drug produced. Using Blockchain technology, it is at the forefront of preventing counterfeit drugs from entering supplies and therefore preventing the death and suffering of patients, both in developed and developing countries.
FarmaTrust:
- Save lives by giving the drug genealogy and trust in the manufacturer
- Save lives by freeing user data that was previously locked for R & D use.
- Significantly reduce development costs (using existing technology)
- Provides infrastructure of infallibility – no central database.
- Giving in eternity – no central database and decentralized ledger.
- Provides recording integrity, and can not be broken.
- Provides the potential for personalized medicine.
- Is agnostic regulation – lots of configuration
- Improve efficiency with artificial intelligence in the supply chain.
- Facilitate on-line requests – items can be checked whether they are genuine.
- It is global – this system works wherever there is a connection to the internet either via landlines or the availability of 3G / 4G / 5G or via satellite technology.
FTT Token
FarmaTrust requires a utility token that is used to track drug items and packages through our platform and also pays for tools and services provided by FarmaTrust.
FarmaTrust will also issue a token holder whose symbol is FTT. FTT tokens are based on the Ethereum ERC20 token standard that will be upgraded to the ERC223 token standard after sufficient support is available. A total of 600 million FTT tokens of a total of 1 billion, will be available for sale. Each FTT creates the token utility requested to use the FarmaTrust platform and services.
FarmaTrust EFT Plan
FarmaTrust plans to offer FTT tokens at various stages to ensure the most efficient distribution in management outlook on EFT and with due regard to market conditions. With this in mind, FarmaTrust management has decided to make the token available in two stages.
Main EFT
Upon completion of Pre-Sales, FarmaTrust, intends to conduct EFT starting in the first week of March 2018. You must enter whitelist details as described below.
Phase 1 : 20% off of original token price for 1 week or 75m token cover, whichever comes first.
Phase 2 : 10% discount from original token price for 1 week or 125m token cover, whichever comes first.
Phase 3 : Full token price (from 0.00010870 ETH per token) for 4 weeks cover or rest of all tokens (600m total), whichever comes first
For EFT purposes, FarmaTrust will publish a simple token, which will be convertible into a Holder token as described above. This may happen in Q4 2018, or like any other time depending on the development of the platform and client base.
Token Distribution
Use of Token Funds
In the case of the Use of Token Funds, all funds received from the token distribution event will be used for the development of the FarmaTrust platform to verify the authenticity and validity of the platform in the pharmaceutical field and also the purchase of AIs and other services.
Roadmap
For further information, please visit some of the Links below:
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