In November, Samsung SDS will conduct a series of pilot projects to test blockchain-based drug distribution management. The purpose of these tests is to provide transparency in the tracking of pharmaceuticals.
According to Yankap, Samsung Group IT announced pilot programs called “Disruptive Innovative Technologies for Drug Tracking” at the BioPharma Cold Chain Logistics session in Seoul, South Korea.
Samsung SDS officials also said they have received “several” requests for pilot projects from pharmaceutical companies, distributors and even unnamed South Korean medical institutions.
Lee Eun Young, Senior Researcher at Samsung SDS, said the pilot projects would last between three and six months, commenting:
“With the Drug Distribution Administration Service, you can comply with regulations and drive business innovation through product registration, real-time distribution tracking and automatic reporting functions.”
During the announcement, Samsung IT announced that the pilot projects will include an IoT-connected temperature log tracking service that will be implemented along with automatic processing of incoming and outgoing product records. This was chosen to “reduce the number of handwritten notes” and to validate returns and collections supported by the secure database.
If successful, these pilots will be commercialized following the adoption of domestic and foreign regulations next June. He told local media:
“The value of blockchain in healthcare is expected to grow from $ 176.80 million in 2018 to $ 5.61 billion in 2025, and by 2025 55% of medical blockchain solutions are expected to be used commercially.”
Daegu, the fourth largest city in South Korea, recently announced plans to allocate over $ 6 million to blockchain and AI education.