A decentralised application to enhance traceability and security inside a pharmaceutical supply chain

Abstract

In modern supply chains, increasing complexity and the presence of multiple layers make it challenging to effectively track and trace products at each step. This issue is particularly critical in industries, such as the pharmaceutical one, where the consequences of compromised supply chains can be severe. Over the past years, there has been a significant rise in the number of counterfeit medications infiltrating the pharmaceutical supply chain. This alarming trend not only poses a financial threat to the industry but also jeopardises the well-being and safety of individuals relying on these medications. The challenges faced by the pharmaceutical industry in fighting counterfeit medications can be effectively reduced through the utilisation of blockchain technology. Blockchain offers a range of features, including transparency, security, and decentralisation, which can significantly enhance the pharmaceutical supply chain. This research proposes an implementation of smart contracts as the foundational building blocks for a decentralised application suited to the needs of a pharmaceutical company. In order to assess the effectiveness and feasibility of the proposed implementation, a quantitative evaluation is conducted across four different blockchains. This evaluation focuses on several key metrics to provide a comprehensive analysis of each blockchain performance, such as gas usage, monetary costs of the transaction and the level of decentralisation in each blockchain.