Counterfeit Medicine Detection using Blockchain
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Abstract
The healthcare industry has grappled with the challenge of monitoring genuine medicines while counterfeit drugs continue to proliferate, posing significant risks to patient safety. These fraudulent pharmaceuticals not only have detri- mental effects on health but also result in substantial financial losses, with reports indicating annual losses of approximately 200 billion dollars for US pharmaceutical companies. Particu- larly concerning is the World Health Organization’s revelation that in underdeveloped nations, one in every ten medicines consumed by patients is counterfeit and of low quality. To address this critical issue, we use blockchain technology to track the supply chain, from the manufacturing stage to the end- user. Leveraging blockchain technology, our system enhances reliability, transparency, and security in healthcare data. This paper focuses on bolstering transaction security, safeguarding medicine quality, and fortifying data protection through the utilization of blockchain technology.
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