With a mission to create transparency and security in the pharmaceutical supply chain, FarmaChain aims to leverage blockchain technology. Each year, fake drugs cause roughly 1 million deaths, with an economic cost of $200 billion. By tracking each step of the drug supply chain in real-time, FarmaChain will minimize the risk of counterfeit drugs and lower operational costs.
FarmaChain will work with pharmacies, hospitals, and clinics to gather data for each medical product and store it on a decentralized ledger. The data gathered will include manufacturer information, production date, and logistics information, and will be easily accessible by pharmacies, hospitals, and patients.
FarmaChain aims to establish itself as a market leader by providing a secure, transparent, and efficient platform that instills confidence in the pharmaceutical supply chain. The company will leverage partnerships with existing pharmaceutical logistics providers, hospitals, and pharmacies to gain access to the fastest-growing markets in the industry. FarmaChain's solution will be offered on a subscription basis to pharmacies and hospitals, and the company will earn a commission on each transaction made on the platform.
FarmaChain's blockchain technology solution will revolutionize the pharmaceutical industry by improving drug supply chain transparency and reducing costs. The company has a compelling business strategy and revenue model and is well-positioned to capitalize on the growing pharmaceutical market.