{"id":6714,"date":"2020-09-02T13:48:05","date_gmt":"2020-09-02T12:48:05","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=6714"},"modified":"2020-09-04T13:16:41","modified_gmt":"2020-09-04T12:16:41","slug":"pharmaledger-innovative-blockchain-technologies-for-healthcare","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/pharmaledger-innovative-blockchain-technologies-for-healthcare\/6714\/","title":{"rendered":"PharmaLedger \u2013 innovative blockchain technologies for healthcare"},"content":{"rendered":"

The PharmaLedger Project\u2019s leaders explain why blockchain technologies are needed to meet some of the challenges faced by the healthcare sector and how the project\u2019s innovative platform can help.<\/h2>\n

The pharmaceutical and healthcare industries are complex. These industries need the co-operation of multiple stakeholders to ensure compliance in highly regulated environments that ultimately seek to ensure patients\u2019 safety and health. This complexity, as well as a lack of transparency, co-ordination, and trust are significant challenges in this context.<\/p>\n

At PharmaLedger<\/a>, we aim to leverage blockchain as a tool to meet these challenges, as this emerging technology facilitates distributed public ledgers holding distributed and immutable data in a secure and encrypted manner, ensuring that transactions cannot be altered. By its nature, blockchain can bring important benefits in healthcare domain. For example, decentralisation makes it possible to implement distributed healthcare applications that do not rely on a centralised authority that validates transactions. This means that the data records (or \u2018blocks\u2019) are stored among multiple servers through the stakeholders\u2019 nodes in the blockchain network<\/a>, allowing stakeholders to have access to the health records without an entity or organisation having the role of a central authority that governs over the global health data. Moreover, immutability means data records cannot be changed or tampered with. These characteristics enable transparency and traceability and thus related valuable benefits such as allowing healthcare stakeholders, and patients in particular, to know how their data is used, by whom, when, and how. Furthermore, for pharmaceutical companies, there is the potential to enhance security, integrity, data provenance, and the functionality of supply chains because, at its core, blockchain technology is transparent, immutable, and auditable.<\/p>\n

At PharmaLedger, we are developing a blockchain-based platform that will enable trusted and privacy-enabled digital collaboration through knowledge sharing among the healthcare stakeholders, supporting highly compliant and interoperable data exchange among members of the pharmaceutical and healthcare value chain.<\/p>\n

The PharmaLedger platform builds on the key pillars of blockchain (decentralisation, transparency, and immutability). It provides a set of services to ensure regulatory, legal, and data privacy compliance, and will be validated through a set of use cases in three reference implementations: supply chain, clinical trials, and health data. For us, the use of blockchain to build this privacy-enabled and efficient foundation will help a stronger and more trustworthy healthcare ecosystem to emerge.<\/p>\n

Early adoption<\/h3>\n

Moreover, the PharmaLedger consortium drives the early adoption of a disruptive blockchain-based digitisation technology, with key industry participants joining forces to build a comprehensive solution for improving the quality of healthcare. A governance framework is being developed for this blockchain-based pharmaceutical and healthcare ecosystem which shall allow stakeholders to benefit from the adoption of PharmaLedger and reap enhanced efficiency, de-risking, cost reduction, and simplified compliance benefits.<\/p>\n

To bring this platform to life, PharmaLedger focuses on validating the platform on a set of use cases from three reference implementations domains: supply chain, clinical trials, and health data. These early implementations throughout each reference domain provide evidence to create value and trust to unlock the potential of the digital healthcare ecosystem, especially to patients.<\/p>\n

PharmaLedger is a three-year project which started in January 2020. It receives funding from the Innovative Medicines Initiative 2 Joint Undertaking (JU) under grant agreement No 853992. This JU receives support from the European Union\u2019s Horizon 2020 research and innovation programme and EFPIA. PharmaLedger is driven by a private-public consortium with 29 partners (12 global pharmaceutical companies and 17 public and private entities).<\/p>\n

From our perspective, PharmaLedger\u2019s reference implementations will go beyond the typical hype and bring:<\/p>\n