Counterfeit

First internet hospital will be launched in China in early 2021. The institution is going to apply blockchain technology and provide internet medical service using WeChat app.

As the COVID-19 pandemic spreads around the world, the demand for medical supplies such as test kits, reagents, masks etc. skyrockets. In its turn, the growing deficiency has pushed a growth in counterfeit products.

The government of Uganda wants to apply blockchain to curbing the distribution and sale of counterfeit drugs in the country. The announcement was made by the Country’s president on twitter mentioning the use of the tech in pharmaceuticals in Uganda. The government is keen to find a solution for the rampant counterfeiting in the country through innovations.

A pilot blockchain project set to provide products of Italian textile industry with a traceability feature, which will defend the Italian brand, has been presented by the Ministry of Economic Development (MISE) on March 13. The fintech initiative is planned to become a role model for all other industries manufacturing Made in Italy products.

President Yoweri Kaguta Museveni welcomed the use of Blockchain Technology with the aim of boosting the economy in Uganda and the whole of the African continent.

Pharmaceutical counterfeiting is an age old vice, that seems to defy traditional methods of curbing it due to several factors involved. Using the Blockchain to stop the creation of fake drugs is clearly not an easy process, but it is achievable.