Fantom, a fairly new DAG-based cryptocurrency startup, has announced its partnership with the Afghan Ministry of Health and some Afghan-based pharma companies. Due to this partnership, Fantom has launched what they call the Smart Medicine pilot project.
The problem with the supply chain has become a lifelong problem in Afghanistan. There are also huge issues with pharmaceutical drugs’ supply chains in the country with fake products getting distributed and mixed along the way.
Through this partnership, the Afghan government is hoping to be able to verify the originality of the medicines and also track fake drugs that get mixed in the supply chain. Big companies are also included in this Smart Medicine project, such as Bliss GVS, Royal Star, and Nabros Pharma.
For so many years, the blockchain and distributed ledger technology (DLT) have been touted as the ultimate solution to fight counterfeit products and to modernize the supply chain. VeChain, another cryptocurrency project, has been teaming up with many different corporations and government entities to help track counterfeits in various supply chains. Some private or semi-private blockchain solutions like IBM Blockchain are also partnering with traditional companies to tackle the same issues.
Fantom is hoping to be able to gain much wider mass adoption in the future if it successfully helps the Afghan government with the pharmaceutical drugs’ supply chain issues.
Source: CoinDesk
