FarmaTrust uses the blockchain to allow easy monitoring of drug products from the point of manufacture to the point of consumption. Our aim is to create a network between the pharmaceutical companies, logistic providers, hospitals, and pharmacies to have an integrated worldwide system so data can be trusted, shared, analysed, thereby saving lives and creating efficiencies. Incorporating AI and machine learning will also allow FarmaTrust to provide value added services.
What are the problems FarmaTrust solves?
Eliminating counterfeit drugs and save livesEliminate wasted drugs through expiry dates or environmental conditionsProvide transparency and visibility to governmental, NGOs and commercial operationsUtilise innovative technologies
What are the industry numbers?
Pharmaceutical industry is worth $1.2trn and expanding Pharmaceutical industry will be worth $1.5trn by 2021
Counterfeit Drugs industry is worth $200bn
Online pharmacy industry is worth $75bn
Supply Chain Management industry is $80bn
Pharmaceutical Cold Chain Logistics is $13.4bn
Pharmaceutical R & D $149.8bn
Pharma Returns Fraud case, in one instance $300m, in another $180m by one company
Expired drugs estimated at approx $6-10bn pa (USA)
Waste through storage $2bn (USA)
What is the FarmaTrust objective?
Create easily accessible data from Supply Chain Participants in the Pharmaceutical industry and thereby:
Save lives globally by eliminating counterfeit drugs;
Prevent price spikes through even global distribution of drugs;
Use predictive AI to ensure drugs are delivered “just in time”, to the right place;
Use machine learning to find greater efficiencies in SCM and routes to market;
Reduce corruption in the supply of drugs by ensuring drugs go where they are meant to (no diversions)
Use smart contracts to assist in automatic audit
Use smart contracts to make automatic tax payments
Use smart contracts to make automatic payments Provide data dashboards to Ministry of Health, Regulators and Pharmaceutical companies
How does it work?
FarmaTrust uses blockchain to track pharmaceutical drugs from the point of manufacture until the point of consumption by working with unique labeling or smart Rifid labeling or similar tags
FarmaTrust is technology neutral, so will work with any legacy system that the SCM participants my use
In certain countries where technology solutions are not available, then FarmaTrust provides smartphone Apps to collect data from customs authorities, logistics providers, pharmacies and hospitals.
The FTC Token
FT utility token has the primary use is to track the billions of medicinal packets in circulation throughout the world.The economy is designed upon a holder token, that mints the utility tokens per x period ( weekly ) with an growth amount per quarter to encourage holding.
Why is FarmaTrust Different?
It uses blockchain technology so has immutable records unlike Cloud based systems
It can be easily scaled, globally
It works with legacy systems (hardware and software neutral)
It works in parallel with existing systems – no additional costs
It is blockchain platform neutralIt works in both Emerging and Developed markets (it uses smartphone apps in Emerging markets)It provides services to companies as well as the consumer (consumer app)
It uses AI and machine learn to provide value added services to companies, governments and NGOs
The token does not stand for any form of ownership in FarmaTrust, not does it entitle the holder to any form of financial payment from the company.
60% Crowd Sale
10% FarmaTrust Team
10% Incentives and retention
% FarmaTrust operational
Token Fund usage:
40% Technology and Product Development
10% Security10% Marketing
10% Business Development
10% Audit and Compliance