Fantom adopted in Afghanistan to combat counterfeit drugs
We want to congratulate Fantom for its smart medicine pilot project to track pharmaceutical products in Afghanistan.
The Afghan Ministry of Health and three pharmaceutical companies chose Fantom technology and blockchain to ensure the authenticity of medical products and battle the spread of counterfeit drugs.
“Fantom, with the endorsement of the Afghanistan Ministry of Health, has partnered with Royal Star, one of the biggest pharmaceutical distributors in Afghanistan; Nabros Pharma, a privately-owned pharmaceutical producer in India; and Bliss GVS, a public company listed on the National Stock Exchange of India and with revenues exceeding USD$120m. Fantom will be involved in the tracking of four products, one of which is a new hand sanitizer endorsed by the World Health Organization to help combat COVID-19.”
Counterfeit drugs are an enormous problem, endangering lives not only in Afghanistan but worldwide. EUIPO statistics estimate the pharmaceutical black market to be worth around 4 billion USD per year.
In 2017, a 12-week campaign against counterfeit drugs in Afghanistan found “100 tons of expired, counterfeit and substandard medicine had been seized” across the country.
To keep people safe from counterfeit drugs, 80,000 pharmaceuticals will be tracked on Fantom’s public, permissionless blockchain in the first phase.
All validators and stakers on Fantom’s mainnet “Opera” help to validate the authenticity of these products.
We are proud to be a part of that effort.
If you want to participate in staking on Fantom, visit https://ablock.io/fantom for all the info you need to get started. 57% of the FTM supply is already locked up for staking.
Check out the official announcement : https://fantom.foundation/blog/fantom-announces-partnership-with-royal-star-nabros-pharma-bliss-gvs-and-the-ministry-of-health-for-the-certification-of-pharmaceuticals-across-afghanistan/
More about the use case: https://www.youtube.com/watch?reload=9&v=XElFmjTld1I
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