Blockchain Technology as the Foundation for Transparent Pharmaceutical Supply Chains

Oskar Skubisz, Hubert Zarzycki, Malgorzata Dymyt and Marta Wincewicz-Bosy

European Research Studies Journal, 2024, vol. XXVII, issue 3, 1092-1107

Abstract: Purpose: Contemporary pharmaceutical supply chains face numerous challenges, including combating drug falsification and ensuring compliance with evolving legal regulations. This study aims to explore the potential of blockchain technology as a solution to these challenges. Design/Methodology/Approach: The study evaluates the application of blockchain technology, integrated with the Internet of Things (IoT), to enhance transparency and security in pharmaceutical logistics. Using simulations programmed in Python, the research investigates the effectiveness of the SHA-256 cryptographic algorithm in ensuring data integrity. The simulations involve scenarios of data manipulation, breaches in cold chain requirements, and attempts to introduce counterfeit products, demonstrating the blockchain system’s resilience and utility in identifying and mitigating risks. Findings: Blockchain technology, utilizing the SHA-256 algorithm, provides a decentralized and immutable system for tracking drug distribution processes. The integration with IoT enables real-time monitoring of environmental conditions, ensuring the safety and integrity of pharmaceutical products. Practical Implications: The proposed solution has practical implications in preventing counterfeiting, improving transparency, and maintaining the integrity of the cold chain in pharmaceutical logistics. Originality/Value: This study highlights an innovative approach to addressing significant challenges in the pharmaceutical industry by leveraging blockchain technology combined with IoT.

Keywords: Blockchain; Internet of Things; Pharmaceutical Supply Chain; Cold Chain; Drug Falsification. (search for similar items in EconPapers)
JEL-codes: C88 L14 O33 (search for similar items in EconPapers)
Date: 2024
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