HashCash’s Post Pandemic Plans to Streamline the Medical Supply Chain with Blockchain

HashCash Consultants plans to streamline the medical provide chain with blockchain by forming a consortium of key gamers inside the trade for a fortified Healthcare post-pandemic.

PALO ALTO, Calif., Might 9, 2020 /PRNewswire-PRWeb/ — HashCash Consultants is planning to affix fingers with pharma firms and medical items producers to streamline their medical provide chain by blockchain know-how. The California based mostly agency is in talks with a number of firms to type a consortium with the united intention to deal with the present provide chain points and discover a blockchain answer to the identical.

“The COVID-19 pandemic has uncovered main flaws within the present international provide chains, particularly with the important medical items, which has made us extra susceptible to the virus. The concept of forming a consortium with the most important gamers inside the medical provide chain, initiated from the necessity for a clear, fast-track, and arranged system for the post-pandemic days. This outbreak has proven us the ache areas, and now it falls upon us to repair these, to be higher ready for comparable occurrences sooner or later”, commented Raj Chowdhury, CEO, HashCash Consultants.

He additional added, “The consortium for a blockchain-based medical provide chain shall be one of many primary focus areas of HashCash put up lockdown. Our staff whereas working remotely is mapping the methods to create a blueprint of this initiative to streamline the post-pandemic healthcare by a unified effort.”

Healthcare and Medical Provide Ache Factors:

Whereas it’s true that healthcare has been focussing on Blockchain for some time now, nevertheless, a lot of the eye was given to the administration of affected person information and medical information. The important medical provide chain was nonetheless out of that periphery when the COVID-19 pandemic hit us.

Nations geared up with essentially the most superior healthcare methods suffered main setbacks in containing the state of affairs as a result of depletion of medical provides and assets. Inadequate provide of ventilators, check kits, private protecting tools, and so on. rendered us helpless. What made issues worse was the damaged down and fragmented provide chain administration.

The present provide chain methods lack transparency, belief, and integrity. Contemplating a pandemic state of affairs, the place time is of the essence, the present course of is just too advanced and prolonged.

Involvement of a number of third-party intermediaries at completely different provide chain junctures, sluggish and untraceable cost processes, main dependency on human involvement and substantial documentation, all have contributed within the medical provide debacle in the course of the pandemic. Such a scarcity of trusted coordination between the individuals is what blockchain goals to deal with.

Blockchain Adoption Makes for an Organized Supply Chain:

Blockchain addresses every of the ache areas by a well-coordinated and unified strategy bringing all of the gamers in a provide chain underneath one roof just about. The DLT community acts as an open platform for collaborations between the individuals, whereas the shared immutable ledger provides transparency to the transaction information.

Every thing that will get entered into the ledger will be tracked in real-time and any adjustments will want a consensus from the individuals making a bond of belief. The execution of insurance policies occurs by sensible contracts which might be totally automated and will get applied as quickly as all the necessities of met, lowering the necessity for human involvement and paperwork.

HashCash needs to type a consortium with prescribed drugs, medical items producers, distributors and different key gamers to supply:

1. A blockchain mechanism for healthcare amenities to instantly replace the involved organizations of the depletion in medical assets
2. A method to carry credibility and enhanced high quality management in manufacturing items and be sure that they meet the specs of the medical tools
3. Transparency by blockchain-based cost methods, in order that the transactions develop into prompt and clear to speed up the availability course of
4. Sensible contracts to seamlessly execute the in any other case advanced certification and compliances
5. Actual-time monitoring of the provides when in transit
6. Traceability to make sure optimum circumstances regarding temperature and humidity are maintained throughout transit and storage to stop harm of medicine and different items

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