Partisia Blockchain and OriginAll to Stop Pharma Fraud in Africa: Details
Here’s how blockchain-based instruments can combat counterfeit drugs in Africa
Partisia Blockchain has entered into a partnership with Swiss-incorporated technology company OriginAll to accomplish a number of ambitious milestones in Africa.
Partisia Blockchain inks a partnership with OriginAll to fight fake drugs in Africa
According to the press release shared with U.Today, Partisia Blockchain will provide a technical basis for anti-counterfeit solutions by OriginAll, a start-up that addresses authenticity verification mechanisms.
As of 2021, as per the World Health Organization, in African countries, 70% of all drugs are fake. That said, the net counterfeit drug market might exceed $4 trillion in revenue.
The two teams created OriginAll Healthies, a unique tokenized platform that tracks transactions, charity remittances and supply chain logistics.
With OriginAll Healthies, it is easy to track whether this or that medicine was purchased from an authorized reseller. Each transaction utilizes a Unique Identifier (UID) attributed to this or that legitimate product.
Blockchain helps to achieve United Nations Sustainable Development Goals
Also, Partisia Blockchain will provide unbanked societies in Africa with a reliable, transparent and anonymous remittances system. The technology will be implemented in collaboration with OriginAll’s partner, the African Continental Free Trade Agreement (AfCFTA) Secretariat.
Kurt Nielsen, Partisia Blockchain president, is fascinated by the long-term vision of this collaboration and its potential effects for people’s well-being in Africa:
OriginAll is an ideal example of what we want to achieve as a project and with our focus on United Nations Sustainable Development Goals (SDG). Partisia Blockchain enables the combined use of public transparent blockchain and privacy-preserving use of confidential data required for the next generation decentralized healthcare solutions. With OriginAll we use this technology to protect the individual patient as well as to enable competing companies to collaborate with sensitive corporate data — both are needed to fight counterfeit medicine.
As covered by U.Today previously, recently Partisia Blockchain, a unique MPC-powered distributed ledger platform, onboarded FRAX stablecoin by Frax Finance.