What is Blockchain?
A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data.
Some Blockchain networks are public and anonymous. An example is the Blockchain framework used for Bitcoin, anyone can join and see any transaction that happens on those networks. These networks typically require resource-intensive computations to help prevent fraudulent transactions.
At STS, we design our products using Private Blockchains. Permitted users know exactly with whom they are transacting, which will allow the data to be accessed explicitly between the parties who have permission for it. Similar to what happens between physical business partners today. Participants also determine what data is seen by whom, thereby providing information on a need-to-know basis. Smart contracts also run on our blockchain, allowing business logic to help solve disputes, automatically execute contracts, and build trust.
At Sarafu Technology Solutions Ltd. (STS), we believe Blockchain technology is the next big thing capable of transforming the way we live, transact with our peers and our local economies. A holistic ecosystem, blockchain enables businesses to reach their goals around compliance, security, and traceability.
A blockchain solution is not just about technology, it’s about solving business problems that have been insolvable before due to the inability of the ecosystem to share information in a transparent, immutable and trusted manner. Unlike other systems of record, blockchain technology provides a trusted record of data.IBM
How does Blockchain work?
By eliminating the middleman and intermediaries in the supply chain the risks of fraud and product duplication/counterfeiting are eliminated while saving money and time also.
Blockchain augments your current B2B integration systems with a shared visibility overlayIBM
is STS Pharma Track and Trace Blockchain solution?
STS’s Pharma Track and Trace Blockchain solution benefit all network participants with a secure, safer, smarter, and more sustainable health ecosystem. The digitization of transactions and data provides a more efficient way of working across the pharma supply chain, including suppliers, manufacturers, intermediaries (hospitals, pharmacies etc.), shippers, regulators, and patients.
Our solution provides authorized users with immediate access to actionable pharma supply chain data, throughout the chain, from source to the final patient. With its geo-location capabilities, the complete history and current location of any individual medication, as well as its accompanying information such as certifications, test data, and temperature data, are readily available in seconds once uploaded onto the blockchain.
The software-as-a-service (SaaS) solution works to ensure that trust enables, rather than hinders, the expanding pharma supply chain. With capabilities for safer mediation, longer shelf lives, reduced waste, faster traceability, and better access to shared information, STS empowers you to meet the new standard for transparency and trust.
How does STS ensure that data is usable?
STS’s Pharma Track and Trace Blockchain solution have been built leveraging both business and technology standards. To ensure maximum value and access to all participants, our solution leverages standards already implemented across the Pharma industry (i.e. Falsified Medicines Directive (FMD) and open-source technology such as Hyperledger Fabric. Interoperability on both business and technology levels enable its participants to exchange information across the pharma ecosystem. We work with industry reputable leaders in the Pharma space (e.g., Merck,
How secure is our solution?
STS’s Pharma Track and Trace Blockchain solution
- Always-on, high availability with seamless software and blockchain network updates
- Hardened security stack with no privileged access, which blocks malware
- 24/7/365 STS Blockchain Support
- Built-in blockchain monitoring for full network visibility
- Powered by proven Hyperledger Fabric
Who owns the data?
You remain in full control.
Data uploaded by you
How do I invite others to join?
All interested participants in the pharma ecosystem can join STS’s Pharma Track and Trace Blockchain solution. Contact us! You can connect to your partners and define what information is shared when you define your transactions. STS’s Pharma Track and Trace Blockchain solution
What value do you get from using STS’s Pharma Track and Trace Blockchain solution?
A complete insight of genuine medication in a matter of seconds, where data is available.
Manufacturer: Revenue loss as a result of falsified medication is history
Intermediaries: You buy from only genuine sources. You are in compliance with the FMD directives.
Patients: You can have
Additional business value and savings depend on company size, brand values and number and category of products implemented.
What technology do I need?
Being a Software as a Service solution (SaaS), a browser and internet access is all you need to run our applications. It works on both desktop and mobile.
We are also developing APIs for data upload and integration with your ERP system. Get in touch!