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Application and prospect of blockchain and smart contract technology in pharmaceutical supply chain

  • Chunguang Zhang
  • , Lei Pan
  • , Xu Zhang
  • , Xueqing Shen
  • , Lun Zhang
  • , Bohua Zhang
  • , Ruijun Liu
  • State Grid Information & Telecommunication Group
  • State Grid Information and Telecommunication Branch
  • Beijing Technology and Business University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

The advent of blockchain technology has transformed traditional business processes from centralized to decentralized. By eliminating the unnecessary intervention of middlemen, it can reduce the overall cost of patient medication by turning the drug supply chain entirely into a point-to-point decentralized business. This paper presents a reliable and encouraging P2P drug trading block chain technology and four related smart contracts. These contracts include consumer contracts and the supply, bidding and trading of drugs, which have been deployed on the Ethereum blockchain for the decentralized trading of drugs. We will use the Approach of Real cost descending (RCD) to achieve incentive transactions for suppliers and patients. This method provides P2P transactions and ensures the safety and transparency of drug data, as well as the anonymity of users in the transaction process. Finally, according to the requirements of Good Supplying Practice(GSP), the effectiveness of the proposed model is evaluated and analyzed.

Original languageEnglish
Title of host publicationInternational Symposium on Artificial Intelligence and Robotics 2021
EditorsHuimin Lu, Shenglin Mu, Shota Nakashima
PublisherSPIE
ISBN (Electronic)9781510646124
DOIs
StatePublished - 2021
Externally publishedYes
EventInternational Symposium on Artificial Intelligence and Robotics 2021 - Fukuoka, Japan
Duration: 21 Aug 2021 → 27 Aug 2021

Publication series

NameProceedings of SPIE - The International Society for Optical Engineering
Volume11884
ISSN (Print)0277-786X
ISSN (Electronic)1996-756X

Conference

ConferenceInternational Symposium on Artificial Intelligence and Robotics 2021
Country/TerritoryJapan
CityFukuoka
Period21/08/21 → 27/08/21

Keywords

  • Block chain
  • Ethereum
  • Smart contracts
  • The supply chain

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