US Researchers build Blockchain Protocol to prevent counterfeit pharmaceutical sales

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Portland State University (PSU) researchers have produced a blockchain protocol to stop bogus pharmaceuticals from filling the current market, according to a press release published on April 15.

PSU researcher and professor of computer science in the Maseeh College of Engineering and Computer Science, Nirupama Bulusu, in cooperation with PSU computer science doctoral student Naif Alzahrani said: “A new product anti-counterfeiting blockchain using a truly decentralized dynamic consensus protocol.”

In the newspaper, the investigators explained a new blockchain-based technique to record trades aimed to ease the fight against fake pharmaceuticals byproduct assessing and decentralization. The suggested alternative represents a blockchain-based series of data, with just users owning a particular key to get or alter the saved information.

Bulusu reportedly said that the choice to produce the protocol was a result of how the pharmaceutical catastrophe hurts the most vulnerable foreign inhabitants. “This protocol could potentially disrupt and disable illicit supply networks,” Bulusu said.

Their protocol can, in theory, be applied to some supply chain — large or little.

Niche companies concerned about signature violations, as an instance, could benefit in the protocol. Bulusu said company owners may even confirm their merchandise history and monitor things step-by-step on their mobile phone.

That is one advantage of blockchain, she included is that the info is more difficult to fake and change, which makes it simpler to confirm validity.

Also Read: BitMEX Research says Bitcoin SV Saw Overall Losses of $2.2 million Since Fork

Blockchain technology was adopted as a way to fight counterfeiting in a variety of businesses. Lately, IBM and information storage company Seagate declared a joint effort to fight bogus hard drives employing blockchain technology. The job will reportedly utilize IBM's Blockchain Platform to assist producers, integrators, and business partners better hammering the provenance of hard disk drives.

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