US Researchers build Blockchain Protocol to prevent counterfeit pharmaceutical sales

- Advertisement -

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.

Source

- Ad -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
- Advertisement -

The Investment of the Decade by Teeka Tiwari: What Is It?

Teeka Tiwari's Investment of the Decade is a new special broadcast of his highly popularly, wildly successful Palm Beach Letter newsletter research program. While there...

Top 11 Best Financial Investment Email Newsletters of 2020

Financial investment newsletters provide stock tips and analysis. A good financial investment newsletter helps you understand the market. It alerts you to upcoming trends before...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Best Blockchain Stocks: Top Blockchain Companies for Investors in 2020

Ten years ago, no one had heard of “blockchain”. Over the last five years, however, blockchain has been one of the biggest trends in...

Latest News & Updates

Timed Stocks: Accelerated by Jeff Brown: Latest Intel Shared

Looking to make money off of investments? Not sure where to begin? To pinpoint where the money lies, investor Jeff Brown put together an...

Dave Forest’s Strategic Investor: Lithium Geo-Tech Fuel Tesla Deal Report

With the coronavirus pandemic currently ravaging the global economy mercilessly, more and more people are looking to make smarter investment choices so that they...

Project 303: The Extra Income Project by Andrew Keene

The Great Recession in 2008 cast a dark shadow over the financial portfolios of the whole country. With few people left untouched, it took...

True Wealth Real Estate by Dr. Steve Sjuggerud: Newest Breakthrough Service

In a recent presentation, Dr. Sjuggerud unveiled his plans for a new project poised to help investors get hold of assets with profit-generating potential....

Every investment is risky and carries a real chance at losing or gaining. None of the information here is to be considered investment advice. Seek a professional investment advisor consultation before making any investment.

No GainBitcoin contributor is licensed under securities laws and is not qualified to give personal investment advice. Read the about page and all accompanying policies for more details.

More Articles Like This

Best Blockchain Stocks: Top Blockchain Companies for Investors in 2020

Ten years ago, no one had heard of “blockchain”. Over the last five years, however, blockchain has been one of the biggest trends in...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Teeka Tiwari's The Final 5: 5 Coins to $5 Million Jetinar Details

Teeka Tiwari's The Final 5: 5 Coins to $5 Million Jetinar Palm Beach Research Group's Teeka Tiwari is hosting his 5 Coins to $5 Million:...

The Investment of the Decade by Teeka Tiwari: What Is It?

Teeka Tiwari's Investment of the Decade is a new special broadcast of his highly popularly, wildly successful Palm Beach Letter newsletter research program. While there...