In the initial stages of blockchain, many companies and startups focused on its most famous application, bitcoin. But now the technology has developed and new applications have come into view and started innovating in the healthcare sector, which has become a promising way to fight counterfeit medicines. Blockpharma is a pharmaceutical company that opted for blockchain technology. The blockpharma solution interfaces with the information systems of supply chain players and assure traceability throughout the distribution chain. The firm was founded in 2016 and is situated in France, where it currently employs 1 to 10 individuals. And it is built in such a way that it offers a collaborative, ultra-secure, quality service and a simple interface for the users.
The company specializes in drug traceability, anti-counterfeiting solutions, tracking false medicines, and checking their authenticity. The platform was created in the year 2016 and is headquartered in France and was developed by crystal chain, Crystal Chain a company specializing in blockchain traceability. Blockpharma's application allows the customer to check the original products at the time of purchase and instantly verifies the authenticity of the medicine box. The blockchain replicates all the information on the various nodes of the network, which prevents the creation of single points of failure which is helpful to professionals in the pharmaceutical industry. Blockpharma wins the Digitech prize during the innovation days and presents its solution at the System X event.