The development of a new pharmaceutical blockchain project has been announced. The to-be infrastructure will be the collaboratory work of the FedEx Institute of Technology and Good Shepherd Pharmacy that will distribute to cancer patients much-needed medications.
The FedEx Institute of Technology was established earlier this year to work together with the University of Memphis in order to bring awareness to interdisciplinary research of technologies that are only appearing. Good Shepherd Pharmacy, also located in Memphis, is a 'non-profit membership pharmacy for the uninsured', and they have allegedly found a way to use blockchain technology to redistribute unused cancer medications to patients who do not have the financial opportunity to purchase it routinely. Phil Baker, CEO of Good Shepherd Pharmacy, stated "In Tennessee alone, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year. Blockchain is the solution for that problem." A ledger both protected and unchangeable would be the solution to privately and discreetly distribute medical information and later medication.
An event will be hosted in order to attract both experts and enthusiasts of blockchain technology to consider the proposition.