FarmaTrust has created a platform which eliminates counterfeit drugs, creates efficiencies in the pharmaceutical industry, and allows the purchase of genuine drugs anywhere and online.
FarmaTrust is the most efficient global tracking system which provides security to the pharmaceutical companies, governments, regulators and the public, that counterfeit drugs do not enter the supply chain.
According to a recent PWC report (https://www.strategyand.pwc.com/reports/counterfeit-pharmaceuticals), up to 30% of all drugs in circulation are fake, leading to up to a million deaths annually, including 450,000 preventable deaths from malaria alone. Some of these deaths can be attributed directly to the toxic ingredients (such as rat poison, floor wax, industrial chemicals and the like) used to produce counterfeit drugs. Many more are a result of substandard drugs being sold to unsuspecting consumers, with little to no active ingredients present in drugs, which would otherwise have saved the consumers from preventable or curable diseases.
Although less developed markets have long been their stronghold, pharmaceutical counterfeiters are now using digital channels to penetrate developed countries, where traditional physical drug distribution networks are well protected. Exacerbating this issue, the PMMI’s 2016 Brand Protection and Product Traceability report found that “medicines bought over the internet that conceal their physical address are counterfeit in more than half of cases. The reasons that proliferate online sales are mainly due to consumers not being able to afford to visit a doctor or get medicine from a pharmacy.”
The mission of FarmaTrust is to become the provenance system of choice for the pharmaceutical supply chain, by providing an effective and global data verification and coordination layer which enables greater transparency, efficiency, and immutability for the recording of all activities across the supply chain – from the point of manufacture to the end consumer.
FarmaTrust has developed the blockchain-based Zoi Supply Chain Information Exchange platform to securely verify and track the supply of genuine products across a diverse network of pharmaceutical brands, manufacturers, distributors and supply chain operators, providing traceability and data services to governments, law enforcement agencies, NGOs, retailers and end consumers.
FarmaTrust’s Zoi provides a secure, interoperable and immutable source of data which allows for tracking of serialised products across an unbroken chain of custody throughout the supply chain. By integrating blockchain technology with big data machine learning and intelligent business logic, the Zoi system helps prevent fake and counterfeit medicines from easily entering the consumer market undetected. In addition, FarmaTrust can provide value-added services such as predictive supplies and the most efficient routes to market.
The Zoi platform is an innovative product tracking and reporting system designed to comply with industry track and trace compliance and reporting requirements. This is achieved through a secure RESTful API interface that integrates with existing supply chain management systems to securely share information about products moving through the supply chain.
Supply Chain Data Automation
FarmaTrust has developed a neutral, inter-operable, and secure data exchange system that is scalable, flexible and modular. The technical architecture uses RESTful API calls to coordinate data communication across existing Supply Chain Management Systems (SCMS) and the Zoi information exchange network. This enables both synchronous and asynchronous data connectivity across different organisations and handles the complex task of coordinating systems in the pharmaceutical supply chain, removing the need for system harmonisation.
Smart Contracts and Intelligent Processing
Leveraging the capabilities of the Ethereum blockchain network, FarmaTrust partners with pharmaceutical companies, government agencies and law enforcement to develop robust and intelligent data processes that meet the track and trace compliance requirements.
Data Security and Confidentiality
Communicating and sharing supply chain information may contain commercially sensitive or confidential product information. FarmaTrust encrypts all datasets sent across the network. In addition, zero-knowledge proof mechanisms ensure confidential and commercial data can be verified across different entities and regions without exposing the information.
Packet Level Tracking and Traceability
Meeting track and trace regulatory requirements is difficult in a globalised supply chain. The DSCSA enacted in the US requires more thorough traceability of prescription drugs within the supply chain compared to the FMD within the European Union. The FarmaTrust Compliant Product (CP) tracking token is specifically designed to digitally track genuine products that have been packed with unique Serialized Product Keys. This provides packet level tracking and traceability of genuine products through its supply chain lifecycle.
Using blockchain as a base, and providing the value-added services listed above, we anticipate the expansion of our services into machine learning. Currently, FarmaTrust plans to provide services which will allow pharmaceutical companies to have predictive supply level information thereby reducing waste through expired or non-use in a particular territory, improving ‘just in time’ supplier methodologies, and mitigating price spikes. We also anticipate using AI to find the most efficient routes to market.
Unsold FTT tokens from the TDE will be added to the Partnership pool or other pools as required by the management at their discretion
|Round||Token Price||Bonus||Min / Max Purchase||Soft Cap||Hard Cap|
Public sale —
01 Jun 12:00 UTC
15 Jun 12:00 UTC
|0.05 USD||No||-||7,000,000 USD||20,250,000 USD|
15 Feb 00:00 UTC
15 Mar 00:00 UTC
Private sale —
20% dicsountPrivate sale
40 % discount
Advisers sought and appointed, First drafts of whitepaper, Expansion of the product definition
Pre-TDE Completed, Complete Dashboard MVP
Launch Extension of MVP, Complete platform product design, Complete Zoi framework
Release critical featuresets of Dashboard, Finalize Platform Scalability Design
Launch and Publish Apps to App Store and Play Store, Complete API development