FedEx Company Works With Blockchain Technology for Cancer Medicine Distribution

The FedEx Institute of Technology announced that it is partnering with the pharmacy services company Good Shepherd Pharmacy to develop a new blockchain based infrastructure. The main intention behind that is to help cancer patients get medications.

The information has been released by the Commercial Appeal on July the 6th. The FedEx Institute of Technology works as an organization that promotes interdisciplinary research in emerging and new technologies. The company and the University of Memphis launched the Institute in February this year so as to make the University of Memphis a hub for technological research and development.

Good Shepherd Pharmacy recognized blockchain as a means to retrieve unused medications from cancer patients. In this way, it is possible to pass them to disadvantaged patients that are not able to afford them. By using distributed ledger technology it will be possible to distribute medical information which is confidential.

About it, Good Shepherd Pharmacy’s CEO, Phil Baker, commented on the matter:

“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. The REMEDI project (REclaiming MEDicine) will divert valuable medication into the hands of patients who would not otherwise use it.”

At the same time, the institute will be hosting an event that will attract blockchain experts to discuss the solution proposed by the pharmacy. The event will also be held in tandem with Blockchain 901, an important professional organization that aims to expand the blockchain workforce in the area.

Back in May, FedEx CEO, Fred Smith, explained that Blockchain technology is the ‘next frontier that will be changing the supply chains around the world. FedEx joined in February, the Blockchain transport Alliance (BiTA).

This is not the first company adopting blockchain technology. The shipping industry is changing shape by using and embracing blockchain technology.

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