The UK based startup, MediConnect, has unveiled plans to make the country’s medicine market safer for patients by developing a blockchain powered platform based on Stratis to address the issue of over-prescribing of medication online. MediConnect also anticipates that its solution will improve patient outcomes, prevent drug misuse, establish where medicines have come from, and ensure that product recalls can happen quickly.
MediConnect To Use Blockchain To Curb Rise In Overuse Of Prescription Medication
The overuse of prescription medication is on the increase because there are no control mechanisms in place to prevent patients buying their medication from multiple sources. Surprisingly, it is currently possible to be prescribed the same medicine from one or more online pharmacies, as well as a regular NHS doctor.
Dexter Blackstock, MediConnect Director said: “We need to influence change with regulators and our vision is that one day it will be mandatory for all pharmacies and prescribers to be using a single distributed ledger to prevent the misuse, overprescribing and potential dependency of prescription drugs”.
MediConnect trust that this blockchain solution will also “reduce addiction, provide traceability of drugs from manufacturers, wholesalers, prescribers and pharmacies all the way through to patients. This will enable the removal of false medicines and the easy recall of drugs within the pharma system”.
MediConnect To Be Powered By Stratis Blockchain
Initially, the company’s platform is going to be used by two established online pharmacies that already deal with between 30,000 to 50,000 prescriptions per month. The blockchain will be powered by Stratis, who are building services tailored to the needs of pharmacies.
“This is an exciting time for Stratis,” said Chris Trew, CEO and founder of Stratis Group Ltd. “MediConnect will become another customer of Stratis, utilizing our consultancy services to build and deliver a bespoke blockchain solution set to revolutionise the medical industry”.
A token offering is under way. The private sale ends on February 6, with the public sale running from February 20 to April 3.