Application and prospect of blockchain and smart contract technology in pharmaceutical supply chain

Chunguang Zhang; Lei Pan; Xu Zhang; Xueqing Shen; Lun Zhang; Bohua Zhang; Ruijun Liu

doi:10.1117/12.2601888

28 October 2021 Application and prospect of blockchain and smart contract technology in pharmaceutical supply chain

Chunguang Zhang, Lei Pan, Xu Zhang, Xueqing Shen, Lun Zhang, Bohua Zhang, Ruijun Liu

Proceedings Volume 11884, International Symposium on Artificial Intelligence and Robotics 2021; 118840C (2021) https://doi.org/10.1117/12.2601888
Event: International Symposium on Artificial Intelligence and Robotics 2021, 2021, Fukuoka, Japan

Abstract

The advent of blockchain technology has transformed traditional business processes from centralized to decentralized. By eliminating the unnecessary intervention of middlemen, it can reduce the overall cost of patient medication by turning the drug supply chain entirely into a point-to-point decentralized business. This paper presents a reliable and encouraging P2P drug trading block chain technology and four related smart contracts. These contracts include consumer contracts and the supply, bidding and trading of drugs, which have been deployed on the Ethereum blockchain for the decentralized trading of drugs. We will use the Approach of Real cost descending (RCD) to achieve incentive transactions for suppliers and patients. This method provides P2P transactions and ensures the safety and transparency of drug data, as well as the anonymity of users in the transaction process. Finally, according to the requirements of Good Supplying Practice(GSP), the effectiveness of the proposed model is evaluated and analyzed.

Citation Download Citation

Chunguang Zhang, Lei Pan, Xu Zhang, Xueqing Shen, Lun Zhang, Bohua Zhang, and Ruijun Liu "Application and prospect of blockchain and smart contract technology in pharmaceutical supply chain", Proc. SPIE 11884, International Symposium on Artificial Intelligence and Robotics 2021, 118840C (28 October 2021); https://doi.org/10.1117/12.2601888

ACCESS THE FULL ARTICLE

INSTITUTIONAL
Select your institution to access the SPIE Digital Library.

SELECT YOUR INSTITUTION

PERSONAL
Sign in with your SPIE account to access your personal subscriptions or to use specific features such as save to my library, sign up for alerts, save searches, etc.

PERSONAL SIGN IN

No SPIE Account? Create one

PURCHASE THIS CONTENT

SUBSCRIBE TO DIGITAL LIBRARY

50 downloads per 1-year subscription

Members: $195

Non-members: $335 ADD TO CART

25 downloads per 1 - year subscription

Members: $145

Non-members: $250 ADD TO CART

PURCHASE SINGLE ARTICLE

Includes PDF, HTML & Video, when available