Cookies

Like most websites The Medicine Maker uses cookies. In order to deliver a personalized, responsive service and to improve the site, we remember and store information about how you use it. Learn more.
Manufacture Business Practice, Technology and Equipment, Trends & Forecasts

I’m a (Blockchain) Believer

Blockchain is beginning to make waves in the pharma industry, but many people still do not understand what it is. Also known as distributed ledger technology, blockchain is essentially a big record book; it acts as a decentralized, digital journal where transactions and data are recorded in a consensus across many computers or nodes. Importantly, this is done in such a way that ledger entries or records cannot be altered retroactively or individually to affect the consensus. As data or transactions are stored in “blocks” that are connected to each other, the term “blockchain” was born.

Blockchain technology is most commonly associated with cryptocurrencies, such as Bitcoin; in fact, blockchain was initially developed to serve as a transaction ledger for cryptocurrencies. In recent years, the sometimes high-profile nature of famous cryptocurrency investors, coupled with instability in cryptocurrency markets, has led to increasing media headlines about the topic, spreading awareness of blockchain technology. The financial services industry has already been experimenting with blockchain, but now other industries, including life sciences and the pharma industry, are beginning to take notice.

Read the full article now

Log in or register to read this article in full and gain access to The Medicine Maker’s entire content archive. It’s FREE and always will be!

Login if you already created an account

Or register now - it’s free and always will be!

You will benefit from:

  • Unlimited access to ALL articles
  • News, interviews & opinions from leading industry experts
  • Receive print (and PDF) copies of The Medicine Maker magazine
Register

Or Login as a Guest or via Social Media

About the Author

Richard Shute

Richard Shute is a Consultant at the Pistoia Alliance, UK.

Register to The Medicine Maker

Register to access our FREE online portfolio, request the magazine in print and manage your preferences.

You will benefit from:

  • Unlimited access to ALL articles
  • News, interviews & opinions from leading industry experts
  • Receive print (and PDF) copies of The Medicine Maker magazine

Register