Moreover, it is also considered to be one of the highest profit-generating industries in the arena of commercial sectors. But, still, this industry is struggling with various problems like counterfeited drugs, inefficient supply chain, unwanted business practices, etc. Farma bitcoin wiki introducing this solution, the company wants to make the world safe, healthy, and more economically sound for every individual.
The Zoi solution is easy to use and will prove highly beneficial in eliminating the burden on the pharma industry. Be beneficial in identifying the gaps between different compliance regimes, recover the lost cost via counterfeits. Protect customers and brands by eliminating the fake drugs and pharmaceutical found in their supply chain. The platform will also develop a strong network for contract manufacturers, logistics, pharma brands, suppliers, distributors, wholesaler, etc. The platform is using utility tokens called FTT which will be utilized to track the records of drugs and different items that go through the platform. How does the Zoi Platform work? As we can see, the problems of the pharmaceutical industry are rising at great speed.
The Zoi platform has therefore taken the initiative to rectify these issues by combining advanced blockchain technology and AI technology. The platform will track pharmaceuticals with the help of the supply chain which is connected via a digital system to pharmaceuticals running in the market. When anyone adds the digital reference or physical copy of any drug in the supply chain, it cannot be easily erased or duplicated. This will allow accurate tracking of the product via the supply chain. Even small companies who don’t have such resources such as small non-chain pharmacies can also use this platform.
This will allow the supply chain to access the blockchain and pedigree the drug packets. If any issues arise with the packet, then the platform will flag it as a suspicious item. This will allow wallet creation and KYC to track the FTT tokens. During registration, the platform’s KYC process will check the authenticity of the identity and background that meets with Eth compliance and regulatory requirements. With this, any individual can easily connect with the ecosystem through the platform endpoints that will store JSON data and respond with JSON data.
The minimum amount of data is mandatory to call this technical layer. After getting minimum data from the business layer, micro services of the platform will enhance the data and arrange proper calls to the technical components in order to form its foundation. This layer comprises the packet flow of smart contracts and AI agents’ process. This layer contains core processing components for building the platform foundation. The data collected from different sources such as social, mobile app, blockchain, etc. The API of the technical layer will communicate with the different segments of this layer to resolve the problems.
All the monitoring processes related to application, business, and infrastructure will take place in this layer to ensure smooth processing of the platform and business. Security measures are also considered at every level. The system creates data for users and the general public. Efficiently work with hardware and software. It’s a robust platform that works all worldwide. Designed with cutting-edge technology to offer a future-proof scalable system.
It complies with different international regulatory regimes. AI technology delivers supplies at the right time in the right place to the right patients. System offers secure and safe data to cooperates and the public. Saves lives by offering a pedigree of the drug and maintains trust in the manufacturer. No need to depend on an infrastructure, as there is no central database. Offers record integrity so that it cannot be corrupted. Improvises efficiencies with Artificial intelligence in the supply chain.
After that they will track the record via the supply cycle by utilizing the current supply chain logistics. In this way, the platform will utilize such data in making the supply chain more efficient. It offers an easy way to check whether a drug is genuine or not. After sending the message, they will instantly receive the message to confirm whether the drugs are genuine or not. The same process will be applicable while purchasing drugs online.
When customers receive the shipment, they can SMS or scan the label of the product to check its authentication. Every year, hundreds of patients die due to the use of fake or counterfeit drugs. This crime has infiltrated the pharmaceutical industry because high profits being generated. It is found that the maximum numbers of medicines sold in developing countries are counterfeit. The estimated value of counterfeit drug in the market is USD200 billion annually.