ROCKVILLE, Md., Feb. 06, 2018 (GLOBE NEWSWIRE) -- Dinocrates Group today announced its CTO, Jim St. Clair, delivered the keynote for the Drug Information Association’s (DIA) Forum on Regulatory Submissions, Information, and Document Management (RSIDM) in Bethesda, Md. St. Clair provided an insider’s perspective about the ways in which blockchain is being piloted for use in the drug information supply chain.
Blockchain has the potential to dramatically improve elements of the pharmaceutical supply chain by helping pharma companies and distributors improve security and traceability to cut down on the spread of counterfeit drugs. With barcode-tagged drugs scanned and entered into secure digital blocks whenever they change hands, an ongoing real-time record can be viewed anytime by authorized parties throughout the supply chain.
St. Clair, who founded the Institute for Healthcare Financial Technology, presented to a packed crowd of regulatory specialists on the use of blockchain to create immutable records of drug information transactions. As part of the presentation, he explained how using blockchain distributed ledgers can help facilitate compliance with the International Standards framework for the Identification of Medicinal Products (IDMP).
St. Clair is leading the effort to establish one of the first blockchain solutions labs for the public and life sciences sectors. The lab, known as ALEXANDER, will host demonstrable solutions and concepts to showcase blockchain applications for industry processes.
About Dinocrates Group
Dinocrates is a boutique strategy and technology advisory firm that is headquartered in Rockville, MD and partners with clients from the public and private sectors to identify their highest-value opportunities, addresses their most critical challenges, and transform their enterprises.