Afghan government uses Fantom (FTM) to fight counterfeit medicines

Not only private companies, but also governments are becoming aware of the advantages of blockchain technology. According to a press release, the Afghan Ministry of Health will work with Fantom (FTM) to certify drugs using the crypto company's technology.

Fantom (FTM): Smart Medicine for Afghanistan

Like the Fantom Foundation in one Medium contribution announced, the signing ceremony for the latest project took place on May 18, 2020. The Smart Medicine pilot program for Afghanistan is being launched together with some companies such as Royal Star, Nabros Pharma, Bliss GVS and the Afghan Ministry of Health.

Royal Star is one of the largest distributors of pharmaceutical products in Afghanistan, according to the press release. Nabros Pharma is a privately owned pharmaceutical company in India. Bliss GV is also an Indian listed company on the National Stock Exchange with sales of more than $ 20 million USD.

Fantom technology is to be used for the traceability of products such as disinfectants:

Fantom will be involved in the tracking of four products, one of which is a new hand sanitizer recommended by the World Health Organization to combat COVID-19.

To ensure traceability, Fantom attaches labels to the products. These can be scanned by other companies that are also part of this collaboration in order to obtain all the necessary information. Each label contains information about the eleven following data points:

  1. Product name
  2. Batch no.
  3. Barcode no.
  4. Expiry date
  5. Production date
  6. FDA no.
  7. Producer's name
  8. Location of scan
  9. Status of scan
  10. T
  11. Date of scan

This data is stored on the Fantom Opera Chain. In this way, the manufacturer can guarantee the authenticity of the data. Because counterfeit medicines are a big problem in Afghanistan. In a 12-week investigation in 2017, more than 100 tons of counterfeit and expired medicines were discovered.

13,5% increase: FTM course reacts to the news

With a market cap of over $ 30 million USD, the Fanton Project FTM cryptocurrency is in the top 150 worldwide. The news of the cooperation with the Afghan government had a positive effect on the FTM course.

As a result of the news, the price has increased by almost 24% in the last 14 hours. And otherwise the cryptocurrency can develop very well. Over the past seven days, investors can look forward to growth of more than 115%.

Markus from Kryptokumpel.de
Photo credit: pixabay.com | CC0