FedEx Institute of Technology has recently made an announcement about partnering with Good Shepherd Pharmacy company, which provides pharmacy services, in order to develop a new platform for medicine distribution that will be based on blockchain technology. The aim of the new partnership is to help the patients get cancer medications via the new developed platform.
FedEx Institute of Technology was created as an organisation that aims to be a promoter of interdisciplinary research concentrated on emerging technologies that operates in cooperation with the research infrastructure of the University of Memphis.
Good Shepherd Pharmacy, which is also based in Memphis announced to believe that blockchain technology can be an important tool via which it will be possible to utilize unused medications by cancer patients for economically disadvantaged patients who may not be able to afford those medications on a regular basis. As promised, a secure and immutable ledger that is to be built as a result of the recent partnership, would allow a safe and confidential distribution of medical information.
CEO of Good Shepherd Pharmacy, Phil Baker made an official statement commenting on the recent initiative. In his message Baker said: “in Tennessee alone, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year. Blockchain is the solution for that problem. The REMEDI project (REclaiming MEDicine) will divert valuable medication into the hands of patients who would not otherwise use it”.
The announcement also informed that the Institute will soon be organizing a special event where the field experts and interested individuals will be able to share ideas and discuss the recent initiative by the companies. This event will be organized with a professional organization called Blockchain 901 that aims expanding tech approach and usage in the area of Memphis.