FedEx Institute to Distribute Cancer Medications Using Blockchain

The FedEx Institute of Technology has teamed up with Good Shepherd Pharmacy to design a blockchain-based platform to give cancer patients access to medications.

The announcement was made on 6 July by Commercial Appeal. The FedEx Institute of Technology is known as a pioneering institution that supports technology research run in collaboration with the University of Memphis.

Good Shepherd Pharmacy, based in Memphis, believes that blockchain technology is the right method for helping people with serious illnesses. Thus, the organization aims to collect unused medicinal products from cancer patients and give to those who can’t afford them mainly for financial reasons. To organize such a system, the pharmacy will use a distributed ledger.

Here’s what Good Shepherd Pharmacy’s CEO Phil Baker declared:

“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.”

FedEx to organize an event

To attract a number of investors and blockchain experts, the FedEx Institute of Technology will be organizing in collaboration with the organization Blockchain 901 a public event.

FedEx is increasingly involved in blockchain projects. In February, the institute became a member of the Blockchain in Transport Alliance (BiTA), and in May, CEO claimed that the blockchain is “the next frontier that’s going to completely change worldwide supply chains.”

Blockchain technology is beginning to be widely used by most sectors of the economy, not just by the tech one. As reported by the media in June, Microsoft and Adents have also announced a blockchain-based pharmaceutical program that aims to track the supply chain of medicinal products.