A Non‐Fungible Token Solution for the Track and Trace of Pharmaceutical Supply Chain

Abstract

Industry 4.0 is leading society into a new era characterized by smart communications between consumers and enterprises. While entertainment and fashion brands aim to consolidate their identities, increasing consumers’ participation in new, engaging, and immersive experiences, other industry sectors such as food and drugs are called to adhere to stricter regulations to increase the quality assurance of their processes. The pharmaceutical industry is inherently one of the most regulated sectors because the safety, integrity, and conservation along the distribution network are the main pillars for guaranteeing the efficacy of drugs for the general public. Favoured by Industry 4.0 incentives, pharmaceutical serialization has become a must in the last few years and is now in place worldwide. In this paper, a decentralized solution based on non‐fungible tokens (NFTs), which can improve the track and trace capability of the standard serialization process, is presented. Non‐fun-gible tokens are minted in the blockchain and inherit all the advantages provided by this technology. As blockchain technology is becoming more and more popular, adoption of track and trace will increase tremendously. Focusing on the pharmaceutical industry’s use of track and trace, this paper presents the concepts and architectural elements necessary to support the non‐fungible token solution, culminating in the presentation of a use case with a prototypical application.