Our Mission is to fight counterfeit COVID-19 tests and medications worldwide
African countries are also vulnerable because the legitimate pharmaceutical market on the continent is growing rapidly in line with population expansion, creating both challenges and opportunities. Consulting firm McKinsey predicts the value of Africa’s pharmaceutical industry will double or triple to between $40 billion and $65 billion by 2020. This makes the sector attractive to pharmaceutical industry players but also some bad actors.
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Counterfeit Medicantions Kill Hundreds of Thousands
Recent research estimates that one in 10 medical products circulating in low- and middle-income countries is either substandard or fake. This causes 64,000 to 158,000 malaria-related deaths every year in sub-Saharan Africa, according to research by the London School of Hygiene and Tropical Medicine. An additional 72,000 to 169,000 children die each year from pneumonia due to fake or substandard antibiotics, a University of Edinburgh report estimated.
Counterfeit Protection Technology
Using patented technology, drug packages can be printed or labeled with an encrypted code – easily using traditional printing technology.
At the same time, a digital twin of the product is stored in the blockchain in a counterfeit-proof manner.
Copying excluded. Arrived at the end customer, he checks the authenticity of the medicine by a scan – uncomplicated via his smartphone.
Find Out More About the Counterfeit Challenge
Covid-19 crisis underscores need to address trade in fake pharmaceuticals
The vast majority contain incorrect proportions of active ingredients, meaning they are unlikely to work. Many contain undeclared substances that can pose serious health risks. Forensic tests of suspect samples show that in 90% of cases, counterfeit medicines can harm patients.
What we should do...
Counterfeit goods sold during the corona crisis do not meet the required quality standards and pose a real threat to public health and safety.
People who buy these fake products have a false sense of security, while they are in fact left unprotected against the virus.
Therefore, we should not only go after the criminals behind these scams but also, through prevention work, inform potential victims who are putting themselves and others at risk by using such fake goods.
The volume of fake or defective pharmaceuticals in circulation has ballooned with the rise of rogue online pharmacies – 96% of websites offering pharmaceuticals are operating illegally – and with the surge in the use of postal services, where inadequate labelling makes detection and interception difficult.
About The Technology
- Every secure label is unique
- Secured in a Blockchain à cannot be reproduced or copied
- Verification through FREE App via smartphone
- printed directly or via pre-produced secure sticker
- Patented technology
our technology and implementation partner, is an innovative German company, which combines blockchain technology with edge-cutting printing and scanning methods to provide a unique and reproduction resistant digital representation of physical products.
This closes an important gap in the digital transformation, the secure digitization of physical goods.