We caught up with Raja Sharif, founder and CEO; Peter Bryant, COO; and Shahnawaz Aziz, CTO, to find out more about their blockchain solution to an old industry problem. FarmaTrust is the most efficient global tracking system which provides security to the pharmaceutical companies, governments, regulators and the public, that counterfeit drugs do not enter the supply chain. FarmaTrust aims to provide a solution to numerous problems currently plaguing the pharmaceutical industry. The pharmaceutical industry is valued at $1.3 trillion every year, with the supply chain mechanism valued at $80 billion and the counterfeit drugs industry at $200 billion. With so much money flowing through the industry on an annual basis, protections like those offered by FarmaTrust become necessary. FarmaTrust will also reduce the risk of fake medications, something that currently causes between 50,000 and a million people to die every year.
So, all packs in developed markets now have to have an individual identity that therefore makes the use of distributed ledger technology quite suitable for this challenge NOVILYTIC, LLCUSAPrivately HeldNovilytic is a biochemistry analytics company that secures lifesaving drugs. The company is backed by strong partnerships with large analytical companies, artificial intelligence leaders and pharmaceutical consortiums. Our potency is extended by the Novilytic team, which includes multiple Ph.D. chemists and engineers who have helped us secure significant patents and other intellectual property. Our business plan will increase those forces to ensure we meet customer, market and regulatory demands. CyphemeFrancePrivately HeldCypheme is an artificial intelligence solution capable of detecting counterfeit products by analyzing the product’s packaging with a neural network, using only a cellphone camera.
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In addition, a lot of the media coverage and some of the other videos that the team has put up on their website is in Bulgarian language only, although some of it does have English subtitles. Adding up these numbers, we arrive at a market cap of 43,759 ETH, or nearly $30 million given current exchange rates. According to Coinmarketcap.com, that would be enough for the EDU token to rank around number 300 on their list. During the first stage of the pre-sale, the token price was 1,350 EDU per 1 ETH. At the current stage, the price has risen to 1,200 EDU per ETH, and it will be raised again to 750 EDU per ETH once the crowd sale begins on June 4.
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A skyrocketing amount of investment is pouring into the technology, and is being put to work in hiring top-notch developers for all kinds of new blockchain-based projects. This price data is based on the mid price of the exchange data from a third-party source. Insureblocks is a dedicated weekly podcast on blockchain, smart contracts and distributed ledger technology (DLT) in the insurance industry. The World Health Organisation estimates that up to 700,000 people die every year due to complications caused by counterfeit Tuberculosis and Malaria vaccines.
There were still some details about the token that we couldn’t find in the white paper and on the website, but their marketing representative replied us after asking questions via Telegram. The main issue with OS.University from an investment standpoint is that the company does not have a Minimum Viable Product (MVP) at this point. According to the FAQ section on their website, the alpha version of their platform will be released before the start of the token crowd sale on June 4. This date was also confirmed by a representative from the team on Telegram. OS.University’s team members come from a variety of interesting backgrounds within both the technology field and academia. With the company behind OS.University being based in Bulgaria, most team members are also Bulgarian nationals.
- Blockchain is essentially a database that is distributed for all relevant parties to have access and visibility.
- FarmaTrust aims to revolutionize the pharmaceutical industry by providing tracking information via the blockchain.
- FarmaTrust is the most efficient global tracking system which provides security to the pharmaceutical companies, governments, regulators and the public, that counterfeit drugs do not enter the supply chain.
- I mean right now, most people in the industry are using cloud based systems – they are much less secure than blockchain technology!
- FarmaTrust solutions mean greater levels of confidentiality and data security, protecting commercially sensitive information, and compliance with data protection laws
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- The system accounts for international regulations and complies with them.
- We have a great use-case, coupled with pitching it to a market that has a financial incentive to get on board with our product.
- Blockchain is no longer just the “technology behind bitcoin,” as governments around the world and businesses from a wide range of industries have jumped on the bandwagon.
- FarmaTrust is an efficient system that can function with your legacy software and hardware, making it much easier for pharmaceutical companies to start using it.
- This price data is based on the mid price of the exchange data from a third-party source.
By implementing our software on the Pharmaceutical supply chain, we can secure the chain, decrease the cost and prevent counterfeit drugs. With a working product already developed, FarmaTrust is positioned to be a significant asset to people and companies around the world. The use of tracking and the blockchain to verify pharmaceuticals should successfully catch counterfeit drugs and dramatically reduce the risk of these reaching consumers. With the additional services, such as automated audits, FarmaTrust will likely provide benefits for all parties involved. The journey of FarmaTrust began in 2016, when the team identified the problem of counterfeit drugs, researched the pharmaceutical market, and conducted deeper research into the issue. By the end of the second quarter, the team had researched the blockchain, how it works, and available platforms to find the best one.
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Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 964 exchanges. FarmaTrust is strategically designed to be flexible and future-proof. Our solutions work globally, including LMICs and are technology and sensor neutral. FarmaTrust solutions mean greater levels of confidentiality and data security, protecting commercially sensitive information, and compliance with data protection laws
This means that anyone, anywhere, will be able to scan a pharmaceutical product and then be able to tell if it is the real deal. In the developing world, for example, people can use their mobile phones for this, rather than having to invest in pricey scanning equipment. FarmaTrust (FTT) is a blockchain-based global tracking system designed with the aim of putting an end to the counterfeit pharmaceutical industry. With its cutting-edge technology, FarmaTrust provides secure, efficient, and transparent supply chains for the pharmaceutical distribution process to ensure the authenticity of medications. FarmaTrust is the most efficient global tracking system which provides security to both patients and the pharmaceutical industry to ensure counterfeit drugs do not enter the supply chain. FarmaTrust, pharmaceutical security on the public blockchain.Our software uses the Ethereum blockchain with utility tokens generated by our holder tokens.
With blockchain if all the parties have an agreement, a consensus around what the distributed dataset looks liken, then it’s very difficult to game the system. Insilico MedicineUSAPrivately HeldOur Mission is to extend healthy longevity through innovative AI solutions for drug discovery and aging research. We aspire to be a leader in the field of deep learning for drug discovery, personalized healthcare, and anti-aging interventions. Copyright © 2025 FactSet Research Systems Inc.Copyright © 2025, American Bankers Association. SEC fillings and other documents provided by Quartr.© 2025 TradingView, Inc. You can use our conversion table to see how much FarmaTrust (FTT) you can buy with €1 based on real-time exchange rates.
From an AI perspective, its utility is about optimization of inventory and ensuring that the right product is in the right place at the right time. The most interesting quality of blockchain is the immutability and incorruptibility of the data. Once you can ensure you have good data and ensure data integrity that has lots of knock on effects in terms of data analytics and artificial intelligence. Blockchain is essentially a database that is distributed for all relevant parties to have access and visibility. Where it differs from traditional databases is that it doesn’t have a sole controller.
That it one of our differentiators – other similar companies are forcing their clients to use a particular sensor. In our opinion you would have to be a massive corporate entity with substantial R&D budgets to go down this route – much better and easier for us to take an holistic approach. Everything will soon become automated; from the packing of medicines to the delivery to a pharmacy or customer. And then we are future proofing ourselves already, because we are collecting data at each and every point on this journey. Generic companies are also open and receptive, often more so than others.
Checkitsreal delivers validation tags (NFC chips, RFID, QR codes, Holograms) and verification services to all market sectors, including pharma, apparel, foodstuffs, consumer electronics, cosmetics, beauty products and toiletries. Checkitsreal is the only app available today which allows anyone, anywhere, instantly validate the authenticity of a product using their smartphone. Product manufacturers purchase checkitsreal products and QR codes using CIRTokens. We have identified farmatrust coin and are already working on solving a problem, whereas many others in this area have either invented a new concept, or a new framework, and then have to work out how to implement it.
This price data is based on the mid price of the exchange data from the Bitbuy API, and may not accurately represent the lowest possible price to buy this coin at this time. FarmaTrust system sits alongside the wholesaler’s legacy technology by optimising the value chain from production to wholesaler to the ultimate point of dispensation, be it a hospital or pharmacy. The blockchain provides the audit trail, the immutability of the data and alongside machine learning it can help optimise what is the optimal stock level at every point along the value chain. FarmaTrust’s price in Euro can be influenced by supply and demand, investor sentiment, global economic conditions, and other market factors. 2017 included just as many milestones, including adding artificial intelligence and machine learning and making and providing a demonstration of the working prototype in the first quarter. In the second quarter, they extended the management team, adjusted the team structure, added new IT members, and explored financing options.