Insureblocks Blockchain & Smart Contracts In Insurance

Najib Rehman, Data Strategy Lead, at FramaTrust and Raja Sharif, CEO and Founder of FarmaTrust join us in this exciting podcast on how they use AI and blockchain technology in the pharmaceutical and healthcare industry to help resolve some of its problems.   What is blockchain? 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. 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. Blockchain makes it easier to identify the bad actors.   Fraud & challenges in the pharmaceutical and healthcare 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. PWC estimates that counterfeit pharmaceutical is a $200bn annual business. This is quite a significa