Pharma Blockchain

Madhur Garg Feb 26 2021 · 1 min read
Share this

 Smart contracts are digital representations of company-driven contracts that exist on the blockchain, or chain code. Smart contracts describe the relationship between two or more parties and can allow network participants to automate business processes that can reduce operational inefficiencies through automation and provide greater precision.For example, in future iterations of the Pilot, if a product is damaged in transit, a smart contract might allow automatic product re-ordering or allow payment to be released from the sender to the receiver upon confirmed receipt of the product. To optimise the advantage of off-chain storage, a blockchain network may be intentionally built. For example, to facilitate compliance with HIPAA, a blockchain network can use off-chain storage to store personal identification information or use it to facilitate the sharing of large files or documents. In addition, in order to optimise search query effectiveness, offchain storage can be considered. 

Read next