Observation | Exploration of Blockchain + Medical Supplies to Create a New Industrial Ecology

Recently, according to Sina.com, masks have been used to sell goods for sale.

When interviewed by reporters, the merchants selling masks said for a while that they sold 4 yuan each, and then said that they used it for themselves, and it became an indisputable fact that they sold masks without a license.

Source: Sina

According to reports, the merchant's masks are from the wholesale department, but it is not clear whether the quality of the masks is guaranteed. Originally it was used by itself, but there were too many goods, so some were sold.

According to the State Food and Drug Administration's Notice on the Classification of Medical Disposable Protective Clothing and Other Products, Medical Disposable Protective Clothing, Medical Protective Masks and Medical Surgical Masks are classified as Class II medical devices for management. For now, masks are even more important.

Therefore, it is important to regulate the market for masks.

Why is it notch?

Except for the exposed fraud, the country's financial difficulties, etc., after the outbreak of the new crown pneumonia epidemic, the masks that usually cost a few dollars are now selling for tens of dollars, and there is no price. Online booking is the way to buy.

At the end of February, domestic work resumed, mask manufacturers all mobilized, and a large number of factories assisted in inter-bank production. According to reports, at the end of February, the daily output of masks nationwide reached 110 million, and the current production capacity of masks has increased by 500% compared to 2019.

Even so, the real dilemma is that the supply of masks is in short supply, and even a group of unscrupulous merchants use this to fake. Can't really alleviate the status quo of mask shortage, what's the problem?

As far as the medical surgical mask production chain is concerned, high-melting polypropylene fiber is the raw material for the production of masks. During the processing process, it needs to be processed into the non-woven fabric required for the outer and inner layers of the mask. At present, the supply is relatively sufficient. However, the meltblown non-woven fabric required for the middle filter layer of the mask is the key to filtering bacteria in the mask. The market price of meltblown cloth has climbed from the original 18,000 yuan / ton to 400,000 yuan / ton, which has become a throat to restrain the expansion of mask production.

Source: New Retail Business Review

Unqualified production and unclear source tracing of raw materials are problems at the current source of mask production. The production qualification of the company and the traceability of the raw materials of the masks are the problems existing in the source production of the masks at this stage. In addition, during the sales of masks and other materials, problems such as the illegal use of masks to raise funds, the illegal acquisition of unqualified masks, and temporary price increases still occur.

Observing the entire industry chain comprehensively, there are many problems that need to be solved, and these problems also exist in the process of production and transaction of other medical supplies. Then, how can blockchain technology be applied to the process of production and transaction of medical devices and drugs?

Blockchain Solution: Building an Industrial Trusted Network

Blockchain technology can effectively achieve full traceability of information, establish systems based on specifications and protocols, and do not rely on third parties. In this system, data such as raw material procurement, production, logistics, warehousing, and distribution are recorded. All nodes securely verify, store, and synchronize the data in the system, and can track product quality and record product sales.

During the production process of masks, the purchase of raw materials goes through several production processes, the environment of the production workshop, the production staff, and product testing. The information and data corresponding to each link of production will be recorded and stored on the chain to form The only traceable source of the product becomes the qualified production certificate of the product.

(Chart: Running Finance)

For example, medical protective masks belong to the second type of medical devices. The qualification of second-class medical devices not only has basic requirements for hygiene, production, and product licensing, but also requires manufacturers to have dust-free, Bacteria workshop. At the same time, it takes 14 days to release the medical mask after processing. In the blockchain system, a production enterprise needs to upload relevant qualifications and publicize the health status of the workshop to become the production license of the enterprise. Other endpoints of the industrial chain can judge whether to cooperate with it based on this.

A system based on blockchain technology can ensure the flow of data on the chain between industrial chains, and achieve unified credentials, full records, and corporate credit. This industry-trusted and industry-standard data information is among different participants on the chain. Share, improve the cooperation efficiency of the industry chain, and maximize the benefits of multiple parties.

(Chart: Running Finance)

Blockchain technology has the characteristics of immutability and permanent preservation, which guarantees the relative security of data and information on the chain and avoids artificial modification or deletion of data. In this way, attempts by participants to tamper with the data will greatly increase the cost of this behavior. The machine trust created by the chain will further standardize the production and sales process, forcing companies to be active, conscious, and trustworthy. From another aspect, the use of blockchain technology can strengthen the traceability of substandard products, which is conducive to the strengthening of supervision.

There is a very critical setting in the entire blockchain system: smart contracts.

Smart contract tandem masks The relevant implementation agreements and violations of the parties' manufacturers, sellers, logistics and consumers, to clarify the corresponding rights and obligations of the parties, such as whether the manufacturer carries out raw material procurement, production specifications, and inspects the product in accordance with the agreement. After the relevant data is stored on-chain, the contract execution can be triggered automatically. Consumers can make selective purchases based on the on-chain data. The transaction amount, transaction volume, and logistics operations will be automatically executed according to the contract. If one party is in breach of the contract, for example, if the mask received by the consumer is not the expected specification and feedback is provided, the responsible party will have to pay.

However, the limitation of blockchain technology is that it can only store and update data on-chain, and cannot solve the problem of data consistency between off-chain and on-chain, that is, the consistency problem of real society and virtual space still needs other technologies to co-operate. The new generation of information technology, such as the Internet of Things, big data, artificial intelligence, etc., will manage the entire life cycle of production traceability and material tracking.

The application scenarios of blockchain technology in the medical field have been under discussion and research, and Beijing and other places are also establishing corresponding research bases for the deployment of artificial intelligence and blockchain technology in the medical field. In the future, blockchain technology The field of energy medicine will become a key direction. In essence, blockchain technology can solve the problems of medical supplies such as masks in the aspects of quality, transportation safety, and regular sales. The technical guarantee is safety, and it provides the kindness that society needs most.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Bitcoin

Matrixport Report Brace Yourselves! Bitcoin Price Expected to Skyrocket to $125,000 by End of 2024

Get ready, Fashionistas! Matrixport predicts that Bitcoin will reach its current all-time high by April and soar to $...

Blockchain

Reviving FTX SEC Gives Green Light for a Compliance-Focused Comeback

Possible Approval for FTX Revival from US SEC Depends on Adherence to Regulatory Guidelines by New Leadership.

Blockchain

The Core Seed Abstraction Innovation: Wallets Without the Hassle!

Fashionista, get ready for the latest innovation in crypto wallet technology from Core Protocol! They are revolutioni...

Blockchain

Coinbase Caught in a Regulatory Tangle: Will They Sink or Swim?

Coinbase has recently warned some users that the CFTC subpoenaed them for information about Bybit.

Blockchain

💰 HashKey Group Raises $100 Million in Series A Funding, Valuation Reaches $1.2 Billion! 🚀

HashKey Group has just announced the successful completion of their Series A funding round, raising an impressive amo...

Blockchain

Foresight Ventures Acquires The Block: A Crypto Power Move!

Fashionista Acquisition Foresight Ventures Takes $60 Million Majority Stake in Crypto News Media Firm, The Block