FedEx Chairman Roger Smith is on record as being a big fan of blockchain’s use in the supply chain. Now a University of Memphis research organization that bears his company’s name is working on using a blockchain infrastructure in Memphis to get cancer medications to those who need it.
According to Commercial Appeal, a publication of USA Today, the FedEx Institute of Technology is partnering with pharmacy services company Good Shepherd Pharmacy on a blockchain-based system to retrieve unused medications from cancer patients and make them available to the disadvantaged.
“In Tennessee alone, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year,” Phil Baker, Good Shepherd Pharmacy’s CEO, said. “Blockchain is the solution for that problem. The REMEDI project (REclaiming MEDicine) will divert valuable medication into the hands of patients who would not otherwise use it.” Read more here.