Articles

Pharmaceutical Product serialization aims to assign distinct serial numbers to items within a pharmaceutical supply chain. However, this process faces several security challenges like Theft of valid serial numbers may occur, enabling the labelling of counterfeit products. Therefore, it's essential to ensure the uniqueness of serial numbers can be verified at any point in the product's lifecycle within the supply chain. Intimidatory nodes along the distribution network could corrupt planned changes of custody for products. Ensuring verifiability of compliance with these changes is crucial. Manufacturers and consumers need assurance that perishable goods with expired shelf lives are appropriately discarded. In this paper, we review a product serialization method leveraging blockchain technology to address these security concerns within a multi-party perishable goods supply chain. Blockchains offer potential solutions by providing a secure platform for data sharing in multi-party environments, enhancing security and transparency. Within Blockchain technology, each distribution partner is registered to uphold transparency regarding drug information. The system facilitates real-time transfer of ownership changes, recording them as blocks with date and time stamps. This ensures visibility to all partners in real time, maintaining the authenticity of drugs. This article aims to outline how Blockchain technology benefits the pharmaceutical industry by enhancing traceability and trackability of drugs throughout the entire pharmaceutical supply chain.

In today’s world of a globalized economy and ubiquitous digital transactions, businesses are hungry for ways to increase transaction efficiency and security. In the real economy, solutions that scale to fit transaction volume or velocity are equally valuable. This is true for clearing and settlement and for the day-to-day needs of buyers and sellers alike. Clever observers of both cash and digital transactions can spot cases where technology that supports transaction security or safety can strengthen consumer-borrower ties, mitigate default risks, and reduce recidivism. In general, a cloud solution for payment processing and merchant services solves two major barriers to optimum business technology: lack of scalability and lack of security [1]. The extension of current practice has its advantages, but new solutions unlock significant opportunities for both consumers and financial institutions [2]. The focus of this work is on the provisioning of cloud-based payment processing and merchant services to financial institutions and established global organizations, although the options available with these services mean they are potentially applicable to a wide range of group entities, including non-trading organizations, pension administrators, and group treasurers. With the increased attention to cybersecurity, a mass of data is available to assist the IT departments of the major payment processors, merchants, and acquirers to get cybersecurity on the radar of C-level executives [3]. The case is put forward for the increased targeting of and reporting to the Board’s Audit, Risk, and Liability Committees of publicly held payment processors and merchants to reduce fraud losses and mitigate the reputation and class action lawsuit risk due to data breaches. The progress of technology in the payment sector requires all stakeholders to have a collective approach in order to mitigate fraud and cybersecurity-related risks in new products and services to enhance consumer confidence and the proportion of retail cashless transactions [4].