Before pharmaceutical drugs or medical devices get approved or cleared for marketing, their safety and efficacy must be thoroughly researched and evaluated in clinical trials. Accurate, reliable, traceable, and secure data are crucial for the evaluation of trial outcomes and ultimately for marketing approval or clearance by health authorities. By its very design, the Blockchain has the potential to set a new standard in terms of data integrity, traceability, safety, and operational efficacy in clinical research, while facilitating regulatory oversight and trust.
PharmaTrail leverages Blockchain’s inherent data integrity features. The Blockchain is an incorruptible digital ledger of transactions where data is secured using cryptography and stored across the blockchain network in a decentralized system. Consequently, it fulfills, by design, the highest security requirements and provides an incorruptible audit trail.