GeM (the government e-marketplace) eyes to experiment with blockchain technology by running a pilot project for 372 geographical indication (GI)-registered products.
The stance is intended at preparing for a supply of medicines and vaccines in a safe way on its platform. It will help avoid forgeries and support the monitoring of specified standards throughout the supply chain of the product.
In an interview, the CEO of GeM Prashant Kumar Singh said that there is a lot of forgery in GI products. They are using blockchain technology for GI products where they have end-to-end visibility, which will include the clearing and forwarding (C&F) agents, manufacturer, any of the agencies certifying the quality of the product, recipient of the product and GeM.
He added that when people go to medical stores to buy medicines that are supposed to be stored at -10°C. But they don’t know whether the medicine was stored at the specific temperature from production to consumption stage. But by using blockchain technology and by placing a small IoT (internet of things) device, which keeps on broadcasting the temperature every 10 seconds, everyone who is on the platform will get to check whether the requirement has been met or not. This will prove the authenticity and improves the originality of the product.
He continued that blockchain is no more the latest technology but isn’t well deployed in the nation till now.