The cost of clinical trials has approximately doubled over the last 10 years. There are several reasons for this, but the main ones include more complex regulations, extended trial timelines and higher costs associated with collecting, managing and analysing data. Streamlining and automating aspects of clinical trials in a trusted, secure and auditable way would radically improve management efficiency, by allowing more accurate prediction of trial timelines and costs. Blockchain-based systems could provide the basis of a revolutionary new style of clinical trial management, by enabling the automation of aspects such as:
However, while blockchain is the obvious solution, the question once again arises: which one? Given the nature and scale of multinational clinical trials, the number of stakeholders involved, and the type of data captured, it’s unlikely that a single blockchain solution would come to dominate. Nor would it be desirable. As a sector for which time to market is critical, it would be unwise for sponsors such as the Pharmaceutical companies and clinical trial providers to become locked-in to a single blockchain solution.
Enter Overledger. The only blockchain operating system to allow interoperability of blockchains without adding complexity or another layer, Overledger allows all stakeholders to interconnect and interoperate without additional infrastructure, lock-in, or – in the case of trial sites – the need to integrate multiple blockchain technologies from different clinical trial providers and sponsors with clinical sites.