Improving the safety of medicines
Challenge

In recent years, DLTs have significantly increased both the power and the popularity of Smart Contracts. But while they have a potentially infinite number of possible applications, their actual use is likely to remain limited until until a single Smart Contract can be recognised by, and executed on, different DLTs. This is precisely why Quant has introduced the concept of the Treaty Contract. A fast, simple mechanism for facilitating the cooperation between Smart Contracts and transactions on different DLTs using Quant’s Overledger Network, a Treaty Contract can deliver real benefits in many scenarios.

Solution

One of these scenarios is in healthcare. More specifically, Treaty Contracts can play a major role in improving the safety of, and reporting on, medicines. This is because, by connecting data across different DLTs, Treaty Contracts can assist manufacturers with the provenance of medicines, and therefore make it easy for stakeholders involved in purchasing medicines the ability to check that medicines are genuine before purchase pack them during the delivery cycle and automatically report counterfeits to regulators.

Benefit

By enabling cooperation between Smart Contracts on different DLTs, Treaty Contracts are ideal for extending business processes across multiple internal DLTs, or for interoperating with external DLTs, in order to unlock the true business value from a multi-chain strategy.

Automating complex processes and enabling choice for stakeholders
Streamlining commodity flow across the world
Bringing trade finance into the digital age
Creating a new global energy ecosystem
Treaty Contracts: Connecting Central Bank Digital Currencies
Modernising information exchange for utility companies
Improving the efficiency and management of clinical trials
Improving the safety of medicine
Increasing business efficiency in agriculture
Delivering an improved model for financial reporting
Enabling a new generation of agri-food supply chains
Maximising the benefits of knowing your customer
Reducing seafood fraud with more transparent and traceable supply chains
Unlocking the potential of stablecoin for commercial banks
Enabling open access to CBDCs for the first time
Facilitating a global ecosystem for digital assets
Making supply chains more transparent, traceable and trustworthy
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