Blockchain Systems in Pharmaceuticals – Webinar Recording/Transcript
Blockchain Systems in Pharmaceuticals: Transform Quality and Compliance
Bewildered by blockchain? You’re not alone.
Understand the core tenets of distributed systems, blockchains and cryptography and you’ll transform your quality and compliance processes by increasing efficiency and improving security.
James Canterbury — a partner in Ernst & Young’s Risk Advisory practice where he works with the global blockchain team — will explain how blockchains work.
Blockchains keep track of individual medical product transactions — from concept through postmarket surveillance and even the supply chain — in linked groups called blocks. When an authorized user changes information, a new block is created along with indicators that show exactly what changes were made from the previous version and when they were made. Immediately, all new information is disseminated to every authorized user.
Because information can never be written over — similar to a Microsoft Word document with the tracked changes feature on permanently — there is always a tamper-proof log of activity that is highly efficient and much more resilient to cyberattacks and fraud than a traditional database.
- Highlights of where blockchains are currently being used in the pharmaceutical industry, including manufacturing and the supply chain
- The core components of blockchain technology, including single-source data integrity
- Public vs. private blockchains and the challenges, advantages and disadvantages of each
- How to use a blockchain as a notarization system
- The role of non-fungible tokens in product track and trace in the COVID-19 era and beyond
Put blockchain to work for your company to streamline processes, improve quality, ensure compliance and simplify data integrity.
Meet Your Presenter:
James Canterbury is a partner in Ernst & Young’s Risk Advisory practice where he works with the global blockchain team to develop technology solutions for life sciences companies. Mr. Canterbury is also on the board of directors for the global good automated manufacturing practice (GAMP) steering committee as part of the International Society of Pharmaceutical Engineers, where he leads the GAMP Blockchain special interest group.
Who Will Benefit:
- Quality Specialists
- Regulatory Specialists
- Compliance Specialists
- Data Integrity Professionals
- Vice Presidents of Strategic Planning