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‘Fedex Institute of Technology’ has partnered with Memphis based Pharmacy services company ‘Good Shepherd Pharmacy’ to develop a blockchain based infrastructure that will help cancer patients get quicker to vital medications. The blockchain based system will give uninsured cancer patients an equal chance to receive life-altering drugs. The project will be based in Memphis, Tennessee besides Good Shepherd.
Main Objective of the Project
The main goal of the project is to accumulate unused medications from cancer patients for distribution to others who cannot afford to buy their own. With the use of blockchain, this action will be improved, providing a secure distribution and reduced costs of operation. A secure and immutable ledger would allow for a safe and confidential distribution of medical information.
On the eve of the deal, CEO of Good Shepherd ‘Phil Baker’ mentioned that, “In Tennessee alone, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year. Blockchain is the solution for that problem. The REMEDI project (REclaiming MEDicine) will divert valuable medication into the hands of patients who would not otherwise use it.”
Good Shepherd Pharmacy is a nonprofit membership pharmacy, serving both uninsured and underinsured Tennesseans. Good Shepherd members pay a low monthly fee and get all their prescriptions at cost, with no markup. A portion of each membership goes toward sponsoring a low-income member that cannot afford membership fees. Whereas FedEx Institute of Technology is an organization that serves as a promoter of interdisciplinary research in emerging technologies that operates in tandem with the research infrastructure of the University of Memphis. The institution was launched in February’2018 in order to make University of Memphis a center of technology and research.
Event for Blockchain Enthusiasts
The Fedex Institute is planning to host an event to attract blockchain experts and enthusiasts to discuss Good Shepherd’s proposed initiative. The event will be held along with Blockchain 901, a professional organization that aims to expand the tech workforce in the Memphis area. The event will allow blockchain enthusiasts and professionals the chance to unite and discuss the challenges of Good Shepherd’s blockchain resource development program.