New Service: Track.one Blockchain for Pharma
Updated: Jun 2, 2018
Authentag LLC, a SAAS company that provides track and verify services for inventory management, to create a Distributed Ledger Technology platform for the Pharmaceutical Tracking..
Authentag LLC: Distributed Ledger Technology (DLT) for Pharmaceuticals Tracking
Authentag’s existing platform for medical device inventory control, used by more than 150 manufacturers in 30 countries, has garnered the interest of the pharmaceutical industry who are struggling to comply with regulations from the FDA related to the Drug Supply Chain Security Act. After presenting at a regulatory and compliance industry forum, Authentag has been challenged to apply their knowledge, experience, and expertise to create a DLT solution for the community that will allow full lifecycle tracking for the $450 Billion USD a year pharmaceutical market.
“Our team is uniquely suited to address this problem for the Pharma Community” Said W.Scott Berg, President of Authentag. “ We’ve already built tracking tech for the medical device industry, which uses the same unique identification codes and also falls under FDA regulation. Between us we have also built some of the most complex digital ledger and information control systems in existence, including government and Industry physical asset tracking, digital asset tracking and some of the first digital ledger systems for electronic and algorithmic trading in the financial sector, plus the global secure data sharing platform that’s currently in use by the US and Allied intelligence services.”
“We’ve had great support from the Pharma Industry, who keep impressing on us the need to have a working solution up and running to be in compliance with the FDA by Nov 2019” Said Stuart Corby Founder of Authentag. “ With their help we’ve published an initial white paper for the DLT, which will be open source and will allow any community member to build their own solutions or services.”
At the beginning of 2018, KPMG invited Authentag to present to the industry-wide Healthcare Distributors Association (HDA.org) trade group which is mandated to lead industry efforts to comply with the Drug Supply Chain Security Act (DSCSA). Authentag presented their existing solution and an outline of how a community owned DLT is the only cost-effective, viable solution for all incoming regulation and internal inventory management needs within the community.. The members concluded that a DLT solution was the best solution and tasked solution providers with building it.
With this mandate, Authentag has created a white paper which outlines the DLT solution for Pharma. This solution builds on their existing products, is open for development by all, and will be available for implementation in time to meet the deadlines imposed by the FDA.
Authentag’s Senior Team:
Stuart Corby - Founder
Hyundai’s Hdac - Technical Advisor: $258 million USD TGE. A blockchain engineered for IoT devices
SEP Sprint - Secure Printing Company; Director; Postage stamps for multiple countries
UBS’s Asian electronic trading platform; Architect and Business owner
W. Scott Berg - Founder
ATA - Created secure data sharing platform. All US and Allied Intelligence Services
Berg Capital - Managing Partner, early stage investment
Navy F-18 Fighter Pilot; Weapons & Tactics Instructor
Rob Torti - COO
AlixPartners - Turnarounds & Restructuring, Advised: GM, Kodak, AIG and General Growth Properties
Chaac Venture: Investor / Advisor to tech startups
Credit Suisse: Electronic Trading OTC