Entering the teenage years (…of Blockchain for Life Sciences)

I had the pleasure to recently join approximately 200 of fellow blockchain colleagues at SAP’s Enterprise Blockchain Symposium in Palo Alto.  Featuring content and speakers across technology,  various industries (life science, consumer products, high tech) and analyst communities, it illuminated the current state of blockchain and adoption trends and futures. I came away with the understanding that we are no longer in the midst of the early phases of blockchain; infancy and toddler-hood are in the rear view mirror. An interesting observation shared by analyst firm IDC at the event, across various industries, organizations are truly at the “beginning of understanding”; with leading topics emerging cross-industry:

• Generate new revenue streams
• Collaboration within or across industries
• Lower costs and improve operational efficiencies
• Improve business logistics and communication
• Expand the digital customer relationship
• Ensure trust, transparency and accountability

So what is going on specifically in Life Sciences?

Panel Discussion:

Interesting observations from GSK and CSL Behring provided in our Life Science panel discussion touched on the advancement and acceptance of the technology. Noting the progression, CSL in fact has a full-time person dedicated to the topic, driving strategy, process definition and technology across the organization. This evidence reveals reaching a stage beyond science-project status.  GSK commented on the fact that their support and involvement in blockchain POC’s to date indicates a cultural shift is underway there – moving from a traditionally extremely risk-adverse culture to one seeing the benefits and embracing the opportunity. 

Drug Safety Blockchain:

Starting with a group of 15+ SAP Pharmaceutical and Wholesale Distributor clients, SAP’s Saleable returns blockchain is the first industry-specific blockchain that SAP plans to bring to market. Focused on the problem of counterfeit drugs, and managing saleable returns specifically, this blockchain will bring together SAP Advanced Track and Trace for Pharmaceuticals and the SAP Information Collaboration Hub for Life Sciences.  Consumers, patients, government officials can scan a barcode on an individual package and verify its authenticity in a fraction of a second. In compliance with US regulations, wholesalers can use this to verify returned products to prevent fake medications from entering the supply chain through the returns process. 

Emerging Blockchain Priority Topics:

SAP and a group of 15 pharmaceutical and medical device companies aligned to explore additional opportunities and priorities for blockchain.  Five key areas emerged, with several use cases identified in support of each:

• Patient Centric Use cases (blood/other donations, patient engagement processing…)
• Compliance Related Use cases (Product compliance transparency, regulatory compliance…)
• Returns Management Use cases (destruction processing, improving recall precision…)
• Employee Centric Use cases (certificate verifications, 3rd party worker compliance…)
• Miscellaneous Use cases (cryptoshredding, Global trade)

Now that we have entered a period of blockchain acceptance, where do you see the greatest opportunity for life science blockchains? Would love to hear your thoughts.