May 15, 2018
Cross PlatformFarmaTrust works with any system, and is compatible with any platform. It is safe, secure, encrypted, and immutable.
Artificial IntelligenceFarmaTrust utilises AI technology to analyze data to create efficiency and interact with users.
Big DataFarmaTrust system provides the most comprehensive data about the pharmaceutical industry in real time and globally.
GlobalFarmaTrust system works internationally, with differing serial numbers, different regulations and different countries.
- saves lives by providing a pedigree of the drug and trust in the manufacturer. - saves lives by freeing previously locked-in data of users of a drug for R&D use. - significantly reduces development costs (it uses existing technology). - provides infrastructure infallibility - there is no central database. - provides immutability - there is no central database and decentralized ledger. - provides record integrity, and cannot be corrupted. - provides potential for personalized medicine. - is regulatory agnostic - multitude of configurations. - increases eiciencies with artificial intelligence in the supply chain. - facilitates on-line demand - goods can be check whether they are genuine.
FarmaTrust requires utility tokens which are used to track the various items and drug packets through our platform as well as pay for tools and services provided by FarmaTrust.
$1 360 000
$80 664 196
$15 139 548
Market:FarmaTrust is not the only project, which is engaged in the management of pharmaceutical supplies. Their direct competitors are:Synthium Health - ICO was carried out in February 2018, there’s no information on raised funds and release date.BlockRx Isolve - ICO was carried out in January 2018, there’s no information on raised funds and release date.Besides, FarmaTrust has to compete with projects not only from the healthcare area. There are projects, which technology allows tracking supply chains of any labelled products:VeChain - capitalization - $1,8 billion, VEN token price after release at the exchange increased 14 times.Origin Trail – in the course of ICO $21,5M was raised, capitalization - $56,2M, ROI USD - 2,1xModum - $13,5M raised, capitalization - $30,2M, ROI USD- 1,65x
Social activity:The community’s interest in the project is below average, taking into account the team started to develop the followers’ base from December 2017: Twitter - 2896, FB - 3149, Telegram - 9289.
Verdict:The lack of large partners, extension of public sale and platform availability time and decrease of hardcap 2.3 times are a wake-up call in the project planning and implementation.The project concept is perfect for the ideal world without government corruption, manufacturers’ cartel agreements and distributors’ monopoly domination. And the project success will depend on the development of the partnership network of manufacturers and pharmaceutical distributors, and taking into account the realities of the modern market, it will be not anytime soon.
I passed on it as well.
Good use of the technology in a vital area. I like the look of the team and the vision is strong as well. Keep up the good work, guys, and I look forward to seeing the development!
Since different parties of a drug supply chain have different rules and regulations, there’s a risk of fraudulent actions with drugs when moving from one jurisdiction to the other. FarmaTrust is aiming to unify this process to eliminate getting counterfeit drugs into drug stores, hospitals and other medical institutions. This is not the first ICO project in the sphere of supply chains mostly because the blockchain technology is able to significantly improve efficiency and bring transparency which is highly demanded in the industry. The importance of supply chains in pharmaceutical industry is ultimate because in the end it saves lives. Among disadvantages we’d note a challenge of making the project visible to masses and engaging customers, as well as the system of three tokens that looks quite complex.Other projects dealing with supply chains and that have already conducted ICO campaigns are on their way to success and feeling fine. FarmaTrust is ready and capable of repeating their stories.
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