What is Blockchain Technology?

What is blockchain? To put it quite simply, a blockchain is a ledger that is distributed. Since the rise of Bitcoin in 2008, blockchain technology has evolved and made a name for itself across global supply chains, healthcare, financial services and many other industries. It is no surprise that innovators and industry leaders are looking for ways to integrate blockchain into their businesses as the benefits are significant. It not only provides better security and transparency but also increases efficiency and traceability. Security Security is one of the main benefits of blockchain technology. Due to its decentralised nature, blockchain brings the opportunity to change how critical information is shared and stored. Information stored on-chain is encrypted end-to-end and can’t be altered, preventing unauthorised activity and fraud. Transparency Blockchain’s greatest asset is its transparency. As previously mentioned, blockchain is a distributed ledger, which means all participants see identical information. The shared version can only be updated through consensus and is monitored with a time and date stamp, providing complete,…

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The importance of multi-factor authentication (MFA)

Security. Passwords. Protection.  Every business and individual has these measures in place to protect their data, but whether they are secure enough is another question. Most users assume their passwords will keep their information safe, but even the strongest of passwords can be vulnerable. In fact, data breaches, malware, device theft, and many other methods can be used to compromise digital passwords – this is where multi-factor authentication (MFA), or two-factor authentication (2FA) comes into play.  The technology adds an extra layer of security that a password-only login cannot. As we have established, the traditional password is becoming more at risk and so additional information as another layer of security is crucial. According to the NCSC’s UK Cyber Survey, only 15% of people say they know a great deal about protecting themselves online, which is a significantly low figure. Here is a rundown of the 3 different types of factors to increase security using 2FA: Something you know The first factor is called knowledge-based authentication (KBA), and involves…

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BOMI Group joins the Veratrak-led Integrated Warehouse Project

BOMI Group collaborates with Veratrak to streamline operations and provide clients with easier integration. Veratrak has announced its collaboration with BOMI Group as they join the Veratrak-led Integrated Warehouse Project. The company has joined the Integrated Warehouse Project to leverage the industry-wide collaboration platform and move away from peer-to-peer (P2P) messaging between pharmaceutical companies and logistics partners. BOMI Group will benefit from Veratrak by connecting to the Integrated Warehouse Hub to reach sustainability goals, optimize supply chain operations and facilitate better data transfer between it and its HLS partners. The Integrated Warehouse is a cloud-based hub, backed by blockchain technology and is the first ever HLS-LSP decentralized data exchange platform.  Blockchain technology will be used at participating organizations to verify data coming into the Integrated Warehouse message hub, thereby creating a single and irrefutable source of truth for all messages that are shared between Healthcare & Life Sciences (HLS) companies and Logistics Service Providers (LSPs). CEO of Veratrak, Jason Lacombe comments: “We are thrilled to welcome BOMI Group…

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Veratrak announces its partnership with French contract development and manufacturing organisation (CDMO) Skyepharma

Skyepharma will leverage the platform to exchange and collaborate on quality and manufacturing records with its supply chain partners. Skyepharma, a French contract development and manufacturing organisation (CDMO), has selected the Veratrak platform to ensure data integrity and enable secure data sharing throughout its supply chain. Using Veratrak, Skyepharma will leverage the platform to exchange and collaborate on quality and manufacturing records with its supply chain partners. This means that Skyepharma now has the ability to streamline the onboarding of new customers and securely exchange manufacturing, quality, and analytical data. It will also enable Skyepharma to have complete data integrity to store and share data securely throughout its operations and those of its supply chain partners. Skyepharma is working with international clients, which require the highest degree of data security, and Veratrak helps the CDMO meet these expectations. Commenting on the partnership, Veratrak CEO, Jason Lacombe said: “We are delighted to welcome Skyepharma to the Veratrak platform. We’re looking forward to helping the company and its partners benefit…

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Pharma Integrates

Veratrak’s CEO, Jason Lacombe, shared the podium with experts from IBM to discuss “Blockchain In Action”. More than 400 people attended the conference on November the 18th of 2019, where approximately 90 speakers shared a wealth of experience over two days of sessions. The interactive sessions covered a range of topics, from operations and manufacturing, to technology and collaboration. Communications amongst stakeholders in the pharmaceutical industry was the overarching theme of the conference. A majority of the speakers acknowledged the need for improved collaboration technologies. Veratrak’s CEO, Jason Lacombe, shared the podium with experts from IBM for a talk titled “Blockchain In Action”. During the session, an overview of blockchain was given, along with practical use cases for the technology. Key takeaways from the session: Collaboration between life sciences companies requires processes around how information is shared. Blockchain provides a secure and compliant method for sharing information among different stakeholders in the life science supply chain facilitated by its immutable audit logs. Whilst organisations have document management tools…

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Remote Auditing: How can the life sciences supply chain adapt?

Business operations in many industries have had to adapt to restrictions in place to curb the spread of Covid-19. While some operations can be paused until it is safe to resume normal practices, like working alongside colleagues or in-person trade shows, for many of the world’s critical industries, customers and suppliers must carry on communicating and collaborating. GxP manufacturing in the pharmaceutical industry has had to adjust to meet the challenges Covid-19 poses. The pharmaceutical supply chain, continuing to develop, test, manufacture, and ship medicine across borders around the world, has to ensure rigorous quality for these processes now, more than ever. To ensure this quality is achieved, supplier audits are performed both when on-boarding a new supplier and then periodically to track continued quality over time. These audits traditionally take place in-person, with customers visiting their suppliers (often across continents) to view manufacturing operations and review quality documentation, certificates, and process documents. With ongoing travel restrictions, pharmaceutical companies have had to quickly pivot to carrying out remote…

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Veratrak Presents at Oxford Saïd Entrepreneurship Forum

We were delighted to be part of the Oxford Saïd Entrepreneurship Forum at the Oxford Saïd Business School. On 3rd March 2018, the Veratrak leadership team attended OSEF, a forum for entrepreneurship in Oxford. The day featured a wide range of interesting topics, from interviews with successful serial entrepreneurs, discussions on HealthTech and the funding landscape in Europe. The day concluded with a series of talks from companies using innovative approaches. Veratrak CEO Jason Lacombe, spoke as part of this. He presented attendees with a frank look at issues faced in the pharmaceutical supply chain with security and collaboration. He then spoke about how Veratrak is solving those problems for our customers. Jason Presenting to Crowd at OSEF It was great to be involved in the Oxford Saïd Entrepreneurship Forum..

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Veratrak CEO, Jason Lacombe discusses blockchain on expert panel

As part of a joint event between the Oxford Foundry and the Oxford University Blockchain Society, Veratrak CEO, Jason Lacombe discussed with fellow experts "How Blockchain Will Radically Change our Society". The event was billed as "an evening conversation about what Blockchain is capable of doing, and how it will transform business, work, governance and society." and Jason was involved in some in depth discussion with the other experts on the panel. The panel comprised of: Jack Laing, Oxford University Blockchain Society President (Chair)Ludwig Siegele, Technology Editor at The EconomistRuth Milligan, Head of Financial Services & Payments Programme at Tech UKJason Lacombe, CEO at VeratrakProfessor Vili Lehdonvirta, Associate Professor and Senior Research Fellow at the Oxford Internet Institute Discussion topics ranged from Decentralised Autonomous Organisations (DAOs), to the implications of immutability for data privacy. The panel was followed by a networking session with many more questions and interesting discussion on how Veratrak is practically solving problems within the pharmaceutical supply chain. Audience at Oxford Foundry Panel

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Veratrak identified as top 5 UK healthcare blockchain provider

In a detailed landscape analysis examining the UK blockchain ecosystem both Veratrak and CEO, Jason Lacombe, were identified as key influencers. The report was led by the All Party Parliamentary Group on Blockchain, as well as, the Big Innovation Centre, Deep Knowledge Analytics, and DAG Global. The report highlights that the UK is increasingly being viewed on a global scale as a hub for blockchain activities, and investments in UK-backed blockchain companies continues to rise. At Veratrak, we are thrilled to be featured in this report which presents an in-depth analysis of 225 companies, 180 investors and 30 tech hubs and is the most robust analysis of the UK blockchain ecosystem to date.

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Veratrak Talks on Supply Chain Innovation at Pharmapack Europe

We were thrilled to be invited to talk at Pharmapack Europe 2018 about what Veratrak is doing to drive innovation in the pharmaceutical supply chain. On 7th February 2018, Veratrak CEO Jason Lacombe, spoke to conference attendees about issues faced with security and collaboration with supply chain partners, educated attendees on the huge benefits that blockchain technology can bring to this problem, and spoke about our pilot projects and vision.

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