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: 1. Something you know The first factor is called knowledge-based authentication (KBA), and…

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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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Reflections on Innovation within the pharmaceutical supply chain

Last week, Veratrak CEO, Jason Lacombe and Head of Product, Matthew Wilson attended a day long workshop focused on "innovation" within pharmaceutical manufacturing and supply chain at the Big Innovation Centre in London. On hand for the day was the senior management team of a large pharmaceutical company and a selection of invited technology companies and innovators from around the world. The theme was: 'What will the pharmaceutical supply chain look like in 2030?' Veratrak was invited as a result of being awarded "Innovation of the Year" by the University of Oxford for our blockchain based documentation sharing and collaboration platform for the pharmaceutical supply chain. The key takeaways from the workshop are discussed below. Big Pharma thinks ‘big bang’, but the transition does not become anybody’s ownership using this approach. Incremental change is better, affecting the people in the organisation who gain ownership of this issues. This drives more success. Being agile is not about IT, but culture, business structure and rules.Professor Birgitte Andersen, CEO at the Big Innovation Centre Traditional challenges…

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Jason Lacombe wins Promising Technologist Award at BioNow Awards 2021

Showcasing the best of the sector, the prestigious Bionow Awards remain a highlight of the life sciences calendar. The online ceremony brought the sector together, celebrated excellence and recognised the outstanding success and achievements of those who have worked tirelessly this year. Veratrak was shortlisted for the Technical Service Award, along with Perfectus Biomed Group and Quay Pharma — congratulations to Perfectus Biomed Group for its win in this category. For Veratrak, the highlight of the evening was Jason Lacombe (Veratrak CEO) winning in the Promising Technologist category. The group of shortlisted nominees presented stiff competition but Jason's background as a health economist, past experience as an advisor to European Parliament, past selection to the Forbes 30 under 30 and success in founding and growing Veratrak allowed him to come through with the win. If you'd like to learn more about the solutions Veratrak is building to secure the pharma supply chain, contact a member of the team here.

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