GENEXI Platform is an innovative solution provided by the GENEXI Dev Team for the e-commerce market in order to support GENEXI Ecosystem development.
The platform unites biotech producers, distributors, retailers and end-consumers in one blockchain solution based globally operating ecosystem. Utilizing the powers of the platform, a biotech producer can focus priorly on development and production, significantly cutting the costs of marketing and consulting, and attract multiple distributors without having to establish a wide range of products first.
At the same time, distributors and retailers will also gain advantages by obtaining access to a growing number of cutting-edge biotech-product within the GENEXI QA Control System.
The Product Authenticity Verification System is designed to ensure full track of the supply chain, authenticity verification and complete production data and report.
The production and supply chains become fully transparent with the use of the blockchain technologies; the information added to the ledger is available for all the ecosystem participants. The statistical data obtained via shipment tracking will contribute a lot to GENEXI market development and could constitute yet an additional source of income applied to the e-commerce processes.
All the transactions within the ecosystem will be processed via smart-contracts, thus preventing the necessity to apply to middle-men and third-party services and vastly reducing the risk of fraud, all resulting in a significantly lower end price. In case of dispute, the parties can appeal to an Arbitrator for resolution.
Therefore, GENEXI Platform will provide an end-user with access to unique state-of-of-the-art sensations of the biotech industry, fully protected with distributed ledger technologies in production and supply chains.
GENEXI targets to utilize the advantages of blockchain to mitigate fraudulent activities in the biotech industry
- Blockchain provides transparency in the clinical research processes
- Blockchain ensures that the data supplied by the clinical research process is credible and immutable
- Blockchain smart-contracts allow for automation of the process and enable decentralized control for investors
Blockchain technology stops the entry of fake drugs into the supply chain, first and foremost between the manufacturer and the consumer.
The technology uses a highly flexible transparent system in order to assign each manufactured product an asset. These assets are added to the blockchain and assigned a unique identification number, commonly referred to as hash. Then the technology verifies the hashes to find out whether the product is counterfeit or legitimate.
Every product can be verified using this technology. Anyone can get access to the blockchain and conduct their own product verifications. Moreover, no duplicate items can be created. Blockchain creates a visible supply chain where suppliers, vendors, distributors and partners are close-knit.
All transactions are recorded; location, quality, price, and other data is visible to all concerned parties.
Only trusted parties are allowed to write on the blockchain system. Manufacturers and consumers can scan the barcode and view the history.
The platform also reports whenever a counterfeit drug is found. Altogether the solutions combined make the GENEXI platform an ideal business decision.