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A reputed Medical Implant Manufacturer enhanced customer trust in its products by using tokenization for assured component quality and origin.
A reputed Medical Implant Manufacturer enhanced customer trust in its products by using tokenization for assured component quality and origin.
Despite regulations and unique serial numbers, counterfeiting of medical implants continues to pose serious health risks. Manufacturers depend on third parties for several key components, and the record keeping of these players is notoriously opaque. A leading medical implant manufacturer turned to tokenization, to protect patients and authenticate its products.
Medical implant makers depend on third parties for components. Authenticating the entire supply chain is challenging.
Around 8% of implants in the market are estimated to be counterfeits - a rise of approximately 15% in the last year.
Dedicated regulatory teams add to manufacturing costs. Not every player in the supply chain can afford these overheads.
The medical implant manufacturer used Blockchain technology to create an unalterable ledger. Non-Fungible Tokens (NFTs) were used to offer unique digital certificates for each implant, certifying its origin and authenticity.
Storing information on a distributed digital ledger was the ideal solution for ensuring patient safety in this critical sector.
Refined protocols were used to streamline the end-to-end authentication and security of the implant, across multiple processes.
Accurate tracing, to issue a unique token and verify every step and component, required undertaking an upgrade of systems.
The medical implant manufacturer used Blockchain technology to create an unalterable ledger. Non-Fungible Tokens (NFTs) were used to offer unique digital certificates for each implant, certifying its origin and authenticity.
Lives often depend on medical implants. Ensuring safety and standards instantly sets a brand apart from competitors.
Positive customer perception and better compliance inevitably lead to a manufacturer increasing their market share.
Blockchain and NFT technology provide stakeholders with an immutable and reliable record for each implant’s journey.
Data provided from an immutable ledger from the genesis of the implant provides a greater level of trust for the customer.
