Blockchain tech will revolutionize the pharmaceutical supply chain ... and you can profit!
When I talk to investors about blockchain, I get one of three reactions:
- Block what?
- Blockchain is waaaaay overhyped.
- Blockchain is the next big thing!
Which describes your opinion about blockchain? I find that 90%-plus of the reactions I get are either No. 1 or No. 2, with only a small fraction counting themselves as true blockchain believers.
Revolutionary technology is always underappreciated until it becomes mainstream. If you’re a baby boomer, you will remember the skepticism about personal computers and even the internet … long before both became integral to our personal and professional lives.
If you got in on the massive stock market profits those disruptive technologies soon offered, you no doubt remember those. And if you missed out on those early gains, you probably remember THAT even more!
But while individual investors may not have jumped on the blockchain train, Corporate America is sprinting to incorporate blockchain technology into its technological essence.
According to International Data Corp., global spending on blockchain solutions will hit $2.9 billion this year and surge to $12.4 billion by 2022. That’s a 76% annual compound growth rate!
Those are huge dollar amounts and, for a lot of investors, it may all seem abstract and fairytale-like. But let me put a (corporate) face on those figures.
IBM, Walmart and Merck — three of the largest companies in the entire world — are joining forces with the U.S. government to build a blockchain-based supply chain network for prescription drugs.
Counterfeit, stolen, contaminated or otherwise harmful drugs are becoming such a serious (and deadly) problem that there is an enormous demand to track drugs as they move through a supply chain. This is why the FDA has asked IBM, Merck and Walmart to collaborate on building a secure, pharmaceutical drug supply chain.
Once completed, this new secure supply chain system will give each bottle of drugs a unique, totally secure identifier. This will make it possible to track every pill through the supply chain, from manufacturer to pharmacy to consumer.
This blockchain network will provide an irrefutable record of each transaction as the drug moves through the supply chain and leaves a crystal-clear audit trail.
IBM is the technology partner, Merck is of course a drugmaker, and Walmart’s pharmacy make it one of the largest drug distributors in the world.
I’m not suggesting that you rush out and buy shares of IBM, Walmart and/or Merck. In fact, I would only recommend one out of those three companies.
But make no mistake, you are going to hear more and more about blockchain as it becomes more mainstream and widely adopted. However, by the time that everybody starts to tout blockchain stocks, the big profits will have already been made.
The time to load up on the blockchain innovators is now. Not next year … NOW!
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