Blockchain Technology for innovation in Life Sciences Industry in Switzerland

Abstract

Blockchain technology - the decentralised, distributed, timestamped ledger of transactions is a revolutionary paradigm in the current era of digitalization. This technology allows trusted peer-to-peer transactions without the need for a centralised trusted agency or intermediary. Blockchains can be aptly called the ‘trust machine’ and by creating an auditable trail of immutable timestamped transactions, this technology also increases the transparency of existing processes.This characteristic of the blockchain technology can be used by the lifesciences industry which is comprised of pharma and medtech companies. As the blockchain technoogy is a horizontal innovation with many benefits, there is a potential to explore this technology in all industries....