Blockchain
ACG Inspection Introduces Groundbreaking Blockchain-based Brand Platform
ACG Inspection – one of the four businesses of ACG Group, the only supplier in the world offering end-to-end manufacturing solutions for the pharmaceutical industry – has introduced an advanced blockchain-based solution that meets and exceeds traceability and anti-counterfeiting requirements in the pharmaceutical supply chain. The company’s Brand Security Platform combines GS1 2D Data Matrix, smart contracts, geolocation identification and product biometrics tracking to ensure the whereabouts and contents of packaged medicines are tightly monitored through their entire supply chain journey from manufacturer to end user.
The comprehensive new system provides a seamless, uncompromisingly transparent experience to all stakeholders along the supply chain, simplifying the overall process through distributed ledger technology and single ownership. It is designed to overcome several longstanding obstacles to advanced traceability, including the challenges of establishing single-owner data sets, and the prevalence of digitally broken supply chains stemming from, among other issues, struggles with GS1 universality, personnel error and new business models disrupting traditional procedures.
ACG Inspection’s solution has three primary components, each of which can be incorporated individually or bundled per customer needs. The customizable products also are scalable, amounting to geolocation solutions that can provide everything from basic data management to full-scale, supply chain-wide transparency.
- Blockchain: With Distributed Ledger Technology (DLT) and smart contracts, all medicines and buyers, sellers, logistics partners and manufacturers are registered to one network, making it impossible for outsiders to manipulate the supply chain at any point without detection.
- Internet of Things (IoT): All participants in the delivery chain can be connected to the network using any GS1-compatible application, such as the ACG Inspection mobile application, the ACG Inspection web platform, or any other application integrated into the ACG Inspection platform. ACG Inspections Geo Location and product biometrics trackers tagged to the products always provide all the data required for monitoring the location information and biometrics of the package.
- Artificial Intelligence (AI): Participants can be alerted in real-time regarding any temperature breach if the temperature of the medicine/drug rises above or falls below the desired threshold level, Geo-Fencing breach, or any deviation in the route planning, enabling real-time decisions. If the steady stream of data determines unacceptable deviations, the corresponding package is automatically invalidated.
Combined, these elements lead to a supply chain setup with unsurpassed traceability and transparency. Upon obtaining a unique serial number, QR Code or datamatrix for each package, the manufacturer scans the codes to initiate the track & trace process. From that point forward, the system’s trackers continuously monitor and transmit data concerning the package’s temperature, humidity and location and any other parameter that is configured. Data also is analyzed to ensure compliance with various domestic and/or international mandates.
Throughout, real-time data is available to platform users via a dashboard, a unified space for clear and easy access to pertinent information. When the package eventually reaches the end user, the receiving party can validate the drug prior to purchase by scanning its code with a POS scanner. Once the final transaction occurs, relevant data is immutably stored in a digital ledger for reporting or recall purposes.
The new solution is part of ACGI’s VeriShield suite of services – which, in combination with its QualiShield portfolio, encompasses the full gamut of pharma serialization needs through turnkey compliance with current and pending track & trace mandates in countries across the globe. VeriShield offers serialization and aggregation solutions for cartons and bottles at the primary, secondary, and tertiary packaging levels. QualiShield is a complementary, extensive range of high-accuracy camera inspection solutions for pharma doses, labels, and cartons to help pharma companies consistently deliver best-possible products.
ACGI has an extensive portfolio for global Track & Trace requirements with complete coverage of Levels 1-5 serialization needs, from individual line implementation to enterprise IT coordination and government/third-party reporting capabilities. The company has a serialization solutions presence in more than 100 countries around the world; in the U.S., ACGI’s Enterprise Management Suite is among the critical solutions deployed for compliance with the Drug Supply Chain Security Act (DSCSA).
Blockchain
Adapt or Die: The Urgent Shift from VASP to MiCA
The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
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