Blockchain technology is hailed as a solution to Nigeria's counterfeit drug crisis, offering serialisation and verifiable security features to pharmaceutical products, says Hyperspace Technologies CEO Oluseyi Akindeinde.

Encrypted non-fungible token tags provide unique identities, enhancing product security against counterfeiters.

The National Agency for Food and Drug Administration and Control's destruction of over N500 million worth of fake and expired goods underscores the severity of the issue.

Blockchain's implementation ensures authenticity across the supply chain, with smart contracts preventing tampering and boosting trust in Nigeria's healthcare system, according to experts.