Memphis Company Partners with FedEx Institute of Technology, Blockchain Nonprofit to Explore Pharmaceutical Solutions

July 6, 2018 - Building on the success of EthMemphis, a hackathon for enterprise blockchain solutions, and the recent announcement that two new blockchain startups will base their operations in Memphis, the FedEx Institute of Technology will partner with Good Shepherd Pharmacy to build a new blockchain infrastructure in Memphis.

Good Shepherd Pharmacy is a Memphis-based company committed to providing low-cost pharmaceutical options for the uninsured. In a new venture, Good Shepherd is developing resources to reclaim unused pharmaceuticals from cancer patients and build accessible resources for the disadvantaged.

"In Tennessee alone, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year," said Phil Baker, CEO of Good Shepherd Pharmacy. "Blockchain is the solution for that problem. The REMEDI project (REclaiming MEDIcine) will divert valuable medication into the hands of patients who would not otherwise receive it."

In collaboration with Blockchain901, the FedEx Institute of Technology will host a hacknight July 10 at 5:30 p.m. in the Fishbowl at the FedEx Institute. The hacknight will bring blockchain enthusiasts and professionals together to think through the challenges of Good Shepherd's blockchain resource development program.

"One of the most valuable resources universities can provide to the innovation ecosystem is the space to explore new ideas and opportunities in an unrestrained environment," said Cody Behles, assistant director of Innovation and Research Support at the FedEx Institute. "Memphis is attracting next-wave startups that recognize that setting up shop in traditional innovation markets like San Francisco is not always the best business decision. We are here to cultivate collaboration through aligned partnerships and amplification of opportunity."

Founded by Christine Fahey, Blockchain 901 has been instrumental in drawing world-class talent in blockchain to Memphis. Hosting monthly meetups at the FedEx Institute of Technology, Blockchain901 has been working to grow the technology workforce in Memphis by building connections and opportunities for collaboration.

"Blockchain technology represents a new era in technology innovation," Fahey said. "We are excited to help Memphis build the technology resources in this cutting-edge space."

A live stream of the hacknight will be provided for those wishing to learn more about Good Shepherd. Additional details, the live stream link and registration information are at the Blockchain901 meetup site: https://www.meetup.com/blockchain901/events/252181910/.

For information about the FedEx Institute of Technology, email fedex@memphis.edu.


Mary Ann Dawson | 901.678.1592 l mdawson@memphis.edu