IBM and Sichuan Hejia Co., Ltd. have announced the launch of a blockchain-based, supply chain financial services platform for pharmaceutical procurement. Designed to help improve efficiency, transparency and operation of supply chain finance, the Yijian Blockchain Technology Application System is a permissioned blockchain platform that uses Hyperledger Fabric.
The platform is in production with Hejia, a pharmaceutical retailer, a hospital and a bank running business transactions. In July, Hejia plans to expand the platform to include multiple pharmaceutical retailers, hospitals and banks. The system is aimed at eliminating some of the financing challenges in the pharmaceutical industry.