IBM is partnering with China’s Sichuan Hejia to launch a blockchain supply chain finance platform aimed at the pharmaceutical sector.
The partners describe the Yijian Blockchain Technology Application System as a “permissioned blockchain platform using Hyperledger Fabric”. So far the new platform is in use by unamed clients which include a pharmaceutical retailer, a hospital and a bank. In July, Hejia plans to expand the platform to include multiple pharmaceutical retailers, hospitals and banks.
Leng Tianhui, Chairman of Hejia, said, “The launch of the supplychain financial services platform marks a milestone for the cooperationbetween Hejia and IBM on the innovative application of blockchain technology. In the future, the platform will expand to include more industries to provide participating companies and financial institutions with transparent and efficient financing services built on blockchain-based innovation in abusiness model that will contribute to China’s economic development.”
“IBM offers an enterprise-grade blockchain platform built on the Hyperledger Fabric that helps clients define and develop new industry use cases,” said Gregor Pillen, Managing Partner, IBM Greater China Group Global Business Services.
Hyperledger Fabric is an open source blockchain framework and one of the five Hyperledger projects hosted by The Linux Foundation.