IBM ramps up China blockchain work with supply chain trial

© Monsit Jangariyawong

Hot on the heels of tying up a joint-venture with Maersk to introduce more blockchain activity to the container shipping sector, IBM has come together with Chinese supply chain firm Hejia to run a blockchain trial for the pharmaceuticals supply chain, and particularly address China’s “underdeveloped credit evaluation system”, which, it argues, “can make it difficult to raise short-term capital”. What this means in practice is that smaller retailers which supply drugs to Chinese hospitals will get paid quicker, thus accelerating the velocity of a supply chain in which speed can mean the difference between life and death.