Blockchain Powers Critical Initiatives From New York to Bahrain to Boost Embattled Supply Chains in Fight Against Covid-19

      Published on Friday, 1 May , 2020      1471      
Blockchain Powers Critical Initiatives From New York to Bahrain to Boost Embattled Supply Chains in Fight Against Covid-19

  • Business

New platforms using blockchain technology are helping healthcare professionals in the battle against Covid-19, which has triggered a rapid breakdown in supply chains across a number of industries.

IBM’s new initiative, Rapid Supplier Connect, speeds up the distribution of critical medical equipment by pairing buyers such as hospitals, state procurement divisions and pharmacies in the United States and Canada with new suppliers who have just entered the market.

IBM is providing its supplier blockchain services free of charge through August of 2020.

According to the announcement, suppliers and buyers currently joining the network include hospitals and other organizations. The Worldwide Supply Chain Federation is onboarding more than 200 American suppliers from its 3,000 global community members.

Northwell Health brings over 800 hospitals to the network. The organization is on the frontlines in the battle against Covid-19 as the largest health group in New York State. It leverages IBM’s blockchain to expedite purchases of critical medical equipment from new, non-traditional suppliers who have pivoted to address the shortage of equipment, devices and supplies needed to battle the coronavirus outbreak. The key is being able to verify the integrity of the supplies by carefully vetting producers, a challenge that requires speed while addressing immediate needs.

In addition to linking buyers with suppliers, Rapid Supplier Connect helps identify and redirect excess inventory to others organizations in need.

Bahrain’s MVC Global and its strategic partner Cox Logistics Group are tackling supply chain disruption due to Covid-19 by developing a blockchain-based initiative called “SmartHub”. The goal is to establish a safe and secure supply chain network for pharmaceuticals and food supplies to be housed in Bahrain and to serve the Middle East regional market.

SmartHub is designed to radically streamline bureaucratic systems that have traditionally slowed down the amount of time it takes to process orders and deploy shipments. As a next-generation logistics warehouse, it will integrate smart contracts and IoT sensors.

The hub, billed as the first-of-its-kind, is being configured to expedite customs clearance and fee payments giving customers the ability to track and trace transactions on a secure blockchain.

The network will extend to the entire Gulf Cooperation Council to move shipments across Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman.

Says Shaikha Dheya Bint Ebrahim Al Khalifa’s, MVC Global chairwoman,

“Due to the ongoing pandemic, the availability, authenticity and safety of pharmaceutical and agricultural food supply chains is a more urgent priority than ever before. We have been building a world-class team in Bahrain with a vision of positioning the Kingdom as a world leader in supply chain strengthening, sustainability and development.”

Category Business, Technology | 2020/05/01 latest update at 2:22 PM
Source : Daily Hodl | Photocredit : Google
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