IBM, one of the world’s tech giants, has launched a blockchain-based platform designed to help government agencies and healthcare organizations combat the coronavirus.

The platform called “IBM Rapid Supplier Connect” is built on the IBM blockchain and is designed to identify new suppliers in an effort to address shortages of medical equipment and supplies needed for the coronavirus relief effort.

Joining the network of buyers and suppliers is expected to take approximately 30 minutes, with industrial and technical support provided by the IBM Operational Support Center to help set up and capture the expected value from the network.

IBM also stated that the Rapid Supplier Connect platform will be available free of charge through August 31 to eligible buyers and suppliers within the United States and Canada.

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Technology company IBM has managed to bring in more than 200 suppliers, and IBM is looking to add hospitals and major health organizations.

The “IBM Rapid Supplier” platform is integrating the traditional supply chain within its blockchain network, whereby buyers in the “Rapid Supplier Connect” network will be able to benefit from a wider range of suppliers outside their traditional supply chain.

The platform also provides a streamlined process for suppliers with real-time validations and inventory details.

Suppliers benefit from reaching more customers and getting real-time user feedback on equipment and supplies.

In addition, IBM provides accurate inventory features and insights to health organizations short on essential supplies.

The Rapid Supplier Connect platform also integrates seamlessly with other supply chain networks and payment systems.

There is also an option for buyers to use third-party payment services for a fee, as well as an escrow system whereby funds are secured on behalf of buyers until the goods are delivered and the buyer verifies the order, after which the funds are released to the seller.

IBM has integrated its previous “Trust Your Supplier” blockchain solution in order to qualify and identify suppliers within the platform, which enables better vetting of vendors and provides transparency within the blockchain platform.

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IBM continues to drive the development of blockchain-based applications, and its latest solution showcases the potential of blockchain technology in the face of the coronavirus pandemic.

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