“Blockchain Plus Supply Chain Finance” Boosts Pharmaceutical Industry: A Case Study of Jixiangtian Blockchain Medical and Health Service Platform

Abstract

China’s pharmaceutical industry has enormous potential. With the launch of relevant state policies and the innovations being made on the financial front, the country’s medical industry has a closer tie with its financial institutions in the supply chain. On the other hand, the booming of supply chain finance provides excellent platforms for financial institutions, pharmaceutical companies and third-part logistics to interact with each other. Nevertheless, supply chain finance in a traditional sense is still facing many challenges. Taking Jixiangtian, a blockchain and medical service platform as an example, this paper illustrated the problems faced by the traditional pharmaceutical supply chain, and analyzed pharmaceutical supply chain platforms using blockchain technology to propose solutions to tackle the financial challenges faced by traditional supply chains.