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Drug Supply Chain Security Act (DSCSA) to address requirements to identify, track and trace prescription medicines and vaccines distributed within the United States. The IBM Blockchain Platform 2.5 is expected to further extend support of the U.S. The IBM Blockchain Platform is already working with KPMG, Merck and Walmart as key participants in the United States Food and Drug Administration’s (FDA) pilot program. Next 1 of 1,959 Multi-party systems in the Healthcare and Telecommunications Industries

With IBM Blockchain Platform 2.5, these multi-party systems offer a real-time, virtually tamper-proof data exchange to validate transactions in a transparent medium. Process Orchestration is the exact outcome of multi-party systems, progressing on the wheels of real-time approvals, escalations, and collaborative responses across enterprises.

The new order in the organization management calls for a total hauling of process management, disrupted via event-based orchestration, real-time analytics and reporting, logistics and supply chain management, and IoT connectivity. Multi-party systems represent the completely transformed traditional Supply and Operations Planning (S&OP) process.

Due to the COVID-19 pandemic, digitization efforts have been put on an accelerated route to take on new challenges arising due to redundancy and lack of data visibility across the various touchpoints within the enterprise.īlockchain tools, like the one developed by IBM, have the power to transform supply chains, providing “developers access to reliable, more trustworthy data and identifying entirely new uses cases on their own.” What are Multi-party Systems? For better preparedness across supply chains, business teams seek real-time visibility and monitoring dashboards to keep a check on private and public information and how they are shared. In the new era of connected workplace operations, enterprise collaboration and communications tools are emerging as the steady benchmarks of digitization. IBM 2.5 is created using Hyberledger Fabric 2.5, in tighter integration with Red Hat Open Shift for automated provisioning, management, and app scaling across enterprise applications. IBM Blockchain Platform 2.5 was announced at the IBM Think Conference in May 2020. The blockchain development platform will enable developers to shift to advanced multi-party systems and drive innovations in the enterprise Distributed Ledger Technology.