In a push to support human rights and environmental protection, IBM, Ford Motor Company, amid other corporate moguls, will pilot a blockchain project to track ethically sourced minerals in the Democratic Republic of Congo (DRC).
Blockchain to Track Ethically Sourced Minerals
Blockchain-based technology will be used to track the sourcing and distribution of ethically sourced minerals – cobalt, in particular, in the Democratic Republic of Congo. According to the ,
The blockchain pilot aims to introduce more transparency into the global mineral supply chains. Participants in the project are marquee companies representing each major stage of the supply chain. These include Ford Motor Company, Huayou Cobalt, IBM, RCS Global, and LG Chem.
Each of the participants in the designated network will be validated against the necessary sourcing standards, as developed by the Organization for Economic Cooperation and Development (OECD).
Besides participant validation, blockchain technology will also guarantee data immutability, making information accessible by all permissioned participants in real time.
IBM’s Blockchain Platform
As the pilot scheme is already in progress, the release also reveals that the project will use IBM’s Blockchain platform powered by Linux’s Hyperledger Fabric.
IBM’s been heavily invested into blockchain technology as the company has over 400 people working on projects involving it. It’s also been in other supply chain network-oriented projects revolving around the usage of blockchain before.
Speaking on the matter was Manish Cawla, GM, Global Industrial Products Industry at IBM, who said:
With the growing demand for cobalt, this group has come together with clear objectives to illustrate how blockchain can be used for greater assurance around social responsibility in the mining supply chain. […] The initial work by these organizations will be used as a precedent for the rest of the industry to be further extended to help ensure transparency around the minerals going into our consumer goods.
What do you think of the blockchain-based project to track ethically sourced minerals? Don’t hesitate to let us know in the comments below!
Published at Wed, 16 Jan 2019 19:00:19 +0000
