Corporate moguls, among which IBM and Ford Motor Company, have teamed up on a blockchain pilot to track ethically sourced minerals in Congo. The pilot’s already in process.
IBM, Ford Teaming Up on a Blockchain Pilot
Marquee companies have joined forces on a mission to halt ethically sourced minerals and increase compliance throughout the entire supply chain of cobalt mining in the Democratic Republic of Congo (DRC).
The pilot’s already in process and includes marquee companies representing each major stage of the supply chain, according to the official press release. These include IBM, Ford Motor Company, LG Chem, Huyaou Cobalt, and RCS Global.
The aim is also to explore the creation of an industry-wide blockchain platform which could be used to trace and to validate a range of minerals which are used in various consumer products.
Much Needed Transparency
The usage of blockchain-based technology will guarantee that each participant in the network will be thoroughly validated against the responsible sourcing standards. The latter will be developed by the Organization for Economic Cooperation and Development (OECD).
According to the release, blockchain technology will allow for a transparent network of validated participants, as well as immutable data which can be accessed by all of the permissioned participants.
Blockchain technology can also help participants handle compliance requirements, hence elevating the state of the entire supply chain in the process.
The platform is built on IBM’s Blockchain Platform and it is powered by Hyperledge Fabric by Linux.
Speaking on the matter was Lisa Drake, VP of Global Purchasing and Powertrain Operations at Ford Motor Company, who noted:
We remain committed to transparency across our global supply chain. […] By collaborating with other leading industries in this network, our intent is to use state-of-the-art technology to ensure materials produced for our vehicles will help meet our commitment to protecting human rights and the environment.
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