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Diversified Group of Natural Resources The Eurasian Resources Group, a founding member of the Global Battery Alliance, an initiative of the World Economic Forum, will pilot a blockchain-based solution built on the IBM Blockchain platform.
The pilot aims to improve traceability cobalt and the solution can be applied to other battery metals, helping to ensure a responsible supply chain for lithium ion batteries fueling the fourth industrial revolution; a mission of the Global Battery Alliance of the World Economic Forum.
The solution will initially be applied to the Metalkol Roan Tailings Reclamation, or RTR, operation in the Democratic Republic of the Congo to help improve the provenance and traceability of cobalt in the metal supply chain.
While cobalt and other metals such as copper, nickel and lithium lead the global battery industry, their extraction could entail high costs for the surrounding ecosystem, including the use of child labor and pollution that is exacerbated by the current lack of viable reuse and recycling systems. The solution based on blockchain helps to ensure that the material is traceable.
The blockchain therefore supports ERG Clean the cobalt structure to Metalkol RTR, a reprocessing plant for historic copper and cobalt residues from previous mining activities, which is about to be operational. At full capacity, the facility will supply 24,000 tpa of cobalt to the global market, sufficient volumes to power over three million electric vehicles per year.
"The ERG initiative to implement a blockchain solution
help stakeholders in the cobalt supply chain
transform entire business processes in the mining sector and help bring new ones
levels of trust, "says IBM Global
Executive partner of business services, Niels de Jongh.Leveraging
The digital capabilities of IBM allow the parties to develop the solution through a
interactive approach with clear attention to the business ", he adds.
"We are pleased to announce it on the eve of the discussions on the fourth industrial revolution at the annual meeting of Davos Cobalt is one of the key factors for the revolution and a material of the future, so it is imperative that it can be found in a sustainable way", he claims The CEO of the Eurasian Resources Group, Benedikt Sobotka, who is also co-chairman of the Global Battery Alliance.
"This blockchain-based solution will aim to enable
manufacturers confirm that the cobalt was purchased at Metalkol RTR from
aggregating the data and the necessary information on the raw material, "Sobotka
He adds.
Leveraging the blockchain platform of IBM
and competence, the platform will aim to determine the origin of the cobalt
along the entire supply chain, from extraction to production, a process that is
currently complex and expensive. The use of blockchain will allow tracing the origin of
cobalt through the supply chain, including once it has been to merge and
mixed, and reduce costs through efficient information sharing, and monitoring
transparency according to the highest standards.
"As a founding member of the World Economic Forum & # 39; s
Global Battery Alliance, ERG aims to create new industry standards. We
I am therefore pleased to pilot this innovative solution based on blockchain
on the IBM platform. In this way we can guarantee with certainty that the material
that customers buy is not stained with handcrafted material, "says Sobotka
Blockchain at a glance
Blockchain is a digital accounting system that brings new levels of trust,
transparency and speed to complex market systems, regardless of whether they are negotiated
systems, financial markets or global supply chains.
Leveraging the blockchain platform of IBM
and competence, the platform will aim to determine the origin of the cobalt
along the entire supply chain, from extraction to production, a process that is
currently complex and expensive. The use of blockchain will reduce costs
efficient information sharing, tracking and transparency according to the
the highest standards.
A blockchain network can help you unlock
vast potential for the cobalt supply chain.
Cobalt extraction based on blockchain
platform will be able to trace the origin of cobalt through the supply chain,
including once was to blend and mix.
