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In a push to support human rights and environmental protection, IBM, Ford Motor Company, among other corporate magnates, will pilot a blockchain project to track minerals of ethical origin in the Democratic Republic of the Congo (DRC).
Blockchain to trace ethically soured minerals
Blockchain-based technology will be used to track the supply and distribution of minerals of ethical origin – cobalt, in particular, in the Democratic Republic of the Congo. According to the official version,
The blockchain pilot aims to introduce greater transparency in global mineral supply chains. Project participants are selection companies that represent each major phase 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 procurement standards, drawn up by the Organization for Economic Cooperation and Development (OECD).
In addition to the validation of the participants, the blockchain technology will also guarantee the immutability of the data, making the information accessible to all authorized participants in real time.
IBM Blockchain Platform
As the pilot scheme is already underway, the version also reveals that the project will use IBM's Blockchain platform based on Linux's Hyperledger Fabric.
IBM has been heavily invested in blockchain technology as the company has over 400 people working on projects that involve it. He has also been involved in other supply chain-oriented projects that revolve around the use of blockchain before.
Regarding the issue, Manish Cawla, GM, IBM's Global Industrial Products Industry, said:
With the growing demand for cobalt, this group has joined clear objectives to illustrate how blockchain can be used for greater assurance of social responsibility in the mineral supply chain. […] The initial work of 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 that enter our consumer goods.
What do you think of the project based on the blockchain to trace minerals of ethical origin? Do not hesitate to let us know in the comments below!
