In line with a recent official ‘press release‘ published, Tech giant IBM would be employing its blockchain platform to observe and trace supplies of Cobalt from the Democratic Republic of Congo.
IBM, that has already used the in-house IBM Blockchain platform engineered on the Hyperledger Fabric in several use case environments, can now target the quickly increasing supplies of Cobalt required for electrical cars and other consumers devices.
This scheme will be executed with motor company Ford, South Korean cathode maker LG Chem and China’s Huayou Cobalt. RCS Global, will also be monitoring the proceedings.
“With the expanding demand for Cobalt, this group has been established with clear objectives to illustrate how blockchain can be employed for larger assurance around social responsibility within the mining supply chain,” the general manager at IBM’s international Industrial products industry named ‘Manish Chawla’ commented within the official release as :
“The initial work by these organizations would be employed as a precedent for the remainder of the industry to be more extended to assist guaranteed transparency around the minerals going into our buyers goods.”
A pilot scheme is already setup, the participants aforementioned, addressing the requirement to assure supply chain entities their raw materials are responsibly sourced.
The Congo, where the majority of the world’s Cobalt supplies lie, is nowadays an extremely unstable country, with insurgencies and common violence. The blockchain scheme ought to thus tackle problems such as child labor or similar exploitation, the release further added.
“We stay committed to transparency across our international supply chain,” Ford’s V.P. of global purchasing and powertrain operations named ‘Lisa Drake’ continued , explaining:
“By collaborating with another leading industries within this network, our intent is to use progressive technology to confirm materials produced for our vehicles can help meet our commitment to protect human rights along with the environment.”
The plans are solely just a part of IBM’s total blockchain integration. Earlier this month, company’s another project named TradeLens, had likewise seen an expanding implementation with ‘Saudi Arabia’ targeting ‘cross-border trade‘.