Home Blockchain IBM, Ford Blockchain Pilot Targets Cobalt Supplies From Democratic Republic of Congo

IBM, Ford Blockchain Pilot Targets Cobalt Supplies From Democratic Republic of Congo

Global technology giant IBM will use its blockchain platform to monitor and trace supplies of cobalt from the Democratic Republic of Congo, the company confirmed in a press release on Jan. 15.

IBM, which has already used the in-house IBM Blockchain platform built on the Hyperledger Fabric in multiple use case environments, will now target the rapidly expanding supplies of cobalt needed for electric cars and consumer devices.

The scheme will run in tandem with motor company Ford, South Korean cathode maker LG Chem and China’s Huayou Cobalt. RCS Global, a multinational responsible sourcing company, will also monitor the proceedings.

“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 general manager at IBM’s Global Industrial Products Industry Manish Chawla commented in the release. Chawla added:

“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.”

A pilot scheme is already in progress, the participants said, addressing the need to assure supply chain entities their raw materials are responsibly sourced.

The Congo, where the bulk of the world’s cobalt supplies lie, is at present a highly unstable country, with insurgencies and violence common. The blockchain scheme should thus tackle issues regarding child labor or similar exploitation, the press release notes.

“We remain committed to transparency across our global supply chain,” Ford’s vice president of global purchasing and powertrain operations Lisa Drake continued, adding:

“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.”

The plans are just one part of IBM’s total blockchain integration. Earlier this month, Cointelegraph reported on how the company’s other project, TradeLens, had likewise seen a further implementation with Saudi Arabia targeting cross-border trade.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Bitgo Plans to Launch Wrapped Bitcoin on the Tron Blockchain

Members of the crypto ecosystem will soon be able to leverage WBTC via the Tron (TRX) network. Just like the tokenized BTC created using Ethereum’s ERC20...

Ethereum’s Long Term Chart Is Extremely Simple To Read

The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple...

US Department of Transportation Says Blockchain Has Many Applications For Unmanned Aircraft Systems (Drones)

Blockchain technology could assist with adjusting and improving current technical challenges in the expanding business of commercial drone delivery, said the US...

Security tokens, blockchain settlement draw interest from institutions: MIT Bitcoin Expo panel

Amid growing competition between providers, institutions in the traditional finance space are looking at blockchain as another way to offer value to...

Networking 2.0 at Blockchain Life 2020

Make hundreds of connections at Blockchain Life 2020 The 5th Blockchain Life 2020 returns to Moscow on April 22-23 at the unique media...