IBM will now use it’s blockchain platform to track supplies of Cobalt from Democratic Republic of Congo. Furthermore, the enterprise is already deploying the blockchain platform built on the Hyperledger Fabric in multiple use case environments. It will now trace and track supplies of cobalt needed for electric cars and consumer devices.
The scheme will run parallel to motor company Ford, South Korean cathode maker LG Chem and China’s Huayou Cobalt. RCS Global, a leading multinational responsible sourcing company, will also support in monitoring 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,”
Manish Chawla , general manager at IBM’s Global Industrial Products Industry commented in the release.
“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.”
Bulk of the world’s cobalt supplies lies in Congo. Insurgencies and violence is quite common in Congo.
From IBM Vice President’s Desk
The blockchain scheme should help IBM 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, TradeLens, saw a further implementation with Saudi Arabia targeting cross-border trade