There’s more to come
Expect more manufacturers to follow Volkswagen’s path by integrating blockchain technology into their supply chain transparency efforts—with a particular focus on mining. For example, Ford Motor Co., has teamed with IBM, China’s Huayou Cobalt, and LG Chem to use blockchain to trace and verify ethically sourced cobalt, one of the minerals used in the lithium-ion batteries that power laptops and electric cars, Bloomberg reports.
“Tantalum, tin, tungsten, and gold, often grouped together in mining industry jargon as 3TG, are vitally important to the industrial economy, used in high-tech products from smartphones to jets,” Stefan Nicola writes in “Using Blockchain to Help Fight Conflict Minerals.” “But these conflict minerals, as they’re known, frequently follow a sketchy path from mine to factory, coming from mines whose profits flow to violent militias, criminals, and even terrorists.”
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