Connect with us


VolksWagen Turns to IBM Blockchain for Mineral Tracking

Saad Ullah



Volkswagen, the German automobile manufacturer, has announced it will be using IBM’s blockchain to track minerals for its batteries.

Blockchain Cobalt

Volkswagen groups said in its announcement that it will be using IBM’s blockchain to ensure that minerals it acquires, such as cobalt for its batteries for electric vehicles, are “responsibly source[d]”.  Current practices of acquiring cobalt and other minerals rely heavily on third party inspections and other time intensive processes that involve inspections of mines and ore processors where the minerals come from.

Africa, being one of the largest suppliers of battery raw materials, is particularly troublesome since the level of poverty has led to a spread of child labor, with mines even turning to modern day slavery.

The use of IBM’s blockchain means Volkswagen will be able to track the complete supply chain and be able to provide an immutable record throughout the process. This would help to achieve standards set by the Organization for Economic Cooperation and Development (OECD).

The application of the blockchain was highlighted by Volkswagen in its announcement, “Participants in the network, validated by RCS Global Group for compliance with responsible sourcing standards, can contribute and access immutable data in a secure and permissioned way to trace and record the flow of minerals across the supply chain in near real-time.”

Future plans for the car manufacturer include expanding the use of blockchain for its other operations, such as consumer electronics and even aerospace.

IBM’ Blockchain

IBM, as a tech giant, has worked increasingly in developing enterprise level applications for blockchain. Volkswagen joins the current platform in which Ford is also a participant. Both vehicle manufacturers are using the blockchain for tracking minerals that are used in the batteries of their electric vehicles. LG Chem, a chemical division of LG electronics, is also a member.

IBM has used blockchain for many other processes, including partnering up with hard disk manufacturer Seagate to fight counterfeit products and blockchain based oil supply chain with Abu Dhabi National Oil Company



Continue Reading
Advertisement Buy Women Dresses
Cryptocurrency4 days ago

The Path to Crypto Trading Starts With Knowledge: A Brief Guide to Crypto Trading

Markets5 days ago

By 2025, Wearable Artificial Intelligence (AI) Market to see 30%+ growth to hit US$180 billion

Blockchain2 weeks ago

Starbucks Uses Microsoft Azure Blockchain for Transparent Coffee Sourcing

Blockchain2 weeks ago

PepsiCo Trials Blockchain Advertisment, Boosts Supply Chain Efficiency by 28%

Blockchain2 weeks ago

IBM Helps Netherland Against Bicycle Theft Through Blockchain

Blockchain2 weeks ago

Satoshi Nakamoto Live Unveiling on 14th May? This Site Says So

Blockchain2 weeks ago

Facebook Seeks USD 1 Billion in Investments for its Stable Coin, Talks With Visa, MasterCard

Blockchain2 weeks ago

New Washington State Bill Recognizes Legality of Blockchain Data

Blockchain2 weeks ago

FedEx CIO Believes Blockchain Will Become “Essential” for Businesses

Blockchain3 weeks ago

HTC Will Launch Blockchain Smart Phone Exodus’ Successor This Year

Blockchain3 weeks ago

Jaguar Land Rover to Reward Car Owners With Iota for Data Sharing

Blockchain3 weeks ago

Japanese Premiere Wants a Cryptocurrency Governance Manual

Banking3 weeks ago

JPMorgan Flexes its Blockchain Wings As It Plans to Widen Use of IIN

Banking3 weeks ago

Cross Border Payments Through Ripple By Saudi British Bank (SABB)

Blockchain3 weeks ago

Philip Morris Wants to Use Blockchain for Validating Tax Stamps

Blockchain3 weeks ago

Nike Files Patent for Term “Cryptokicks” in U.S.

Blockchain3 weeks ago

Brazilian Confectionery Firm Roma Wins Patent for Bitcoin, Will Manufacture Chocolate Coins

Trading News3 weeks ago

Disney Interested in Buying Nexon, Might End Up Owning Bitstamp and Korbit Exchanges

Blockchain3 weeks ago

Anonymous Source Says Samsung Building Own Blockchian, Samsung Coin

Banking3 weeks ago

French Societe Generale Group Issued $112 million Worth Cover Bonds on Ethereum Blockchain

Like us on Facebook

The Trending Posts

Pin It on Pinterest

Share This