Blockchain pilot launched to boost cobalt transparency
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Ford is start the use blockchain to trace the cobalt for mine in the democratic Republic of Congo car manufacturing plant in USA. For this, Ford do collaboration with IBM to setup every blockchain platform to track the minerals and build batteries. It provides transparency on human rights and environmental standard including Cobalt supply chain.
Cobalt is high in demand at the current time. Demand is surely increased eightfold by 2026. Due to the rise of electric car and consumer services, blouse and the best way to manage and trace mineral supply. From last year board announced its plan to launch fully electrical vehicle by 2020.
Buy collaborating with other leading industry in this network, the Ford main aim is to use cutting edge technology to ensure mineral produce for vehicle will help to match the commitment to protecting human rights and environment. Blockchain can be used for greater show around the Social Responsibility in the supply chain as the demand of Cobalt grows.
The main work will be used as a design for the rest of the industry to be further extended to add insurance when see around the mineral supply chain going into consumer goods. It is expected to expand beyond cover conclude the battery metal and raw materials including minerals like 10th, tantalum, tungsten and gold as well.
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