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Volvo jumps on the Blockchain-train – next Stop: fair cobalt

Volvo goes Blockchain. At least with regard to the procurement of the conflict, raw material, cobalt. The car manufacturer follows the model of Ford and BMW. B

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Volvo jumps on the Blockchain-train – next Stop: fair cobalt

Volvo goes Blockchain. At least with regard to the procurement of the conflict, raw material, cobalt. The car manufacturer follows the model of Ford and BMW.

By Christopher clover
6. August 2019BTC$11.752,00 to 0.47%part Facebook Twitter LinkedIn xing mail

The car maker Volvo, the Blockchain technology to its supply chain for the metal is cobalt better tested monitor. The item comes in the ubiquitous Lithium-ion batteries. Because of its in Parts of exploitative conditions for Mining the rare metal is considered to be conflict-prone raw material. Against this Background, the Recycling of cobalt is gaining more and more importance.

In a pilot project, Volvo has built the first verifiably "conflict-free" cobalt in car batteries. The news Agency Reuters reported, citing an E-Mail from the company. It States:

[Volvo] followed cobalt from a Chinese recycling plant to Volvo Cars to Zhejiang for a period of two months leading up to 27. June.

In the foreground had then been "full transparency and traceability". A particular way is likely to have placed the recycled cobalt back. Even if not explicitly called, it is likely that the said "Chinese Recycling plant" to the company Huayou Cobalt, which is also located in the province of Zheijang.

the Blockchain-solution has been Developed by the British Blockchain-Start-up Circulor. Circulor worked with the US-American IT-company Oracle. To Reuters Circulor-chief Doug Johnson-Poensgen confirms that the Blockchain technology is not a cure-all recipe:

No technology can replace the duty of care completely. You will improve the enforcement of standards by you is not visible, if something is not working as intended,

so Johnson-Poensgen to the news Agency.

The cobalt-Blockchain: Volvo follows the competition

in addition, the German automotive group has adopted BMW, the tracing of cobalt. Until the beginning of July, the car maker from Munich, known for its electric vehicles starting in 2020/21 no cobalt from the Congo – where his removal is under particularly inhumane conditions – to want to relate to. Instead, the car maker plans to get the useful metal exclusively from Morocco and Australia.

Also, Ford has adopted the cross with the cobalt. So the American car tested manufacturers the Blockchain technology for the tracing of cobalt. Ford relies on a Blockchain platform in terms of Blockchain technology is particularly busy IT company IBM.

Ford and IBM plan to work together with Huayou Cobalt, and LG, the Blockchain technology Chem for the traceability of minerals from ethically acceptable sources. The project is under the supervision of RCS Global, a firm of auditors with a focus on responsible procurement management.

Volvo has confirmed to Reuters, to join the Initiative.

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