BMW for ethical cobalt production on the Blockchain

The German automotive group BMW want to relate to Cobalt in the future of ethical production facilities. To ensure a transparent production line, want to use the car manufacturer on a Blockchain.

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3. July 2019BTC$11.926,00 5.24%part Facebook Twitter LinkedIn xing mail

A Blockchain is, at its core nothing more than a forgery-proof database. In short: the entries that have made it to the Blockchain, it can not be changed in the Wake of individual actors. When and where is the use of a Blockchain as useful, it can be quite contentious.

The one Extreme, it is called "Bitcoin Maximalists", holds "the Blockchain" for a license term. A use is justified, therefore, only then – and even feasible – if those who ensure the network integrity, a financial incentive to be Good. In financial systems such as Bitcoin.

On the other hand, the purposes are companies like Hyper Ledger, just in the industry – for example, in the Supply-Chain-Management – for to be useful.

Blockchain for transparency

among the latter category also BMW. Because as issued a press release stating plans of the Bavarian automotive group, in the future, completely ethically produced cobalt-back to access. A complete proof of the production of the metal to provide, will BMW take all the information on a Blockchain.

Instead of the Congo want to use the BMW for its production lines 2020/21, only cobalt from Australia and Morocco.

With the launch of the fifth Generation of our electric vehicles from the year 2020/21, we will no longer refer to cobalt from the Congo,

BMW's Board of management Andreas Wendt told the local newspaper automotive production.

Blockchain-use in the entire value-added conceivable

in Particular, the Congo, however, is for its inhumane working conditions. Children work in the Central African state, which is one of the poorest in the world, a big Problem. The automotive group is afraid of, apparently corresponding to the image damage, should BMW holding on to the cobalt from the Congo. The metal BMW can not do without, however. Finally, automotive manufacturers need the raw materials for the production of batteries for electric vehicles.

compared To BTC-ECHO confirmed the BMW Group, the use of Blockchain technology for various use cases. This would, for example, an end-to-end transparency in multi-stage supply chains. The origin of the individual components could be flawlessly clear. A pilot project for this has brought the automobile manufacturers are already on the way to the end of 2019 there will be concrete results to a possible group-wide deployment of the technology.

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