Conflict Minerals: IBM, Ford, LG Chem Lead Blockchain Coalition for Ethically Sourced Minerals

Jan 16, 2019 | Dean Takahashi, Venture Beat
View Original

A coalition of companies led by IBM will use blockchain technology to ensure that the supply chain for minerals will be ethically sourced. The coalition includes Ford Motor, Huayou Cobalt, LG Chem, and RCS Global. We’ve all heard about “blood diamonds” and conflict minerals, where mined goods are used to fuel wars and human rights violations. This coalition means to do something about that by using the transparency and security of the decentralized ledger known as blockchain. It can use blockchain to verify the uniqueness of an item, such as a diamond or a lithium mineral, and track its shipment from a mine through the distribution channel to the ultimate buyer.