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Ford and IBM Have Сreated a Platform for the Supply of Cobalt on Blockchain

Blockchain

One of the leading auto giants of the planet – Ford, and the technology company IBM, which released such projects as LG Chem and Huayou Cobalt, jointly decided to control the delivery of cobalt from Africa. To do this, they have developed a new service, which is based on the blockchain.

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Professionals of both companies are forced to establish control over how this technological component is extracted, and whether illegal child labor is used. Organizations have to look for tracking methods to avoid reputational losses. Ford and IBM make the supply process transparent and prove that they get cobalt without violating human rights.

The implementation of the platform has begun in December 2018. The key task is to track cobalt from the moment it is shipped to the release of the next lithium-ion battery, which is impossible to create without this metal. The problem is that the main supplier of the substance is the Republic of the Congo. But there  illegal labor is always used. Organizations are often challenged that supplies are not transparent. This project will allow Ford and IBM to prove their “purity” to investors.

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