Volkswagen Group has announced plans to use IBM blockchain tech to track supply chains.
In such a way, the German automaker joined an open industry collaboration for the responsible sourcing of strategic minerals to provide a permanent record of mineral movements in accordance with responsible sourcing standards set out by the Organization for Economic Cooperation and Development (OECD). Ford Motor Company, IBM, Huayou Cobalt, RCS Global and LG Chem announced the collaboration earlier this year.
The new IBM Blockchain-based Platform is powered by the Linux Foundation’s Hyperledger Fabric and designed to provide easy access for interested parties of all sizes and roles in the supply chain.
Participants in the network, validated by RCS Global Group for compliance with responsible sourcing standards, can contribute and access immutable data in a secure and permissioned way to trace and record the flow of minerals across the supply chain in near real-time.
“Participants in the network, validated by RCS Global Group for compliance with responsible sourcing standards, can contribute and access immutable data in a secure and permissioned way to trace and record the flow of minerals across the supply chain in near real-time,” VW said in its announcement.
