⛓️ Volvo will use blockchain to make sure its cobalt wasn’t mined by children
The data in the blockchain will include the cobalt's origin, attributes like weight and size, as well as the chain of custody.
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Volvo recently revealed its first fully-electric car, the XC40 Recharge, And they wants to make sure the raw materials in its lithium ion batteries are sourced responsibly.
For that, it's turning to blockchain.
Volvo Cars will work with its two global battery suppliers, CATL of China and LG Chem of South Korea, and blockchain technology firms to trace its cobalt production.
The data in the blockchain will include the cobalt's origin, attributes like weight and size, as well as the chain of custody.
"We have always been committed to an ethical supply chain for our raw materials," Volvo Car's Head of Procurement Martina Buchhauser said in a statement.
"With blockchain technology we can take the next step towards ensuring full traceability of our supply chain and minimising any related risks, in close collaboration with our suppliers."
Read more at Engadget.
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