Why Ford Believes Blockchain Can Help Fight Child Labor

Automotive giant Ford has entered a partnership with IBM, Huayou Cobalt, and LG Chem to build a blockchain platform to monitor the supply of cobalt from the Democratic Republic of Congo as part of an attempt to ensure that child labor does not make up any part of its supply chain.

Announced on Wednesday, the project, which will be managed by the global responsible-sourcing consultant RCS Group, will use IBM’s proprietary blockchain platform to monitor cobalt supplies used in the production of lithium-ion batteries.

The move comes at a time when other primary production industries are also exploring blockchain technology as a potential solution for effective supply chain tracking to ensure that minerals sourced from conflict zones or using child labor in poor countries such as the DRC do not enter the global market. In October, CCN reported that Alrosa, the world’s second largest diamond mining company joined Tracr, a blockchain-based supply chain monitoring system developed by diamond mining giant De Beers Group.

Reference: https://www.ccn.com/why-ford-believes-blockchain-can-help-fight-child-labor/

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