HashCash Coinsultants Announces Partnership with a Group of International Automobile and Battery Manufacturers to create a system to track the supply of rare metals on the blockchain.
The group will track the origin of rareminerals mined in the Democratic Republic of the Congo. We are talking about elements such as cobalt, lithium and tungsten, used in the manufacture of batteries and automobiles. Child labor is often used in mines in the Congo — according to the UN, 168 million children are used in the world, while 40,000 children work in cobalt mines in the Congo.
Using their HashCash System and Partnersthey are going to trace the origin of rare-earth elements and make sure that child labor was not used in their extraction. They also want to verify that the entire supply chain is in compliance with local laws.
Note that this is not the first platform fortracking cobalt supplies. So, in April of this year, one of the largest automotive concerns in the world Volkswagen joined the platform built on the IBM blockchain.