Volvo seduced by the blockchain to follow the cobalt of its vehicles – Cryptonaute

After the success of a pilot project, the company Volvo has announced implement a global traceability, based on the blockchain, for the cobalt used in battery of its Car.

This summer, as part of a pilot, Volvo announced to turn to a traceability system developed on infrastructure blockchain ofOracle by the startup Circulor to follow the cobalt used in his lithium-ion batteries.

According to a statement released this morning, the car manufacturer has just reached an agreement with its two battery suppliers, the Chinese CATL and South Korean LG Chem, in order to trace the ore more generally in its supply chain.

While the company CATL will use the solution blockchain developed by Oracle and Circulor, its competitor LG Chem will turn to the technology proposed by the Responsible Sourcing Blockchain Network (RSBN) and IBM.

"We have always been attached to a ethical supply chain for our raw materials. Thanks to technology blockchainWe can take a new step forward to ensure complete traceability of our supply chain and reduce associated risks, in close cooperation with our suppliers, "commented Martina Buchhauser, Purchasing Manager at Volvo.

This announcement comes as the Swedish-born manufacturer unveils its first 100% electric vehicle, the XC40 Refill.

The cobalt is used to manufacture lithium-ion batteries that power a wide range of products such as laptops, smartphones and electric vehicles. According to Amnesty International, however, cobalt production is linked to human rights abuses, especially child labor in the Democratic Republic of Congo.

"The traceability of the raw materials used in the production of lithium-ion batteries, such as cobalt, is one of the main sustainability challenges faced by car manufacturers. Volvo Cars is committed to ensuring full traceability by ensuring that its customers can drive electric vehicles knowing that the battery components have been acquired responsibly, "explained Volvo.

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