Volvo Cars using blockchain to track supply of cobalt to make batteries for electric vehicles

Briefing

Volvo Cars using blockchain to track supply of cobalt to make batteries for electric vehicles

August 6, 2019

Briefing
  • Cobalt Tracking Blockchain – Volvo Cars announced it will use digital ledger technology (DLT) to track supply of cobalt to make its electric vehicle batteries
  • Recycled Cobalt – Company also sourced recycled cobalt from China as an alternative from sourcing in Congo, which tend to use child labor
  • Testing – Tested blockchain technology for two months in China, tracking supply of cobalt from a Chinese recycling plant to Volvo Cars
  • Development – Technology developed by London-based Circulor based on Oracle’s blockchain designs

Accelerator
Batteries, Transportation and Mobility, Web3 Ecosystems, Tokens and Consensus Mechanisms

Market Disruption
Intelligent, Data-Optimized Supply Chains

Business Model and Practices

Business Model
and Practices
Data, Interfaces and Algorithms, Optimized Supply Chain

Sector
Information Technology, Transportation and Logistics

Function
Supply Chain and Logistics

Organization
AB Volvo, Circulor Ltd., Oracle Corp.

Source

Original Publication Date
August 5, 2019

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