Volkswagen and blockchain startup Minespider are setting up a pilot project to achieve transparency in the global supply chain for lead. Blockchain technology makes it possible to trace the raw material back to the point of origin by means of digital certificates and the Volkswagen Group plans to use this technology for further raw materials and their supply chains.
Supply chain transparency is a major issue in many industries, including the automotive sector. Responsible raw material procurement is fundamental for sustainable mobility. Going forward, Volkswagen will be using blockchain, the technology behind various cryptocurrencies, to ensure more transparency and security in the supply chain. Starting in April, Volkswagen will be collaborating with Minespider to trace the supply chain for lead from the point of origin to the factory. The point of origin will be either the mine or the recycling source. The pilot project will involve suppliers and sub-suppliers that deliver more than two-thirds of the Group’s total lead starter battery requirements.
The collaboration Between Volkswagen and Minespider is the outcome of a “Hackathon for Supply Chain Transparency” held in 2018, where Minespider came out on top. During the event that is one element of the Volkswagen Group’s corporate citizenship, some 100 experts from various disciplines worked together to further develop innovative, digital solutions for more supply chain transparency. The hackathon series continues in 2019.
Head of Strategy Group Procurement Philippi:
“We will use this technology to make our processes more transparent and secure.”
- Optimizing supply chains
- Eliminating sources of error
- Guaranteeing social and ecological standards
- Blockchain-Based Travala.com Teams Up with Dash For Hotel Booking Payments - July 18, 2019
- SEC And FINRA Approves First Reg A+ Token Offerings - July 18, 2019
- Tokinex Tolken Sale Sells out in 35 Seconds - July 18, 2019
- 18 Organisations Launch The Convergence Alliance To Enable A New Open Data Economy Built On The Decentralized Web - July 9, 2019
- Bittrex Acquires Tradedash - July 3, 2019
- Korea’s Cube Systems Rolls Out New Blockchain eCommerce Platform - July 3, 2019
- Clinlogix Joins ALTEN Calsoft in Launching Blockchain for Clinical Trials - July 3, 2019
- Binance Charity forms alliance with 46 companies to unveil a stablecoin for the alleviation of period poverty - July 3, 2019
- Nestlé Breaks from IBM Food Trust Blockchain Group for New Milk Supply Chain Trial - July 3, 2019
- Tokeny Solutions Digital Asset Platform Gets €5 Million Backing from Euronext - July 3, 2019
- Blockchain Venture Capital Funding Reaches $822 Million in 2019 - July 1, 2019
- Toronto’s Creative Destruction Lab Joins Facebook’s Libra Association - June 19, 2019
- Australia’s Power Ledger to bring P2P Energy Trading to Austria - June 19, 2019
- Litecoin Foundation Teams Up With Bibox And Ternio On Special Edition Litecoin Debitcard - June 19, 2019
- US Legislators Call for Halt to Facebook’s Cryptocurrency Plans – And to Face Congress - June 19, 2019
- Hyperledger Welcomes Diverse Line-up of New Members for Identity Project - June 18, 2019
- Facebook Announces Calibra Digital Wallet and Libra Cryptocurrency - June 18, 2019
- MIT Professor Silvio Micali’s Algorand Project Announces Date for First Auction - June 6, 2019
- SEC sues Canadian Messaging Service Kik Selling Unregistered Securities in its $100 million ICO - June 4, 2019
- CrowdEngine Teams Up With Polymath Adding Security Token Issuance to List of Crowdfunding Services - June 3, 2019
Also published on Medium.