abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeblueskyburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfilterflaggenderglobeglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalitywebwhatsappxIcons / Social / YouTube
Article

11 Apr 2019

Author:
Jax Jacobson, Forbes

Blockchain technology is being utilised to support responsible sourcing

"Can blockchain apps ensure a responsible mineral supply chain?", 22 March, 2019

In [2010], the US passed the Dodd-Frank Act, which in Section 1502 included a requirement for any US firm to ensure that mineral resources they procured, including tin, tantalum, gold, and tungsten, was sourced responsibly and not for the enrichment of anyone involved in armed conflict... The EU has also adopted new import regulations on conflict minerals... [which] will apply to all EU-based companies from January 2021, requiring them to report their supply chain due diligence obligations on sourcing of tin, tantalum, tungsten and gold and ensure armed groups can no longer use these minerals as a way to finance warfare and human rights abuses.

... Some entrepreneurs see blockchain-based systems as the way forward to ensure responsible sourcing... MineSpider... has adapted bitcoin technology in a way that will allow companies to be confident in their sourcing, and be able to report their supply chain due diligence to governments, without disclosing their supply chains to competitors... [MineSpider has created] a system that allows certain recipients to read sensitive data, which allows mining companies to provide receipts that they've done their due diligence while also protecting their supply chain details... Circulor... has also created a system based on blockchain that allows mining companies ensure their minerals are responsibly sourced. [Circulor] has signed an agreement with the government of Rwanda and the Rwanda Mining Association, and says it is in discussions with Apple.

Privacy information

This site uses cookies and other web storage technologies. You can set your privacy choices below. Changes will take effect immediately.

For more information on our use of web storage, please refer to our Data Usage and Cookies Policy

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Analytics cookie

ON
OFF

When you access our website we use Google Analytics to collect information on your visit. Accepting this cookie will allow us to understand more details about your journey, and improve how we surface information. All analytics information is anonymous and we do not use it to identify you. Google provides a Google Analytics opt-out add on for all popular browsers.

Promotional cookies

ON
OFF

We share news and updates on business and human rights through third party platforms, including social media and search engines. These cookies help us to understand the performance of these promotions.

Your privacy choices for this site

This site uses cookies and other web storage technologies to enhance your experience beyond necessary core functionality.