Volkswagen Motor Company has announced it entered into a collaboration for the responsible sourcing of strategic minerals that will use blockchain “to increase efficiency, sustainability and transparency” in global mineral supply chains.
According to the announcement, the collaboration will enable the Volkswagen Group to gain greater insight into the provenance of cobalt used in lithium-ion batteries for e-vehicles and other types of minerals.
In addition to Volkswagen, other members of the collaboration are Ford Motor Company, Huayou Cobalt, IBM and LG Chem.
It is expected that the collaboration will further expand membership to focus on industries such as aerospace, consumer electronics and mining operations.
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