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How the need for secure supply chains is propelling blockchain


How the need for secure supply chains is propelling blockchain
A PwC study predicts that blockchain’s ability to track provenance will contribute US$962 billion to global GDP over the next decade.
Photograph by Marcus Chung
When several large automakers considered how to confront a looming sustainability problem, they turned to blockchain. The issue? Even as electric vehicles (EVs) penetrate the market in growing numbers, with global sales jumping 40 percent year-on-year in 2019 according to the IEA, questions around the ethical sourcing and disposal of their batteries have lingered.
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by Anil Khurana, Roger Wery, and Amy Peirce
In response, Volvo and BMW are using blockchain technology to track the raw materials used in EV lithium-based batteries from the source. This includes the mining of the key component, cobalt, which has historically been marred by child labor and other human rights abuses. Mercedes is working on a pilot blockchain p ....

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