Volkswagen to launch a blockchain tracking system for its supply chain
The Volkswagen Group has formed a partnership with blockchain startup Minespider to launch a system that will track its battery supply chain.
According to the announcement, the partnership seeks to increase the transparency of Volkswagen’s supply chain process. This will give detailed information on where the components are made, where they came from, and who and how they are managed. It will also help with sustainability and regulatory compliance.
Marco Philippi, Head of Strategy for Volkswagen Group Procurement, said:
“Sustainability in the supply chain is one of our top priorities. We see blockchain technology as part of the solution to ensure compliance with environmental and social standards along the entire supply chain.”
The project will bring together suppliers and sub-suppliers who deliver more than two-thirds of the Volkswagen total lead starter battery requirements. While speaking to reporters, Nathan Williams, Minespiders’ CEO, stated:
“This [the pilot with Volkswagen] is the first step to proving that supply chain participants can work together to achieve greater transparency. As a new and emerging field, we expect to learn a lot more about the challenges and requirements of the industry and what is needed to get this adopted at scale.”
This is Minespider’s first pilot with Volkswagen. However, William said that the partnership would soon announce a few new projects including a consortium of Fortune 500 companies.
Volkswagen has been involved with various blockchain projects in the past. Last year in August the German Manufacturer shares its blockchain related plans on Twitter.
Last week Volkswagen announced that it intends to Join a blockchain powered scheme to ensure the cobalt used lithium-ion batteries for its electric vehicle is responsibly sourced.
That new platform, powered by the Linux Foundation’s Hyperledger Fabric, will ensure that significant companies can “trace and record the flow of minerals across the supply chain in near real-time.” Volkswagen explained, “Traditionally, miners, smelters and consumer brands had to rely on third-party audits and laborious manual processes to establish compliance with generally accepted industry standards.”
Last June, Volkswagen formed a partnership with carVertical for automotive blockchain apps. The partnership is expected to create an app to prevent used car fraud.
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