Today Volvo said it is investing in blockchain traceability firm Circulor. The two firms have already been working together on cobalt traceability, which is used in electric car batteries.
A large proportion of cobalt is mined in the Democratic Republic of Congo, where up to 20% of the mineral comes from artisanal mines with dangerous working conditions, sometimes including child labor. Hence there’s a need to demonstrate the mineral is ethically sourced.
“We are committed to an ethical supply chain for our raw materials and our partnership with Circulor has been instrumental in that regard,” said Martina Buchhauser, chief procurement officer at Volvo Cars. “By supporting Circulor’s ongoing development we can expand the use of blockchain technology in our operations and contribute to a more sustainable business.”
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