German automobile giant Mercedes Benz has announced that it will now begin applying blockchain technology in tracking carbon emissions. According to the official announcement, this will be done in partnership with blockchain firm Circulor, for emissions in the cobalt supply chain.
In the official news release, Mercedes says the project is focused on cobalt in the supply chain, coming from recycling plans. According to the announcement, the blockchain system will not only trace the production trajectory but also the carbon emissions that come with it. The blockchain product will also measure the exact amount of recycled material that passes through the supply chain.
In addition to this are safety and compliance measures. The Mercedes announcement states that the blockchain network will also measure the entire process for sustainability. This includes working conditions, environmental protection, safety, human rights, and business ethics of all participants in the chain.
Speaking on the new blockchain system, Mercedes-Benz AG Board Member Markus Schäfer suggests that the aim is to make the entire process as open and verifiable as possible.
“The key is transparency…We are the first manufacturer to use blockchain technology to map CO2 emissions in the global battery cell supply chain. In doing so, we are laying the cornerstone for effective improvements – for the environment and for our businesses”
Earlier this month, IBM announced plans to launch a blockchain-powered app to trace coffee.
Image Credits: Pixabay
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