Blockchain for supply chain management is one of the most practical business applications for large, multi-party sectors seeking trust and transparency across daily operations. As such, the mining and metals sector has now started to leverage blockchain technology to effectively track carbon emissions across complex, global supply chains.
In December, The World Economic Forum launched a proof-of-concept to trace carbon emissions across the supply chains of seven mining and metals firms. Known as the Mining and Metals Blockchain Initiative, or MMBI, this is a collaboration between the WEF and industry companies including Anglo American, Antofagasta Minerals, Eurasian Resources Group, Glencore, Klöckner & Co., Minsur, and Tata Steel. Jörgen Sandström, head of the WEF’s Mining and Metals Industry, told Cointelegraph that the distributed nature of blockchain technology makes it the perfect solution for companies within the sector looking to trace carbon emissions: “Forward-thinking organizations in the mining and metals space are starting to understand the disruptive potential of blockchain to solve pain points, while also recognizing that the industry-wide collaboration around blockchain is necessary.” According to Sandström, many blockchain projects intended to […]