Blockchain Helps Tracking Another Conflict Resource

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Unfortunately, there are still war-torn places around the globe. Many of such places finance their conflicts with various precious materials produced locally. The most famous of those are definitely diamonds. Often called “blood diamonds” or “conflict diamonds” due to their use in financing various wars.

But there are many more resources used in a similar way. One example is tantalum, a mineral used in various electronic devices, like computers or smartphones. The world’s largest producer of tantalum is Rwanda, making the country an important player in the world’s consumer electronics market.

Now Circulor, a UK-based blockchain startup will help trace the mining of tantalum as well as its path along the supply trail.

“Our blockchain platform will empower consumers to understand where the materials in the products they buy come from and also make it harder for materials that are not ethically sourced to pass through the supply chain.  It will also dramatically reduce costs for miners who current shoulder a disproportionate share of the cost of compliance.”

Blockchain will be used not only to assist the miners but actually track and record every stage before the ready device reaches the customer.

This is yet another example of how blockchain technology makes the world a better place.

 

Images courtesy of Shutterstock.com

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