Implemented by a Major Mining Group in Congo for ethical sourcing of Cobalt from the mine to the Electric Vehicle
Key Challenges •
Disputes and lack of transparency among stakeholders
•
Growing need to address ethical sourcing standards for certain minerals
•
Compliance issues: child labor, safety
hazard and illegal mining
Private & Confidential
Blockchain Solutions •
Provenance tracking – traceability solutions
•
Use of smart contracts to securely exchange critical trade documents, such as bills of lading and letters of credit
•
All parties involved in a transaction views up-
to-date data at all times
Private & Confidential
Benefits •
End-to-end tracking of minerals and ores throughout the
supply chain, address compliance, transparency and accountability
•
Swifter consensus on additional trade terms between parties
•
Reduce number of disputes and make resolution straightforward
•
Reduce errors -- overall transparency, eliminating the potential for malicious actors to take advantage of loose
record keeping
•
Improved immutability, security, speed and scalability
•
Improved brand identity and loyalty for EV manufacturers Private & Confidential
Lowered OPERATIONS COST •
Reduced reconciliation cost of
record keeping and validation between the Congo Mining
UP TO
company, Li ion battery •
30%
Real time visibility of records lowered rate of fraud, less spending
LESS
on fraud detection and prevention mechanisms
Private & Confidential
Saved Sourcing TURNAROUND TIME •
Real time document transfer – less paperwork
•
UP TO
Quicker validation and
40%
authentication of trade finance
documents
LESS
Private & Confidential
Power of Innovation ●
HashCash solution used Blockchain
technology which eliminated the need for multiparty reconciliation
●
HashCash solution is used by clients globally including banks, FIs, companies in
supply chain, manufacturing, gaming, Enterprises and Government verticals
Private & Confidential
Private & Confidential
Thank You