- Home >> Features >> Technology
Chinese-owned Volvo using blockchain-mapped recycled cobalt
- Monday | 5th August, 2019
LONDON (Reuters) – Volvo Cars, owned by China’s Geely, has produced the first cars containing recycled cobalt mapped using a blockchain, and has joined a separate project to monitor cobalt from Democratic Republic of Congo, Volvo said. In emailed comments on Friday, Volvo said it had completed the first blockchain, using recycled cobalt in China. “It tracked cobalt from a Chinese recycling plant to Volvo Cars Zhejiang over a two-month period to June 27,” Volvo said, adding its aim was “full transparency and traceability”. The blockchain has been developed by British blockchain specialist Circulor using technology from U.S. company Oracle and is expected to be rolled out widely this year. Among battery minerals, cobalt is particularly challenging because around two thirds of all supplies are from Democratic Republic of Congo, where governance challenges are extreme.
If You Like This Story, Support NYOOOZ
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
