Volkswagen Partners with Minespider to Provide Blockchain-Based Tech Solutions for Tracing Lead
The automotive giant Volkswagen aiming to bring transparency in the global supply chain for lead using blockchain technology. The collaboration between Volkswagen and Minespider is an outcome of Minespider’s top position during the “Hackathon for Supply Chain Transparency” held in 2018.
The main goal of the collaboration between the two platforms is to, optimize supply chains, eliminate sources of error and guarantee social and ecological standards.
The main project, however, will involve tracing the supply chain for the lead from either the mine or recycling company to the factory. As per the press release, the project will also include participation from ‘’suppliers and sub-suppliers that deliver more than two-thirds of the Group’s total lead starter battery requirements.’’
The Three-Layer Architecture
Because the solution developed by Minespider is a proprietary protocol built on a public blockchain, the protocol contains a multi-layer architecture that guarantees the safety of the supply chain data. The first layer of the protocol contains generally accessible information, whereas the second layer comprises of the private data blocks that cannot be manipulated or changed in due course. The third layer is the encryption layer.
Unlike on private blockchain platforms, the three-layer protocol builds a common digital infrastructure that allows for the transparent exchange of information. Volkswagen’s Head of Strategy Group Procurement, Marco Philippi believes that together with Minespider, the platform will use blockchain technology to ease the supply chain process, make it more transparent and at the same time enhance security.
“Digitalization provides important technological instruments that enable us to track the path of minerals and raw materials in cross-border supply chains in ever greater detail,’’ he said.
Nathan Williams, CEO of Minespider also believes blockchain implementing blockchain into the supply chain process will bring data transparency and security level a notch higher. If this pilot project becomes a success, Minespider intends to continue implementing blockchain technology for other materials and their supply chains.