, it’s helping companies ensure that the raw materials in their products are sourced ethically and in compliance with regulations by tracing materials through the entire supply chain, from their origin to the finished product.
No central authority governs the entire supply chain, so it’s not possible to require that all parties use a single tracking and compliance database, Johnson-Poensgen says. So Circulor uses blockchain to store an immutable record of the material’s path through the supply chain, together with smart contracts that apply consistent rules that each party must follow before it can pass the material to the next company in the chain, he says.
Rwanda is the world’s largest tantalum exporter. The problem is that the mineral could be smuggled in from neighboring Congo, where it’s often mined by children or slave labor. As a result, US and EU regulations require companies to trace and report the source of the tantalum they use and demonstrate that it has been responsibly sourced. But before blockchain, it wasn’t possible for them to create a foolproof traceability system, which led to a black market for the mineral.
At the mine, a smartphone app uses facial recognition technology to verify that the tantalum originates with a registered user. The phone’s GPS coordinates record the source, and other documentation methods, such as taking photos and using handheld mass spectrometers, provide additional verification. The system creates a QR code that identifies the source, which is attached to a tamper proof bag containing the ore, ready for scanning by the next company in the chain.
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