Volvo wants be the first automotive manufacturer to use blockchain technology.
Company has taken measures to ethically obtain batteries.
It wants to address the important challenge of ensuring that resources are obtained with full transparency and traceability.
The automaker claims that reducing the CO2 emissions alone is not enough to make the real difference in sustainability.
It focuses mainly on obtaining the car battery in an ethical way and that is – full traceability of battery materials such as cobalt and this is a major sustainability challenge for manufacturers.
“At Volvo Cars, we are committed to an ethical supply chain. And as the first car maker, we now take that commitment even further by using blockchain technology to monitor and trace our cobalt through the whole supply chain on a global level. This technology significantly boosts transparency of the raw material supply chain. And most of all: it helps us ensure that the cobalt used in our electrified cars is sourced responsibly.“ said Volvo
Volvo posted last Wednesday’s video: Discover how we’re using blockchain technology to increase transparency in the way we source our materials.
We keep our fingers crossed for Volvo and we believe that BLOCKCHAIN will not be missing from any car manufacturing company.