British-Swiss commodity trading and mining company Glencore will use an IBM-developed blockchain solution to track cobalt. In a press release issued on Dec. 12, Glencore confirmed it had joined the Responsible Sourcing Blockchain Network (RSBN), a joint partnership between various major corporations leveraging the technology to improve supply chain transparency. Glencore: blockchain aids good practice RSBN is the brainchild of global sourcing audit and advisory RCS Global Group. It uses the IBM Blockchain platform and is powered by Hyperledger Fabric. “RSBN plays a key role in advancing the sustainable partnership between the producers of commodities that will enable the transition …

Blockchain, like many other emerging technologies, is enthusiastically touted as a solution to many of the world’s problems. Perhaps because of its relation to cryptocurrency or the narrative prophecies that surround them both, blockchain draws both criticism and praise from a staggering array of sectors. However, with the big blockchain push from Chinese President Xi Jinping along with many tech, finance and industry giants piloting blockchain implementation, the number of use cases grows with each passing day. While cryptocurrency more often draws ire from the mainstream financial world, it seems that for blockchain, the sky’s the limit — but not …

The implementation of blockchain technology in supply chains could save businesses in Western Europe $450 billion in logistics-related costs. According to a new study from Cointelegraph Consulting and Swiss enterprise blockchain firm Insolar, blockchain technology can reduce supply chain-related costs for businesses between 0.4% and 0.8%. While that may sound like a small figure, the sheer volume of the sector means that this percentage translates into a potential hundreds of billions in savings. Furthermore, the report claims that the technology will pay for itself: “94% of supply chain leaders say digital transformation will fundamentally alter supply chain management. In the …

Cointelegraph, the leading publication for blockchain and cryptocurrency news, has announced the launch of its Cointelegraph Consulting division. The new business sector is focused on advancing enterprise blockchain adoption by helping companies understand the potential of blockchain technology and then matching them with enterprise blockchain vendors to implement solutions. According to Gartner, the business value added by blockchain will grow to more than $176 billion by 2025. This number is expected to exceed $3.1 trillion by 2030. While the growth of enterprise blockchain is on the rise, traditional consulting firms are just becoming familiar with the blockchain space. Given Cointelegraph’s …

The food industry could save up to $31 billion in global fraud savings by tracking food on its way from farms to consumers via the blockchain. A Nov. 25 study by Juniper Research reveals that blockchain technology, in combination with Internet of Things (IoT) sensors and trackers, will greatly reduce retailers’ costs by streamlining supply chains, while simplifying regulatory compliance, offering more efficient food recalls, and tackling fraud. The study points out that the increased adoption of blockchain and IoT in the supply chain industry will add significant value to the food business’s supply chain. By stacking these innovative technologies, …

Big Four audit firm KPMG has officially launched a blockchain-based track and trace platform in Australia, China and Japan. Dubbed KPMG Origins, the tool is designed to increase transparency and traceability of processes in multiple industries such as agriculture, manufacturing and financial services, the firm announced on Nov. 28. The official launch of KPMG Origins in Australia, China and Japan comes after successful pilot implementations with clients in those countries, the press release notes. Trial participants include Cane Growers and SunRice Incorporating a number of emerging technologies like blockchain and the Internet of Things, KPMG Origin intends to improve supply …

Salmon farming company Cermaq and smoked salmon producer Labeyrie began using IBM’s cloud blockchain technology to trace their product supply chains. Cermaq announced the development in a Nov. 20 press release, revealing that it cooperated with Labeyrie and IBM’s blockchain platform IBM Food Trust to enable customers to get information about the salmon value chain. All Cermaq salmon products now come with a CV and QR-code, so consumers can check details such as: “... [fish] origin, when it was hatched, which fresh water facility it came from, how big it was when it was transferred to seawater, at which sea …

Blockchain company HashCash Consultants has announced a partnership with a group of international car, mining and battery manufacturers to develop a blockchain-based supply chain network to track minerals. As Business Insider reported on Nov. 18, the parties are planning to build a blockchain-based supply chain system to trace ethical sourcing of minerals used in car and battery production such as cobalt, tungsten and lithium. By doing this, the companies aim to address child labor for mining operations. Addressing child labor in minerals mining The planned network is set to bring more transparency to the entire supply chain of minerals specifically …

Retail giants Carrefour and Nestlé are now using IBM’s Food Trust blockchain platform to track the supply chain of milk-based formula for infants, according to a Nov. 14 announcement. By using the platform, the firms aim to advance consumer confidence in the products’ quality by ensuring more transparency of the entire supply chain of formulas produced by Laboratoires Guigoz. The system aims to improve supply chain transparency and conduct checks of infant nutrition products’ origins. Implementation of blockchain-based tracking systems by retail giants Both Carrefour and Nestlé are not new to the application of blockchain in their internal processes. The …

Walmart Canada — the retail giant’s Canadian branch — has rolled out an automated blockchain-based network for freight tracking and payments management, according to a Nov. 14 press release. The new system, which was developed in collaboration with blockchain company DLT Labs, is designed to improve freight and payment processing, enabling users to automatically trace deliveries, verify transactions and handle payments and reconciliation. Integration with each company’s legacy systems The release further states that the network can be integrated with a business’s legacy system and “manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating …

American logistics giant UPS has successfully delivered a blockchain-verified beef shipment from the United States to Japan. The company partnered with agritech firm HerdX to incorporate its packaging technology into a blockchain network to trace the journey of beef from Kansas to Japan, the firm announced on Nov. 11. As announced by UPS, the jointly-delivered shipment involved a blockchain partner network developed by HerdX. Meanwhile, UPS provided its visibility tool that integrates with HerdX's blockchain technology and records live updates, registering details throughout the journey. U.S. Embassy and Japanese officials checked the blockchain-recorded beef The pilot was supported by the …

Volvo Cars announced last week that it is using Oracle’s blockchain platform to trace cobalt, one of the main components in electric car batteries. Following the unveiling of the company’s first fully electric car, the XC40 Recharge, Volvo has come up with a new business strategy that includes introducing an electric vehicle every year through 2025. “Cobalt is at the heart of electric vehicle batteries, yet supplies are limited. Companies like Volvo are ramping up their production significantly, as half of Volvo cars will be electric by 2025. Each car requires 10-20 kilograms of cobalt in their batteries,” Mark Rakhmilevich, …