Soon, Volkswagen will use IBM Blockchain to track its mineral supply chains. this info officially comes from the announcement made by the renowned German automaker. It aims towards empowering the company to record mineral tracing in real-time. The MNC in its blog said that this move will help fulfill the sourcing standards set by the OECD (Organization for Economic Cooperation and Development). Volkswagen has a great know how of out sourcing its mineral deposition in the global scale. Also, it boasts a great production facilities and supplier chain. Now, integrating Blockchain with its technologies will definitely prove beneficial for mining business in the future.

As Volkswagen will use IBM blockchain to trace and record its mineral, the relying on third party audit makers will be lessened. Usually, including a third party increases the manual processing of record. Also, its quite laborious to work and comply with industry set standards. The automotive also clarifies that the whole network from mining till end-user comprises of other members. This includes popular names such as the Ford Motor Company, Huayou Cobalt, IBM and LG Chem.

Volkswagen also aims to spread its reach into other domains such as the aerospace and consumer electronics. Of course, we hope that it will incorporate blockchain technologies to process its business in these areas.