<span style="font-weight: 400">Blockchain firm, HashCash Consultants has announced its <a href="https://www.cryptoknowmics.com/crypto/binance-chain-to-deliver-institutional-grade-amls-controls-with-ciphertrace/">partnership</a> with a group of international mining, car and battery manufacturers; to develop a supply chain network for tracking minerals mining through the blockchain. The partners will build a blockchain based supply chain system;  to trace ethical sourcing of minerals mainly used in the manufacture of battery production and auto-motives. Such minerals include tungsten, lithium and cobalt. Once successfully achieved, the partners believe they can address; the problem of child labour in mining operations in such countries as Congo. </span>

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<h2><b>Addressing child labor in minerals mining </b></h2>
<span style="font-weight: 400">The network will bring more transparency to the entire supply chain of minerals and the manufacturing industry.  The country on radar will mostly be the Democratic Republic of Congo (DRC). According to statistics shared by the United Nations in 2017, a whopping 168 million children were in exploitative working conditions globally, with upto 40,000 children working in cobalt mines in the DRC. </span>

<span style="font-weight: 400">Meanwhile, establishing the blockchain-based supply chain network; HashCash and its partnering companies plan to track authentication of the provenance and ethical sourcing of minerals; and ensuring that each participant from - the mine to the manufacturer- performs in compliance with corresponding regulations. </span>

<span style="font-weight: 400">Earlier on, Auto-manufacturing company Volvo joined cobalt mining and monitoring project in the DRC; which was overseen by responsible sourcing group (RCS Group) and had the intention to the prove that their electric vehicles did not rely on conflict mineral or child labor. Other major firms that participated in the mineral mining and monitoring initiative included Ford, IBM, South Korean Cathode Maker LG Chem and Huayou Cobalt, a chinese Cobalt Supplier. </span>

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<h2>Bottom Line</h2>
<span style="font-weight: 400">On the other hand, Tradewind Markets launched a system on its platform for tracing provenance of physical gold as well as other precious metals. The product allowed customers to trade precious metals such as physical gold and diamond based on </span><a href="https://www.sciencedirect.com/science/article/pii/0019850194900191/pdf?md5=7fe6e0e29ec3cddff403c8ad13936ae9&amp;pid=1-s2.0-0019850194900191-main.pdf"><span style="font-weight: 400">individual sourcing preferences. </span></a><span style="font-weight: 400">Such preferences included mine, recycled sources, artisanal, name and geography of mine where the metal was sourced. </span>

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HashCash Consultants Implementing Blockchain to Trace Mineral Supply Chain

Blockchain firm, HashCash announced its partnership with a group of international manufacturers to develop a supply chain network for minerals mining

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

HashCash Consultants Implementing Blockchain to Trace Mineral Supply Chain

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