How do IBM and Glencore work together to boost the metals industry?

US-based IBM has developed a cobalt tracking blockchain solution specifically for the British-Swiss company Glencore. By the way, Glencore specializes in commodity trading and mining.

On December 12 of this year, Glencore held a press release. A company published information that they had joined the network of responsible delivery blockchains (RSBN). In its turn, it is the brainchild of the global audit and advisory agency RCS Global Group), a joint partnership between various large corporations using technology to improve supply chain transparency.

Nico Paraskevas, director of marketing for copper and cobalt Glencore, at a press release, said that RSBN plays a rather essential and irreplaceable role in promoting a sustainable partnership between manufacturers of goods. Such market policies will increase the chances of a transition to a low-carbon economy, and by major consumers around the world.

Also, it is worth noting the fact that Glencore has previously shown interest in the blockchain. For example, in October, the company was one of the seven metallurgical giants that formed the Mining and Metals Blockchain Initiative. More specifically, this project was aimed at further developing proven concepts.

It can be argued without any doubt that today the metallurgical industry seeks to promote the technologies used by the blockchain to increase the efficiency of the existing supply chain. An interesting fact is that in March, the London Metal Exchange (LME) supported a similar international technology-focused initiative.

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