The German automaker BMW reportedly entered into a second partnership with a Blockchain start-up, this time for the ethical cobalt source for its Reuters reports the March 5, citing the CEO of the start-up.
Just a week after the auto giant unveiled an agreement with the Chinese supply company Blockchain VEChain, Douglas Johnson-Poensgen Circulor, told Reuters that they collaborate with BMW to track the so-called "clean" cobalt supplies to ensure their ethical provenance.
Cobalt comes largely from the war-torn Democratic Republic of Congo. According to the Reuters report, Blockchain tech, the CEO of Circulor, is the ticket of the auto giant to secure a
"We think it makes sense on the plane to start with sources that do not pose a problem ", Johnson-Poensgen told Reuters:
" Once the system is proven and works on a large scale, one can to tackle the most difficult cases like artisanal mines. "
Almost no additional information was unveiled on Circulor. recognized by BMW. In addition, Circulor does not appear to have an official website, with their registration in London and their incorporation as a limited liability company in November 2017, their only publicly available information.
The latest move continues the trend in the automotive industry, specifically in Germany, focusing on the use of Blockchain to foster innovation and reduce costs.
On March 5, Cointelegraph reported that Daimler, owner of Mercedes Benz had launched a new cryptocurrency. Known as MobiCoin, the motto is designed to reward motorists for safe and environmentally friendly driving and is currently in a three-month test phase with 500 car owners
At the end of February, Cointelegraph reported that Porsche successfully implemented and tested Blockchain technology in cooperation with Berlin-based company XAIN.