To Trace Cobalt In Its Batteries, Volvo Invests In A Blockchain Startup

Volvo’s venture arm puts resources into blockchain startup Circulor to follow the roots of raw materials.

On July 8, Volvo Cars Tech Fund reported their interest in blockchain traceability startup, Circulor.

Volvo recently utilized Circulor’s discernibility answer for track cobalt in its batteries. A lot of cobalt mining occurs in Africa under difficult conditions and includes child labor. In the time where more purchasers are getting worried about how the items they purchase are created, the capacity to confirm the whole supply chain may give an upper hand or even become a need.

Volvo may likewise be intending to utilize Circulor’s answer for follow carbon discharges. As indicated by the main acquirement official at Volvo, Martina Buchhauser, the organization will add to more greater supportability:

“We are committed to an ethical supply chain for our raw materials and our partnership with Circulor has been instrumental in that regard. By supporting Circulor’s ongoing development we can expand the use of blockchain technology in our operations and contribute to a more sustainable business.”

Volvo was joined by three different financial specialists in this round: SYSTEMIQ, Total Carbon Neutrality Ventures and Plug and Play.

--

--

--

https://timebit.sg/ is a Blockchain-based financial ecosystem including a cryptocurrency exchange platform, Cloud Services, PAMM Model Trading, Payment Gateway.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

ReBaked Synthesizing Approaches to Scaling the Global Commons

At Long Last: Holding My Published Book for the First Time!

What is the Hyperledger project?

Four tips for a great 2022 in crypto

RISE Newsletter — 2018 Highlights

EYWA Tokenomics.

Lightning Network x IoT(LoT); Potential, challenges and solutions

Incentivai — what is it really all about?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
TimeBit

TimeBit

https://timebit.sg/ is a Blockchain-based financial ecosystem including a cryptocurrency exchange platform, Cloud Services, PAMM Model Trading, Payment Gateway.

More from Medium

Ethereum: Stronger than ever?

5 MythBusters you should know about crypto

MANA — Decentraland

Bitcoin Doesn’t Fix Payments, Blockchain Doesn’t Fix Everything