Oracle Magazine, May/June 2019
ORACLE MAGAZINE MAY JUNE 2019 37 work includes blockchain application development With a blockchain you introduce that trust because every transaction every document is on a shared ledger that is visible to everybody and is endorsed by the appropriate parties Nainani says London based Circulor is at the center of such activity Using Oracle Blockchain Platform its helping companies ensure that the raw materials in their products are sourced ethically and in compliance with regulations by tracing materials through the entire supply chain from their origin to the finished product Circulor started by focusing on a particularly challenging problem tracking valuable conflict minerals minerals extracted in a conflict zone and sold to perpetuate the fighting such as gold tantalum and cobalt from the mine to their eventual use in manufactured products such as smartphones and electric cars Regulations require manufacturers to ensure that those minerals are legally extracted and arent sourced in countries that use child or slave labor Manufacturers are also keen to demonstrate to consumers that their products are ethically and sustainably sourced The supply chains for conflict minerals involve multiple parties in various countries worldwide notes Doug Johnson Poensgen Circulors CEO and cofounder Take cobalt which is in high demand for lithium ion batteries used in electric cars The ore may be mined and smelted in Africa transported to a refinery in China incorporated into cathodes in Vietnam sent to a battery manufacturer in South Korea and finally built into vehicles by a carmaker in the US or Europe No central authority governs the entire supply chain so its not possible to require that all parties use a single tracking and compliance database Johnson Poensgen says So Circulor uses blockchain to store an immutable record of the materials path through the supply chain together with smart contracts that apply consistent rules that each party must follow before it can pass the material to the next company in the chain he says Our target customers are big enterprises and we have built an enterprise class solution that is delivered as software as a service to those customers Johnson Poensgen says We need to be able to demonstrate security
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