Major technology company IBM has partnered with MineHub Technologies to provide a blockchain solution that improves supply chain management in the mining and metals industries. IBM announced the initiative in a press release released on January 16.
MineHub is a company that uses technologies such as Blockchain to develop cost-effective applications for the metals and mining industry. The recently announced mining supply chain platform will build on the cloud-based IBM Blockchain platform, which is based on the Linux Foundation’s Hyperledger fabric.
The solution targets the inefficiencies of the global mining and metals market, which is estimated at $ 1.8 trillion. These include excessive paperwork, manual data processing and lack of transparency between supply chain parties. It is also reported that logistics and financing will be improved and costs reduced.