Supply Chain Management in Mining Industry to be improved by IBM-Backed Blockchain Platform

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.

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