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Tesla to develop Blockchain Platform To Track Cobalt usage

Electric vehicle manufacturer Tesla has released its 2020 Impact Report where they have talked about incorporating blockchain technology.

In fact, they are looking at two blockchain solutions that can trace raw materials used in EV batteries. The solution also keeps in mind the sustainability factor regarding sourcing the ore. Re|Source is the name of one blockchain solution that traces cobalt in the Republic of Congo. On the other hand, the another one traces nickel sourced from BHP in Australia.

Three DRC cobalt producers, Glencore, China Molybdenum Co (CMOC), and Eurasian Resources Group (ERG) along with Kryha have founded Re|Source. The team started working on the project in 2019. As of now, Europe’s DRC and EV battery manufacturers did a pilot of the project. Moreover, there are plans for expansions to the U.S and Asian countries later this year. The expected launch is in 2022.

On a side note, Tesla will start its final pilot in the fourth quarter of this year regarding blockchain technology. Its report stated:

“Tesla selected to collaborate with Re|Source because it is industry-led, is designed to be readily accessible and inclusive to all parties across the supply chain and is scalable, which means it can include other critical battery materials in the future.”

Tesla has also partnered up with BHP for nickel supplies and battery supply chain sustainability. They’ve done a three-month pilot between BHP’s operations in Western Australia and the Gigafactory in Shanghai. As a matter of fact, Volvo and Mercedes are some of the earlier adopters with tech provider Circulor. Norilsk Nickel and Johnson Matthey, advisers to Re|Source, are also working together to tokenize the supply chain.

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