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IBM, Ford, LG Chem Launch Blockchain Pilot To Trace Ethically Sourced Minerals

IBM (IBM) announced Wednesday that it has joined with Ford Motor Co. (F), Huayou Cobalt, LG Chem and RCS Global to launch a blockchain pilot program to trace and validate ethically sourced minerals.

The companies expect to create an open, industrywide blockchain platform to trace minerals and other materials for the automotive and consumer electronics industry.

The initial work would focus on responsible sourcing of industrially-mined cobalt, which is in high demand for its use in lithium-ion batteries, which power a wide range of products such as laptops, mobile devices and electric vehicles.

The pilot is expected to be completed mid-year 2019.

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