Inmotion, a venture Capital company and a wholly owned subsidiary of the automaker Jaguar Land Rover, invested in the London Blockchain specialists Circulor. This investment should enable Jaguar Land Rover to make the origin of valuable materials and the supply chains built up in the future even more transparent, so the car manufacturer in a current message.
As a responsible company, the British automakers are constantly working to reduce its CO2 footprint and the ethical consequences of its products over the entire lifecycle. The technology used by Circulor, which also use other automakers such as BMW, Daimler and Volvo, could track the path of valuable raw materials along the entire global supply chain. Today, the start-up blockchain founded in 2017, for example, to track the origin and promotion methods of required minerals such as cobalt for batteries in electric vehicles.
The technology used by Circulor – a combination of GPS, biometric data and QR codes – open the digital check of raw materials in each phase of the process. The consequence: Transparency in the supply chain significantly increases, as information about the origin of the material can not be changed unnoticed. In addition to the fact that all compliance rules are met, the digital process Jaguar Land Rover helps to capture the CO2 footprint of its supplier network and reduce in the next step.
Since it is impossible to modify or manipulate blockchain technology, customers can be sure that their supply chains are authentic and all materials have been sustainably selected and promoted, so Jaguar Land Rover.
“This investment is another document for the goal of Jaguar Land Rover, to improve the sustainability of our supply chains around the globe. It will help to track the path of raw materials from the source over the supplier to use in the car authentically track. The implementation of the blockchain technology offers a great opportunity for systemic change in supply chains compliance. Not only in the automotive world, but also in other industries “. – Sebastian Peck, Managing Director Inmotion Ventures
“Our blockchain technology has already proven itself in the tracking of materials,” says Douglas Johnson-Poensgen, CEO and founder of Circulor. He pleased, now “together with Jaguar Land Rover with a view to global supply chains, continue to promote innovation”. Johnson-Poensgen believes “that the keys in digitization of supply chains is the key to ensure traceability between the numerous intermediate retailers who process and forward the materials along the supply chain”.
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1 thought on “Jaguar Land Rover relies on blockchain for a sustainable supply chain”
The blockchain is only as good as the entered data! When cobalt is washed in China, the whole thing is an illusion