The move comes after Nornickel announced a strategy to use sophisticated digital technologies to create a customer-centric supply chain, which would include metal-backed tokens on the global Atomyze platform, a tokenization platform which represents physical assets in digital form.
The Atomyze and RSBN platforms were developed taking advantage of Hyperledger technology, with the participation of IBM.
With Nornickel joining RSBN, a series of its supply chains will be audited annually against key responsible sourcing requirements by RCS Global. The audits cover every step of the company’s vertically integrated operations, from Russian mines to refineries in Finland and Russia.
Once audited against responsible sourcing requirements, each supply chain will be transferred to RSBN and an immutable audit data trail will be captured on the platform, proving responsible nickel and cobalt production, maintenance and its ethical provenance, Nornickel said.
Based on IBM Blockchain technology and powered by the Linux Foundation’s Hyperledger Fabric, the RSBN platform helps improve transparency in the mineral supply chain by providing a secure and immutable record that can be shared with specific members of the network.
RSBN is designed for adoption across industries by Original Equipment Manufacturers (OEMs) in the automotive, electronics, aerospace and defense industries, as well as their partners in the supply chain in mining and battery manufacturing.