Blockchain Firm Assists Congo Mine to Combat Against Blood Diamonds October 2, 2019 October 2, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 2, 2019 by Kelly Cromley

Blockchain Firm Assists Congo Mine to Combat Against Blood Diamonds

RCS Global, Berlin-headquartered blockchain firm, is launching mine-to-market platform to combat conflict linked commodities from the Democratic Republic of Congo.

Government officials posted in the in the Societe Miniere de Bisunzu’s (SMB) mine have started employing blockchain technology to guarantee its customers that the minerals bought by them are not associated with blood-stained supply chain.

RCS Global employed blockchain technology system at the beginning of this year. The platform facilitates the SMB mine officials to electronically mark the output from the mine. Regarding the blockchain system RCS managing director Ferdinand Maubrey said:

“It allows purchasers of SMB material to be sure that it actually comes from that mine site and is not smuggled into the supply chain from other mines, as much as possible.”

As of now, most of the mines depend on paper-based certification system, which is susceptible to fraud. Maubrey stated that the latest RCS Global system assisted in blocking nefarious minerals from being combined with SMB’s pure and traceable commodities by establishing new fool proof systems. Maubrey said:

“To use stolen tags, for example, a smuggler would also need to steal both the scanner and the laptop linked to it – which Maubrey said would be easily detected.”

Even though, it is an initiative for a righteous cause, SMB chief executive Ben Mwangachuchu highlighted that electronic system, nevertheless, can be manipulated “if the government agents who tag bags conspire with smugglers to enter incorrect data from the outset.”

He added:

“If they collude and say we are going to feed the information we want … for our own benefit, you will never know.”

Charles Hoskinson, CEO of blockchain technology firm IOHK, stated that the US footwear brand New Balance will utilize the Cardano blockchain to permit its clients to validate the origins of a variety of goods.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.