Blockchain is a distributed ledger technology, used to synchronize digital records across multiple locations, which relies upon cryptography rather than trusted third parties to confirm transactions. Due to its characteristics, blockchain is used as a tool to increase transparency, provide provenance data and establish end-to-end traceability in mineral supply chains.
The RMI is aware of an increasing number of blockchain projects that are under development or have started implementation in mineral supply chains. These are often applied by a relatively limited number of supply chain actors and lack a shared understanding of definitions, concepts and data attributes.
What We Do
With a goal to reduce the fragmentation of efforts, the RMI promotes:
- The common adoption of definitions and concepts in the application of blockchain-enabled solutions in mineral supply chains.
- Consensus on the fundamental data attributes and unique identification system to be included at each stage of the blockchain-enabled solution in mineral supply chains.
- Increased awareness of the applicability of blockchain technology, its limitations and its impact on supply chain actors and local communities in producing countries.
To do so, the RMI conducts the following activities:
- Development of Blockchain Guidelines: The RMI's Blockchain Guidelines apply to any mineral or metal supply chain with a goal to define the terms, concepts and fundamental data attributes required to identify supply chain actors that participate in a blockchain-based solution.
- The drafting process for the Blockchain Guidelines started in March 2018 and the RMI has received, assessed and incorporated input from numerous stakeholders on an ongoing basis.
- Stakeholders consulted include the RMI membership, industry/metal associations and blockchain developers.
- Stakeholder Engagement: The RMI invites any interested party to test the guidelines in the conceptualization, design and implementation of blockchain-based solutions in mineral supply chains. Any questions or comments on the Blockchain Guidelines can be directed to Michèle Brülhart at firstname.lastname@example.org.
- The RMI continues to engage stakeholders to promote the implementation of the Blockchain Guidelines and aims to test their applicability in different supply chains, across different minerals and geographies.
- Feedback and comments from the implementation phase will be collected, assessed and, where possible, integrated into the Blockchain Guidelines.
- Understanding Blockchain and its Impact: The RMI is developing resources to help companies understand the applications of blockchain technology in mineral supply chains as well as the potential impacts on supply chain actors and local communities. Please visit our free e-Learning Academy to listen to the “Blockchain 101 Webinar” providing an overview of the technology and use cases in other industries.
Contact Michèle Brülhart at email@example.com for more information.