Circulor: Building Ethical and Sustainable Supply Chains
London based startup Circulor is working with the automobile manufacturer BMW to solve one of the most pressing issues in global supply chains, ie, ethical and sustainable sourcing. The company is using Blockchain and AI to identify provenance and enhance efficiency in complex supply chains. The company is helping BMW to source Cobalt ethically and efficiently from countries like Congo, which has where unregulated mines deploying child labor is quite common.
Circulor has also announced a partnership with American Manganese Inc. to improve sustainability & transparency for the electric vehicle battery supply chain.
Circulor is among a handful of blockchain startups such as Eximchain and Omnichain that are developing distributed ledger solutions to transform entire supply chains of large companies. Companies like Walmart and Nestle are using blockchain to trace the origin of food products to ensure food safety.
Global supply chains is a vast and complex area and blockchain can bring real-time transparency, trust, and efficiency from the source of raw material to the final selling point of a product.
It will be interesting to follow the progress of the pilot project of Circulor with BMW as success in this project may make the company preferred platform for manufacturers sourcing different kinds of minerals that are prone to unethical practices.