There is a natural conflict of interest between the demand for transparency in supply chains, and the need for commercial privacy for the parties active in these supply chains. This paradox is increasingly urgent to resolve, with regulatory, institutional and consumer pressure for disclosure and traceability getting louder and louder. Often it is not just a matter of willingness to disclose, but also feasibility. The mine-to-market supply chain is often captured in transaction documents, which are scattered in filing cabinets and courierbags around the world. How can you prove the origin of the cooper in your EV in this setting – it will be too expensive, if possible at all, to reconstruct the provenance this way? But it does become very feasible by moving supply chains to digital blockchain platforms like Minehub, and use Zero Knowledge proof privacy technology to solve the paradox: users can ask specific questions about upstream supply chain attributes, without needing disclosure of the actual parties in the supply chain. For instance, a Minehub user will be able to verify that a copper cathode sheet complies with the LME Responsible Sourcing policy, but does not need to know which parties handled the copper and where it comes from.
This goes across attributes, and will help automate compliance with purchasing policies. Minehub is working with ING’s team to figure out deploy this technology in the Minehub platform.
See how our partners at ING are using the MineHub platform to create this transparency: https://www.youtube.com/watch?v=WfBAKud2pqI