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:

Inventory management
  • Integrated with trade management enables with automated updates of inventory with stock inflows and outflows
  • Forecast inventory levels to avoid stockouts
  • Optimize working capital through minimizing excess stock levels
  • Remove spreadsheets, reconciliation communications and operational risk of manual updates

Trade Management

Buyers and sellers of commodities collaborate on all aspects of their term contracts and transaction in one place, enabling all parties involved in a transaction to always be on the same page, in real-time

Benefits

  • Real-time visibility of all shipments across oceans and land – location and ETA
  • Secure exchange of key documents
  • Keep all communications related to the transaction with the transaction data set
  • Notifications of key events
  • One version of the truth – no need to reconcile and check
Arnoud Star Busmann is one of the pioneers in the intersection of commodities, finance and blockchain technology. Prior to joining Minehub, he was the Innovation lead for Commodities at ING Bank where he led the cross-industry initiative ‘Easy Trading Connect” that spawned projects like VAKT and komgo. Arnoud is an all-round executive with tech DNA, and has over 20 years experience in strategy execution, enterprise transformation and “blue chip” startups. After obtaining a master’s degree in Computer Science from the Netherlands, he lived and worked across Europe, Asia and Oceania.