Responsible mineral supply chains via blockchain provenance
MINTRAX™ is being implemented for cobalt
in the Democratic Republic of the Congo
MINTRAX™ is the premier mining and mineral provenance platform set up specifically to procure minerals in compliance with the Organisation for Economic Co-operation and Development (OECD) due diligence framework.
MINTRAX™ enables end-to-end sharing of transactional data for all participants via a permissioned blockchain, with information available from mineral source all the way to the end-user, while preserving contractual confidentiality.
MINTRAX™ is based on distributed ledger technology, which is inherently more resistant to conventional security risks, because the distributed and interlocked nature of the blockchain database record makes it immutable.
MINTRAX JV is a joint venture of Cobalt Blockchain Inc. and DLT Labs Inc., and is based on COBC's operational experience trading certified-conflict-free metals in the Democratic Republic of the Congo, work with due diligence design firm BetterChain, and DLT's deep-bench supply chain and logistics experience with IBM's Hyperledger Fabric and the Ethereum blockchain.
Our aim is for the MINTRAX™ blockchain platform to be the benchmark in automated trust, assuring security, transparency and immutability of the certification record for ethically-sourced minerals. Our vision is to spark not just a digital transformation of the mineral supply chain - based around our concept of automated trust - but an ethical transformation as well.
The current MINTRAX™ blockchain platform is built on IBM's Hyperledger Fabric framework. The platform is designed to be transparent, immutable, and secure. A future version is envisionedto incorporate an asset-based token component, hybridized using a public chain such as Ethereum, tied to socially responsible benchmarks in the supply chain ecosystem.