Blockchain Startup Thanks to Volvo InvestmentAnnabella Cornelly
Volvo is one of the corporations that hire the best specialists – their team consists of the greatest engineers and strongest technologists that never stop generating new ideas. Executives feel responsible for each step the company makes and, according to reports, they are always prepared to explore new opportunities. In order to keep on growing and developing, the firm finds new ways and efficient solutions that help Volvo be one of the leading manufacturers.
As recent reports announce, Volvo has decided to invest in a project known as Circulor, a startup that bases on blockchain technology. Their main mission is to utilize the most advanced features and track the roots of certain raw materials.
On Wednesday, Volvo’s fund admitted that their group invested in a traceability startup named Circulor. The company used to apply its traceability solution earlier and tracked cobalt in batteries. Statistics prove that cobalt is mainly mined in Africa and the conditions that the entire process involves are rather questionable.
Some suspect that mining involves child labor, which the company does not support and finds it illegal. Volvo pays attention to the quality of the products they use and they never ignore any details and nuances. This includes the sources they use and providers they collaborate with. Executives feel responsible for what happens before and during the manufacturing process and wish to make the supply chain transparent and completely clear.
Tracing Materials and Emissions
Taking control of each step that the entire car production involves is a very responsible mission. Thanks to the efforts made by Volvo, the industry will be able to resolve many other issues and change the things that might ruin its reputation. Child labor is an issue that the corporation cannot ignore. They also wish to trace materials and know who produces them, under what conditions and the ways the manufacturer applies to provide this or that raw material.
Moreover, Volvo is interested in the quality of the raw materials they buy from suppliers and, which is not less important, they have planned to employ Circulor to trace carbon emissions. According to specialists, this solution is a useful tool they can utilize to detect carbon emissions, analyze statistics, and if need be, make appropriate changes.
Such measures help the government keep the environment clean and this is what other manufacturers and producers should do if they feel responsible for their activities. Partnerships of this kind contribute to increased sustainability and, as we all know, this is one of the concerns of modern society.
Car producers need to feel fully committed to the ethical aspect. They do take responsibility for raw materials, too. Circulor is exactly what many industries need to employ if they are not indifferent to the situation. Such partnerships need support and further development. Businesses that are more sustainable have greater chances to survive in the future.
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