Coincash Blog fejléc

Volvo sees the future in blockchain

Barbara Renata Lorincz7 November 2019

volvo_car_driving_blockchain_tracker

Volvo will be the first car manufacturer to implement global traceability of the cobalt used in its cars by using blockchain technology.

This news followed the announcement of their recently released all-electric model.

According to Volvo's statement, one of the car manufacturers' most important sustainability challenge is the traceability of raw materials used during the production of batteries, such as cobalt.

With the help of blockchain technology, a transparent and reliable data network has been created so that the origin of raw materials cannot be changed.

If all goes according to plan, they will be able to put the technology into use this year, because the largest share of work - that is, with two big battery suppliers, CATL and LG Chem - has already been agreed.

According to the source, Oracle and Circulor will oversee the operation of the CATL network, while Responsible Sourcing Blockchain Network (RSBN), RCS Global and IBM will oversee LG Chem.

We have always been committed to an ethical supply chain for our raw materials, said Martina Buchhauser, head of procurement at Volvo Cars. With blockchain technology we can take the next step towards ensuring full traceability of our supply chain and minimising any related risks, in close collaboration with our suppliers.

Click here if you would like to buy Bitcoin.

Click on the stars to rate the article! :)

Another Hungarian charity to join forces with CoinCash in order to accept donations in cryptocurrency

Another Hungarian charity to join forces with CoinCash in order to accept donations in cryptocurrency

The rise of digital payments opens a new chapter in the practice of donation: internationally, more and more charities are embracing the opportunity of modern technology and accept donations in cryptocurrency.
Secure and convenient cryptocurrency storage with CoinCash

Secure and convenient cryptocurrency storage with CoinCash

Now you have the option to store your redeemed cryptocurrency in your CoinCash account!
New CoinCash ATMs in Budapest, Győr and Veszprém

New CoinCash ATMs in Budapest, Győr and Veszprém

The new ATMs will allow our customers to conveniently and securely exchange cryptocurrency from HUF or EUR.
Bitcoin ETFs: A Breakthrough for the Crypto Industry

Bitcoin ETFs: A Breakthrough for the Crypto Industry

We asked how the latest decision by the US Securities and Exchange Commission will change the crypto market.