Rwanda Deploys Blockchain To Reduce Conflicts In Mining Sector
The deployment of blockchain is geared toward reducing conflicts in the mining sector.
Circular To Help Rwanda Trace Mineral Supply Through Blockchain
A number of countries are turning to blockchain to solve perennial logistical challenges. Rwanda is the latest country to join the blockchain sector. The East African nation is now using blockchain to track the distribution of tantalum. Tantalum is a rare-earth metal that is used in electronics. The country turned to blockchain as a way of minimizing conflicts in the mining sector.
The development was confirmed by Rwanda’s minister in charge of Mining and Petroleum Francis Gatare. He made the revelations during a meeting of the Rwanda mining Asociation on Tuesday. According to Gatare, the technology can help track the movement of the mineral.
In the current market, Rwanda has emerged to be a leading producer of the rare-earth mineral. By 2014, Rwanda was producing about 50% of the entire tantalum needed globally. However, the metal market has been tainted due to conflicts. The conflicts emerged following an international treaty that was meant to curb the illicit trade of minerals.
To fully integrate blockchain into tracking the mineral, authorities in Rwanda have contracted Circular from London to set up the structures. The firm provides tracking solutions backed by Hyperledger Fabric. The end goal is to have ethics in the entire mineral process. After the tantalum is mined in Rwanda, its supply chain will be tracked fully.
Already, a pilot project has been conducted with a number of firms taking part. PRG Resources participated in the flagship project. The firm supplies tech giant Apple with tantalum.
How Circular Will Conduct The Tracking of Tantalum
In a press release, Douglas Johnson from Circular said that his firm will help miners adhere to mining policies spelled out by global bodies. He said that the firm plays a key role in fighting conflicts related to the industry.
The firm will use a smart contract in the tracking process. In the mining sector, trace provenance is gaining a measure of popularity. Early this year, De Beers conducted a trial on blockchain in the mining of diamonds.
Two months ago, ZhongAn Technology from China, unveiled a blockchain backed system meant to track gems. The main goal was to attain the highest level of traceability in the sector.