Blockchain-based supply chain application for mining will be trialled at Goldcorp’s Peñasquito
Vancouver-based mining technology company MineHub Technologies and IBM are partnering up to create a blockchain-based mining supply chain application.
The collaboration has the backing of Goldcorp, Wheaton Precious Metals, ING Bank, Ocean Partners USA and Kutcho Copper, the junior miner that launched Minehub in July 2018.
The application, which is built on the IBM blockchain platform and powered by the Linux Foundation's Hyperledger Fabric, will get its first test case at Goldcorp’s Peñasquito project in Mexico. MineHub’s application will track Penasquito’s concentrate as it makes its way from the mine to the market.
End users will be able to verify data from any ore mined at the site, which will be uploaded to the blockchain platform. Only parties who have been granted permission will be able to access information on the concentrate.