Nornickel has joined the Responsible Sourcing Blockchain Network (RSBN) after developing its own supply chain tracking system using metal-backed tokens on Atomyze, a blockchain powered marketplace.
"Nornickel is well aware of its responsibility to make the metals supply chains sustainable and highly transparent," said Anton Berlin, Nornickel's vice president, sales and distribution. "We believe that the digital technologies of RSBN and Atomyze will create the path for Nornickel and its partners to participate in a circular value chain, tracing commodity flows in near real time and replacing cumbersome paperwork."
The RSBN will now audit Nornickel supply chains, covering each stage of the company's vertically integrated operations from Russian mines to refineries in Finland and Russia, against requirements set by the OECD for independent responsible sourcing group RCS Global.
RSBN, which was founded by members including IBM, Ford Motor Company and LG Chem, uses IBM Blockchain technology and the Linux Foundation's Hyperledger Fabric to create an immutable record of metals transactions that can be shared with specified members of the network.
"Nornickel is an important addition to the Responsible Sourcing Blockchain Network and we look forward to their contributions to help advance the assurance for responsible sourcing and the group's sustainability goals," said Manish Chawla, global managing director, Chemicals, Petroleum & Industrial Products, IBM.