Start-Up from Berlin uses blockchain to locate minerals

When talking about the blockchain, it is mostly only about crypto currencies. But the technology can also be used for other purposes. The company MineSpider from Berlin uses technology to locate raw materials and minerals that are economically critical.

Blockchain as a chance to detect raw material origins

Supply chains are sometimes a difficult topic. Especially when it comes to ecological fairness, not everything is for the best. MineSpider has the blockchain and a tidal power plant off the coast of Scotland to locate fairly mined assets such as raw materials and minerals within a test operation. According to current reports, the Berlin-based company has used decentralized database systems to trace the origin of minerals and other raw materials used in many end devices.

Can moral issues finally be fixed?

Corruption and a lack of ethics are always important issues for crypto currencies such as the Bitcoin or Ethereum. The fact that blockchain technology can be used precisely to detect these problems is a novelty. The hitherto relatively unknown platform MineSpider has dealt exactly with this issue. The main keyword here was the concept of “conflict minerals”. Many important commodities such as gold and silver, which are often used in connection with human rights abuses, pose a problem when it comes to aspects such as child labour or slavery. One of the aims of the action was to ensure that existing EU law had been violated for years. The MineSpider system now ensures that the origin of the products can be better traced.

MineSpider wants to uncover ethical problems in funding

For companies that rely on the blockchain or currencies such as Ethereum and Dash, but also other companies, the model now ensures that the typical ethical problems can be identified and thus avoided if interested. This also refers to an ecological dilemma. The service provider MineSpider enables companies to trace things such as the promotion or processing through the blockchain protocol through newly developed blockchain certificates. The process is indeed complex, but it is an innovative approach to use the blockchain far away from investments in the wallet while complying with modern eco-standards. Companies could finally recognize the blockchain as an investigative instrument.