Blockchain ‘key to supply transparency’ – mining giant BHP
Leading global resources company BHP says it has proved Blockchain technology can ease concerns about sustainability and human-rights transgressions in the supply chain. Australia-based mining and metals giant BHP has been piloting Blockchain as a way to maintain high ESG (Environmental, Social and Governance) standards across its supply chains. The company is one of the world’s largest producers of copper, nickel, iron and coal. Blockchain is a technology that allows the transfer of transactions and data between parties involved in any given transaction. It works by linking digital records (or ‘blocks’) using cryptography, to create a ‘ledger’ that records transactions in a verifiable and permanent way. This makes processes faster, easier and more streamlined.