The investment will enable Jaguar Land Rover to source premium materials with greater transparency as to the provenance, welfare, and compliance of suppliers throughout its networks.
The technology can trace valuable raw materials throughout a global supply chain from origin to supplier, with Circulor already using blockchain to boost the traceability of minerals used for electric vehicle batteries.
The technology uses a combination of GPS, biometrics and QR codes to digitally verify the movement of raw materials at every step of the process. As well as tracking compliance, the digital process will enable Jaguar Land Rover to assess the carbon footprint of its supply network.
Blockchain technology is impossible to modify or tamper with, giving customers complete confidence that the supply chain is authentic, and all materials have been sustainably sourced.
“The implementation of blockchain technology provides a great opportunity to make a systemic change in supply chain compliance, not just for the automotive world but for other industries, too,” said InMotion Ventures managing director Sebastian Peck.
