Share this article
BTC
$81,709.32
+
8.93%ETH
$1,619.17
+
14.39%USDT
$0.9996
+
0.03%XRP
$1.9873
+
13.80%BNB
$574.76
+
6.06%USDC
$0.9999
-
0.01%SOL
$115.79
+
12.41%DOGE
$0.1549
+
11.89%TRX
$0.2383
+
4.96%ADA
$0.6135
+
11.59%LEO
$9.3797
+
3.29%LINK
$12.28
+
15.09%TON
$3.0362
+
3.81%AVAX
$18.00
+
12.27%XLM
$0.2350
+
9.17%SUI
$2.1591
+
14.45%HBAR
$0.1659
+
15.65%SHIB
$0.0₄1173
+
11.66%OM
$6.7710
+
8.51%BCH
$296.54
+
11.23%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Russian Metals Firm Norilsk Nickel Backs IBM’s Responsible Sourcing Blockchain Pact
The technology is aimed at tracing commodity flows in near-real time.
Norilsk Nickel, a Russia-based metals company, has announced it backs IBM’s Responsible Sourcing Blockchain Network (RSBN), which supports responsible sourcing and production in mining.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The Russian nickel and palladium mining company said it would use RSBN to share data with selected members and keep a supply chain record of mineral production.
- The agreement would include the creation of metal-backed tokens on the global Atomyze platform that represents physical assets in digital form.
- The RSBN and Atomyze platforms have been built on IBM blockchain technology and powered by the Linux Foundation's Hyperledger Fabric.
- By joining the RSBN, Nornickel has agreed to have its supply chains audited annually against key responsible-sourcing requirements by RCS Global.
- "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 as well as replacing cumbersome paperwork," said Anton Berlin, Nornickel's vice president of sales and distribution.
- In December 2019, one of the largest cobalt producers, Glencore PLC, joined the RSBN, announcing it would use RSBN’s Hyperledger Fabric platform for its cobalt production and become a full consortium member.
Read more: Meet the Russian Oligarch Launching a Metal-Backed Crypto Token
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
