Cobalt & Lithium Supplies to be Tracked With DLT

The platform will be created by the Everledger together with Circulor using Hyperledger Fabric
26 March 2020   931

Everledger, a British startup, has partnered with Circulor to develop a platform based on the Hyperledger Fabric blockchain to track supply chains of cobalt and lithium.

Everledger specializes in using blockchain to combat counterfeiting of precious stones, in particular diamonds. The company’s management said it intends to expand its business using blockchain to control the supply of rare minerals used in the production of batteries.

Well-known carmaker Mercedes Benz is already using Circulor technology to track its supply of cobalt and its carbon footprint. Circulor and Everledger share a similar concept - with the help of the blockchain they control the observance of social and environmental standards in mining. Therefore, startups decided to develop a joint product.

Everledger co-founder Leanne Kemp and Circulor CEO Doug Johnson-Poensgen said their solution will work on the Hyperledger Fabric blockchain. The possibility of interacting with IBM is also being discussed.

Poensgen added that the platform will be used not only to track cobalt production in the Democratic Republic of Congo, but in different regions of the world. For example, lithium mining in the Atacama desert leads to water pollution, so the solution on the blockchain is aimed at preventing environmental disasters.

CasperLabs to Conduct Tokensale

The exchange validation offer will be conducted at the BitMax with a goal to raise $3M
26 March 2020   946

Startup CasperLabs entered into a partnership with the BitMax exchange to conduct a tokensail in the format of an exchange validation offer (EVO) on March 30. In total, it is planned to attract up to $ 3 million. CoinDesk writes about this.

In 2019, CasperLabs raised $ 14.5 million from Arrington XRP Capital and other investors. Project consultants include Ethereum Foundation researcher Vlad Zamfir.

Initially, the startup was engaged in experiments with the protocol developed by Zamfir for scaling Casper, but subsequently switched to developing its own blockchain. The launch of its main network should take place before the end of the year. Arrington XRP Capital founder Michael Arrington said he was not sure whether his company would want to participate in the token sale before launching the main network. At the same time, he confirmed that, “most likely,” he would become the operator of one of the nodes.

CLX tokens purchased on BitMax will automatically be credited to the accounts for staking after the opening of the main network. To do this, BitMax will also launch its own node. Within 90 days from now, investors will be prohibited from selling tokens.

In addition, the startup is negotiating with some other trading platforms and companies offering their customers a staking service. So far, few have expressed a desire to become node operators, which could damage CasperLabs plan to provide an increased level of decentralization already at the start.

The CasperLabs team has an 8% CLX emission, which will be limited to a three-year vesting period. It is expected that the total capitalization of the project will be about $ 100 million, CoinDesk writes.