Blockchain has now become a buzzword defining the narrative of digital modernisation.
Business leaders, major global corporations across all industries, including mining, and even governments and central banks have all embraced blockchain. Declared as the heart of Industry 4.0, this new shiny tech streamlines old business processes, turning them into saved time and money – pure profit.
Like a Swiss Army knife, blockchain promises to solve many business problems. The mining industry has experimented with blockchain in several key areas. These include real-time cargo tracking and provenance of precious commodities, increasing efficiency by digitising and automating paperwork processes, and secure quick-trade financing and settlement.