Nickel and Palladium producer Nornickel joins Responsible Sourcing Blockchain Network

Nornickel, the world's largest producer of high-grade nickel and palladium, has now announced that it is joining the Responsible Sourcing Blockchain Network (RSBN).

RSBN is an industry strategic partnership among the members across the logistics and supply chain. The RSBN collaboration leverages Blockchain to support responsible sourcing and production practices from the mine to the market.

Anton Berlin, Nornickel’s Vice President, Sales, and Distribution said, "As one of the largest industry groups globally and the producer of the minerals essential for the transition to a carbon-free world, Nornickel is well aware of its responsibility to make the metals supply chains sustainable and highly transparent. 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."

RCS Global CEO, Dr. Nicholas Garrett, said, "The RSBN has proven that responsible sourcing can be traced and documented using blockchain technology. Assuring Nornickel’s supply chains is another milestone engagement for RCS Global and Nornickel’s commitment to the RSBN and demonstrates momentum for blockchain backed responsible sourcing platform in the metals sector."

The new strategic initiative comes after Nornickel revealed to use sophisticated latest digital technologies to create a customer-centric supply chain. Nornnickel's metal backed tokens on the global Atomyze platform. Both the RSBN and Atomyze platform were built by using the hyper ledger technology with collaboration from IBM.

Now, Nornickel 'supply chains will be audited every year against the key responsible sourcing requirements by RCS Global. 

The audits help to cover each and every stage of the company's vertically integrated operations from Russian mines to refineries in Finland and Russia.

RSBN is developed and built on the IBM Blockchain technology and also it is supported by the Linux Foundation Hyperledger Fabric. The RSBN platform improves transparency in the mineral supply chain by offering an immutable, safe, and secure record. These records can then be shared with the specified members of the network, notes the announcement.