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VW plans supply chain project using blockchain technology

Volkswagen plans a pilot project that will use blockchain technology to gain greater transparency in its global supply chain.

The German automotive group said it is working with blockchain specialist Minespider to start the project, which will allow it to trace raw materials back to their points of origin with the help of digital certificates.

The use of the blockchain distributed-ledger technology will help VW deal with a common industry problem: ensuring more transparency and security in the supply chain. The proprietary protocol developed by Minespider is based on a public blockchain.