Minespider was created to address a particular challenge in the mineral supply chain. Metals purchased from conflict zones fund armed groups, often employing human rights abuses such as slavery and child labour. Performing due diligence on the mineral supply chain is exceptionally difficult and expensive because conflict metals are not uniquely identifiable and can be mixed with material from other sources.
Our aim is to transform supply chain due diligence from a service that is performed into a commodity that is purchased.
To do this we work with an alliance of partner companies, NGOs, and government institutions, collecting data from responsible mineral areas and tokenizing this data:
- Offset tokens are created based on participation in data gathering and governance programs, and can be purchased directly to fund these programss in at-risk areas, offsetting the impact of minerals you or your company has already purchased.
- Certification tokens are created based on a mass of material produced from responsible sources, and are passed up the supply chain along with an equivalent mass of material sold. These tokens can verify that money paid for this volume of material is traceable to a responsible source.
Minespider is a founding member of the BetterChain Alliance and our system is implemented based on information related to their frameworks.
Minespider is a proud sponsor of the Analysis in Chains blockchain podcast.