Peralta on transforming the global cobalt supply chain using blockchain
June 1, 2018 – “The idea behind Cobalt Blockchain is pretty simple. We target high-scale cobalt exploration in the Democratic Republic of the Congo. We will do metals trading to generate early cash flow empowering local communities and supporting ethical sourcing. We will use blockchain technology to transform the mineral supply chain.” states Samuel Peralta, Special Advisor for Technology and Blockchain and a Director of Cobalt Blockchain Inc. (TSXV: COBC), in a recent presentation at the 7th Annual InvestorIntel Summit – Buds, Batteries & Blockchain 2018.
Samuel Peralta: We are Cobalt Blockchain. We basically straddle 2 of the 3 subject matters of this summit. I was just wondering how we could sneak cannabis in to make it 3, but we are going to keep it this way. Lance Hooper is our President and CEO and I am on the board of directors. We are COBC on the Venture Exchange. The idea behind Cobalt Blockchain is pretty simple. We target high-scale cobalt exploration in the Democratic Republic of the Congo. We will do metals trading to generate early cash flow empowering local communities and supporting ethical sourcing. We will use blockchain technology to transform the mineral supply chain. There were many questions this morning in the blockchain panel as to what the next level of blockchain will be. We all know about the cryptocurrency applications and about the Fintech applications. My best bet is that the next area of “disruption” for blockchain is going to be in the supply chain. The company is founded on a couple of principles. This is the management team. We have got folks who have got backgrounds in the cobalt business and the mining business. Most of these folks have been in the DRC for 12 years with active trading for the last 4 years. They do have actual on-the-ground experience in the DRC, which is rare. Lance Hooper, our President who you saw in the panel this morning, in addition to being one of those lead of Belaire Mining, the trading company in the DRC, also was a founder and a CEO of CertaPay, which was the first email direct bank to bank money transfer as well as other technologies. I am down there. I am the Special Advisor for Technology and Blockchain. My background was in physics and the application of high technology to resource firms so working with Nobel Mineral right now using AI applications, a graphene technology company mining graphite using the blockchain as well. It turns out that supply chain is a very interesting application. There are two parts to our premise, the cobalt part and the blockchain part. I was not sure if this was the right name. We had a big debate about whether we were going to do something different. Cobalt Blockchain pretty much captures what we stand for. Cobalt, as you have heard from many people at this conference, is one of the keys to our battery-based future. Cobalt demand is rising due to EV batteries. No matter what Elon Musk is saying this morning he still has to use about 4½ kilograms of cobalt in his batteries. Even if he goes forward, the Chinese and others are pretty far behind and will be seeing cobalt usage for a long time from now. It forms efficient electrode materials and helps stored power last longer that is the reason for the use of cobalt. Cobalt is being used in a number of applications including catalysts, hard metals, magnets, but if you notice usage in batteries is about 50%. That is quite a large share. There is a looming cobalt supply deficit…to access the complete presentation, click here
Disclaimer: Cobalt Blockchain Inc. is an advertorial member of InvestorIntel Corp.