Blockchain Boosts Australia’s Battery Credentials

New tracking system aims to ensure ethical mineral sourcing and global competitiveness 

28 Dec 2024

“Over 70% of global battery buyers now demand proof of ethical sourcing.” That’s the wake-up call Dr. Prok Vasilyev of Curtin University sounds as Australia pushes to the forefront of a cleaner battery future. The nation's answer? Blockchain.

In a world-first move, the Future Battery Industries Cooperative Research Centre (FBICRC), alongside Curtin and Murdoch Universities and tech firm Everledger, has unveiled a blockchain system to trace the origins of battery minerals. Think lithium, nickel, cobalt, and graphite are tracked every step of the way, from mine to market.

Blockchain’s power lies in its unchangeable, decentralised ledger. For batteries, it means any player in the supply chain can verify where materials come from and how they were processed. That gives regulators and buyers confidence that environmental and labour standards were upheld.

Dr. Vasilyev sees this as more than a tech upgrade. With Europe and North America tightening rules on supply chain transparency, Australian producers face a stark choice: adopt or fall behind. “Transparent supply chains are no longer optional,” he warns.

Pilot programs are already sparking interest. One lithium supplier used blockchain to validate its practices and quickly caught the eye of major international buyers. Analysts say such early wins could cement Australia’s reputation as a trusted supplier and open up valuable new markets.

Still, the path forward isn’t without bumps. For small and mid-sized companies, the cost and complexity of blockchain integration can be daunting. There are also concerns around securing sensitive data. Experts suggest that scalable solutions and strong government support will be key.

Despite these hurdles, the mood among stakeholders is hopeful. If successful, the initiative won’t just help Australia sell more minerals. It could redefine global standards for ethical sourcing.

With blockchain lighting the way, Australia is betting that transparency isn’t just good ethics. It’s good business.