The application does not only aim at instituting transparency but also to ensure that local communities where the resources are extracted duly benefit from the exploitation of the minerals.
T he smuggling of huge quantities of mineral resources especially in conflict areas and high risk zones into the international market has continued to cost government treasuries colossal sums as tax revenue. The local communities where these mineral resources (raw materials) are extracted from are most often left to wallow in abject poverty. It is against this backdrop that a digital application known as IotaOrigin was developed by Julian Wikalinski and a Cedric Koudja. Though a German company based in Cologne, the Cameroonian co-founder, Cedric Koudja told Cameroon Business Today while in the country recently that the enterprises has already been set up in Cameroon, Democratic Republic of Congo and other parts of Africa. “IotaOrigin is a platform for the international trade of raw materials and resources that are non-conflicting. Additionally, IotaOrigin enables traceability of non-conflicting and critical raw materials through an application using Distributed Ledger Technology. This enables all actors in the supply chain to comply with the “OECD (Due Diligence Guidelines for Promoting Responsible Supply Chains) of Minerals from Conflict-Affected and High-Risk Areas” while preserving the confidentiality of commercial agreements between these actors in the supply chain,” the co-founder said.
The enterprise, IotaOrigin UG co-founder states the application seeks to enforce the UN Sustainable Development Goals and formalize artisanal small scale mining for a sustainable and responsible supply of mineral resources. It allows each stakeholder in the chain to accompany the transfer of physical minerals with a digital equivalent, by associating all the necessary legal ...
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