Ford has a Mission

GM,GM! 🤙

Welcome back to the Web3 Use Case newsletter, where we dive into the latest innovations shaping the digital landscape. Today, we're exploring a remarkable development in the battery industry that holds immense promise for sustainability and circular economy practices.

😰 The Challenge

Batteries are the unsung heroes of our modern world, powering everything from our smartphones to electric vehicles (EVs). However, their environmental impact has been a growing concern. The challenge is clear: we need to make battery supply chains more circular to ensure the recycling of the metals and minerals they use.

The battery revolution offers a compelling opportunity – it could create 10 million jobs, contribute $150 billion to the global economy, and provide electricity to 600 million people who currently lack access. Moreover, with an estimated 18 million electric vehicles expected on the road by 2030, battery technology can play a pivotal role in reducing emissions by 30%, aligning with the 2°C target of the Paris Agreement.

💡 The Solution

Enter Everledger, a pioneering company harnessing the power of blockchain technology to transform the battery industry's sustainability landscape. Everledger has joined forces with Ford Motor Company to launch a groundbreaking digital identity pilot program for EV batteries.

This innovative project utilizes Everledger's blockchain platform to create a digital identity for each battery, effectively giving it a "battery passport." This passport stores crucial information about the battery's location, condition, and health score throughout its lifecycle. The primary objective is to extend the useful life of batteries, minimize waste, and prevent environmental leakage.

But that's not all. On the other side of the globe, Everledger is collaborating with the Battery Industry Group (B.I.G) in New Zealand. Together, they're developing an EV battery circular product stewardship scheme. This scheme aims to repurpose batteries when they reach the end of their useful life in a vehicle, typically after about 10 years, potentially extending their lifespan by another 10-15 years for energy storage.

Everledger's intelligent labeling solutions have revolutionized how battery data is captured, logged, and secured. By storing battery characteristics and history on the blockchain, they've created a more secure, immutable, and privacy-centric system. This facilitates the exchange of critical life cycle data, leading to greater efficiency in circular practices.

Manufacturers now have strong incentives to share critical data with value chain stakeholders, improving safety and reducing the costs associated with extending battery life and recycling.

The battery value chain, with its rapid technological advancements and falling costs, exemplifies the transformative potential of blockchain and the Internet of Things (IoT) in promoting sustainability and waste reduction.

👀 Takeaways for Other Industries

In the world of innovation, we often celebrate the flashy and futuristic, but sometimes the most significant transformations happen in seemingly mundane processes.

So, here's the big takeaway: Don't overlook those "boring" processes in your industry. There's often untapped potential for optimization, cost reduction, and sustainability improvements. Whether it's customs certificates, material origin declarations, or aluminum production, blockchain and IoT technologies are opening doors to more efficient and sustainable practices.

That's a wrap for today's Web3 Use Case newsletter. Stay tuned for more groundbreaking developments in the world of Web3 technology.

Have a fantastic day! ☀️

Florian