A recent filing submitted by Apple to the U.S Securities and Exchange Commission (SEC) appears to show that the tech giant is thinking about embracing blockchain technology.
The document reveals details about the company’s interest to leverage the power of blockchain to improve its mineral supply chain operations.
Blockchain guidelines for mineral supply chain
The SEC filing Titled “Summary of Apple’s Commitment to Responsible Sourcing”, focuses primarily on the company’s efforts to ethically source its products. However, the document briefly notes that Apple has been working with Responsible Business Alliance (RBA) and was involved in creating “blockchain guidelines” for RBA’s Responsible Minerals Initiative.
RBA is a consortium of leading companies dedicated to improving the security and human rights conditions in their mineral supply chains. The Alliance explained in a press release that the guidelines seek to provide principles, definitions, and fundamentals that should be included in the development blockchain applications for mineral supply chain. The goal is to enable collaboration within the mineral supply chain by using blockchain to provide accounting transparency.
Could Apple be working on its own blockchain solution?
The filing provides very little information regarding how Apple plans to use distributed ledger to improve its supply chain, but the tech giant has in the past expressed strong desire to increase transparency and uphold human rights in its supply chain. This involvement with RBA’s blockchain initiative could be a sign that the company is exploring blockchain solutions focused on the supply chain.
It is important to note, however, that despite chairing the board of RBA last year and also participating in the consortium’s blockchain team, the SEC filing clearly indicates that as far as blockchain is concerned, Apple will not offer any solution based on the technology any time soon.
Leading companies adopting blockchain technology
As the world continue to warm up to the blockchain technology, leading tech companies and financial institutions are eager to integrate some form of this technology into their business operations. This can be seen in the massive influx of blockchain related patents already filed as well as blockchain solutions for enterprises. Some of the top companies already exploring and deploying blockchain applications include IBM, Microsoft, Softbank, Google, Accenture, and Bank of America among others.
Bank of America, for instance, currently has 43 blockchain patents filed, including one that aims to streamline cash handling operations.
Additionally, IBM and shipping giant, Maersk, have developed a blockchain solution for the shipping industry.