Abhinav Sengupta, a MBA in Energy & Infrastructure with B.Tech in Mining has a decade of work experience in Mining, Energy & Infrastructure Sector and has acquired strong industry exposure in areas of Transaction Advisory (Strategic/Risk/PPP), Business Valuation, Digitization / IT Integration, Techno-Economic Studies, and Strategic procurement. He is currently working with one of the Big 4 consulting firms.
The Mining Industry locates minerals and removes them in the most economical and efficient way possible for use by various industries, such as energy production and construction. The path of several minerals across the supply chain is complex and inefficient, especially in the mining and metals industry, where many operational and commercial practices remain costly and antiquated. Outdated, paper-based processes cost the industry millions of dollars each year, while a lack of data transparency can invite fraud, unsafe working conditions and confounds regulation efforts.
Blockchain has been digitally transforming various enterprises in most industries. Its encryption technology and digital ledger allows secure storing and sharing of cryptocurrency. Blockchain provides security and transparency in business transactions, changes made to designs, documents and other business agreements. These aspects of Blockchain make it useful and relevant to the mining industry.
Blockchain Technology is one type of distributed ledger technology; it is a time-stamped series of immutable record of data, managed by a cluster of computers not owned by a single entity.” Blockchain digitally sends information from a starting point to an end point in an automated, safe manner with negligible transaction costs.
Supply chain traceability of minerals
Sustainability in mining operation