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Computer and IT
Average: 3.3 (4 votes)

Minexx exists to connect miners to the world.

Whilst working for a solar company we found that one group of potential customers, the miners, were unable to access these solar solutions due to unreliable payments and contracts. The irony of this struck us: the very miners who dig up the minerals to make clean energy solutions possible are not able to access them. Ultimately the unacceptable social cost of ‘clean’ energy was clear.

Investigating the problem further we realized that this situation exists because of a lack of trustworthy data in the supply chain. There are seven stages from mine to the manufacturer and by the time this information reaches the end-consumer they don’t trust the mineral origin data. With no data, there is no accountability and no progress. From speaking to electronics manufacturers, we found that with the introduction of electric cars the electronics and car companies are facing massive legal and consumer pressure to own this problem, regulation is closing in and companies can’t stay ahead to prove the origin of their minerals and prevent brand damage. The potential for impact is huge; one-in-eight people in Sub-Saharan Africa rely on small-scale mining, second only after farming.

Minexx was started to solve this problem and connect miners to the world and ensure they get their fair share of the benefits. Minexx provides a platform to formalize and improve small-scale mining operations by ensuring miners get a fair price through digital payments & IoT, connecting miners to services such as electricity and insurance and, providing equipment by using data in platform to de-risk loans by banks. By collecting data at the mine site Minexx then use blockchain technology to tokenize & certificate production to create trust and transparency in the supply chain.

We are now building this platform and forming a team to build it with us. There comes a time to confront the unacceptable social cost of electronics, that time is now.

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