Apple's latest SEC filing drafts blockchain guideline

Apple has specified in its latest filing with the Securities and Exchange Commission (SEC), that it is forming the Blockchain guidelines of Responsible Minerals Initiative (RMI). The filing titled “Summary of Apple’s Commitment to Responsible Sourcing” was published on February 15.

The document explains Apple’s business practices, and the ethics followed with its interest in the blockchain sector. In the report filed, the tech giant states that it is committed to,

“going beyond the minimum requirements in order to meet and exceed internationally accepted due diligence standards and protect people in its supply chain, with the ultimate goal of improving conditions …”

In the filing, Apple made a note of both of its internal work and also its relations with supply chain providers; with the large portion of the article talking about sourcing materials for products like the iPhone.

According to their latest filing, Apple’s involvement in the development of blockchain guidelines of RMI is drafted to determine few sets of principles, concepts and other terms for the disbursement of blockchain in the mineral supply chain due diligence.

Apple Participating in Blockchain

However, according to RBA’s press release, these “guidelines” were first published in the middle of December 2018 and “represent a first industry effort to define a common set of principles, attributes, and definitions for the application of blockchain technology to support mineral supply chain due diligence.”

The press release from RBA states no involvement of Apple, although the firm is listed as “Company Member” on the organization’s official web page.

Besides, the filing also includes the description of Apple’s contribution to Responsible Business Alliance (RBA) primarily in the building of RBA’s Responsible Mineral Initiative.

Furthermore, the RMI focuses on assisting businesses in understanding the blockchain technology, uses cases of the technology, and the impact it is said to have on supply chain actors and local communities.

RBA’s Responsible Minerals initiative was launched in 2008, as a multi-industry initiative that consists of more than 360 companies; to name a few, Apple, Acer, and electronics store Best Buy. The member companies of the initiative contribute to the development of mechanisms and resources in mineral supply chains.

The crypto space has seen major tech firms joining the revolutionary technology, with IBM last month partnering up with MineHub technologies to develop blockchain solutions in order to enhance the supply chain management in the mining and metals industry.