Utilising blockchain technology for managing natural resources: A case study of Reko Diq copper-gold project, Pakistan

Abstract

The mining industry is a key driver of the global economy, with many other industries relying on the mining sector for their growth. Despite its importance, the mining industry is mired with challenges of supply chain traceability, transparency, corruption, inefficiencies, data loss, etc., all of which create the need for innovative solutions involving emerging technologies that can streamline these processes and enhance their reliability. Blockchain is an emerging technology that has the potential to address most of these challenges in an effective manner. This study looks at the feasibility of utilising Blockchain technology for the management of Reko Diq copper-gold project in Pakistan, which faces similar issues, including lack of trust between stakeholders, corruption, sustainability problems, environmental degradation, and a legal battle. This qualitative study used six semi-structured interviews of stakeholders in Pakistan who had knowledge of the potential of Blockchain technology for the management of the Reko Diq project. The key themes that were identified in the study include Relations between Stakeholders, Environmental and Economic Sustainability, and Infrastructure Limitations. The Technology Acceptance Model was applied to the study, and the findings of the study support one tenet of the model - perceived usefulness; however, perceived ease of use was not supported. The Blockchain Screening Tool was also used to assess the feasibility of Blockchain implementation for the Reko Diq project. The findings indicate that the Reko Diq project is an ideal candidate for Blockchain implementation to enhance trust, transparency and credibility of the project.