By Staff Reporter
Diginex, a blockchain solutions company, and the Mekong Club, an anti-slavery NGO, have joined forces to create a blockchain project aimed at curbing exploitation of migrant workers in Thailand and help corporations comply with the increasingly stringent global anti-slavery regulations.
The project, which is partly funded by the British Embassy in Bangkok, will create a blockchain-based app with the help of data analytics platform Verifik8, according to a statement.
The app, eMin, enhances trust, transparency and security in the worker recruitment process by storing an immutable copy of employment contracts and employment terms on the Ethereum blockchain.
Over the past few years, regulators in the UK, France, Australia and the US have passed legislation requiring businesses to eradicate slavery and human trafficking in their supply chains.
Failure to comply has resulted in large fines, containment of products at port and significant losses due to reputational damage.
Mr. Mark Blick, head of government solutions at Diginex, said that the new app “not only protects workers from exploitation but also gives large retailers and manufacturers the peace of mind that they are complying with the many global regulations that aim to tackle this issue by creating a single source of truth regarding worker contracts.”
Verifik8, which provides data intelligence and analytics for agribusiness suppliers, has already facilitated a number of pilots on behalf of Southeast Asian and international companies including Thai Union, Pepsico and Nestlé.
The Mekong Club’s chif executive, Mr. Matt Friedman, added: “This pilot is the runway to mass adoption of technology that could protect the rights of millions of people who are ensnared by forced labor situations every year.”
Currently, there are 40 million people trapped in modern slavery and only 0.2% of these are helped every year, Friedman said.