Coca Cola plans o use Ethereum’s blockchain more specifically the Ethereum Baseline Protocol in a new project to manage supply chains across different bottling suppliers so let’s find out more in the upcoming Ethereum news today.
According to a report from a few days ago, CONA established a new project named “Coca-Cola Bottling Harbor” which will leverage the baseline protocol and the use of this protocol will ensure that the transactions will be private and stored on the ETH blockchain. The project is an extension of the Hyerledger based platform that was used to handle inter-organizational supply chain management for bottling companies. With the new system, Coca Cola plans to leverage blockchain technology across a wider range of key market participants in the raw material supply chain.
CONA said that the main goal of this initiative is the creator of a “Coca Cola Bottling Harbor” a decentralized architecture that will lower down the entry barrier for bottling suppliers. The project forms the latest example of the blockchain’s increasing usage in the supply chain management space, especially with the Coronavirus pandemic. The project is a joint effort by Cona, Provide, and Unibright and will display the results in the last quarter of the year. By introducing the Baseline Protocol, it will reduce the barrier entry for bottling suppliers which will include raw material vendors as well.
With the initial project trying to achieve leveraging the Hyperledger Fabric, CONA also decided to employ the Baseline Protocol in the new project because with its integration, there will be reduced delivery of errors and minimizing the cost barrier for smaller suppliers to enable easy integration. Using the Ethereum mainnet will highlight an important feature that will provide “extensibility for DeFi and Asset tokenization use-cases.”
The advent of the COVID-19 pandemic has damaged all organizations across the world and has negatively impacted the global supply chain. The pandemic also caused businesses to pivot to blockchain because of that. The International Business Machines Corporation introduced the Rapid Supplier Connect which is a blockchain-powered solution that will tackle the shortage in the medical supply chain. Blockchain has also seen a lot of use cases in the Agricultural sector as the Indian government collaborated with a blockchain company Agri 10x to provide the farmers with more profits for their produce.
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