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Transnational corporations begin to adopt Blockchain

Blockchain

Coca Cola adds technology to its production processes

World-renowned companies continue to advance in the processes of modernization of their infrastructure. In view of the business objective of any company (increase profit and reduce costs), blockchain technology appears as a fundamental and innovative tool.

A bottling company associated with Coca Cola recently incorporated distributed accounting technology (DLT) into its production process. It is Coke One North America (CONA), which will implement the baseline protocol, in order to make each link in the production chain transparent.

CONA will form a partnership with blockchain technology firms and members of the Unibright and Provide baseline protocol to create a ” Coca-Cola bottling Port.” The new system is expected to generate an optimization of transactions between internal and external vendors.

However, this is not the first intervention of technology in the soda giant. Last year, through the Hyperledger Fabric platform, Coca Cola began experimenting with technology in the processes of 12 bottlers based in North America.

CONA’s aspirations seek to extend the scope of the new processes to future partnerships with companies supplying raw materials, bottles and cans that have a stake in the Coca Cola World.

“Baseline Protocol” will create a “more secure integrated private distributed network”, focused on the mainnet network (based on Ethereum). Since the firm assured that they expect results of tests conducted in the last quarter of the year.

Finally, in recent weeks, the World Economic Forum has again spoken out about the use of technology. The agency highlighted blockchain’s potential to increase companies ‘ profits in terms of Production, Transparency, costs, and resource optimization. As an example, WEF pointed to IBM’s Food Trust Platform, which has served as a technology arm for many companies that decided to implement blockchain in their production processes, such as Walmart or Nestlé.

What do you think?

Written by S. Parmar

S. Parmar is a digital marketing and cryptocurrency enthusiast, who always learns and predicts new things. He has 4 years of experience in cryptocurrency.

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