“Coca-Cola bottling supply chain” will be included in decentralized financial applications. The new initiative to reduce technical barriers for Coca-Cola’s suppliers will allow them to communicate and trade privately on the public Ethereum blockchain.
The new project, announced on Monday, will set up a “Coca-Cola Bottling Port” to reduce technical barriers for suppliers from CONA Services (Cooke-Cola Bottling Port), the technology partner of the largest Coca-Cola bottlers in the region.
The project was activated by The Baseline Protocol, a middleware solution for large companies. The project will enable them not only to communicate and trade privately in the Ethereum general blockchain, but also to access DeFi applications and tokenize assets.
What will be provided with the project?
Launched in March 2020 by Microsoft, professional services firm Ernst & Young and Ethereum venture studio ConsenSys, the protocol allows confidential and complex collaboration between businesses.
In essence, when organizations use Ethereum’s public home network, it offers a number of tools, including zero proofs of information that keep business transactions, smart contracts and communications confidential. With the system, the beverage giant wants to take advantage of blockchain technology with a wide range of key market participants in the raw material supply and product distribution chain. The project will reduce the barrier entry process for Coca-Cola bottling suppliers and will include raw material vendors.
Paul Brody, the main and global blockchain leader of Ernst & Young, said:
“It’s great to see the protocol grow beyond the original code base with companies like Unibright and Provide. It develops services and implements scale. ”
The project is planned to show its first results in the 4th quarter of 2020.