A major partner of the Coca-Cola bottling company CONA will implement the Baseline protocol to improve transparency across the supply chain.
The partner of the largest Coca-Cola Co (NYSE: KO) bottling company in the United States looks to widen its use of blockchain technology across the entire sphere of the company’s supply chain.
A major partner of the Coca-Cola bottling company, Coke One North America (CONA), situated in the United States, will begin to implement the Baseline protocol as a viable means to improve the transparency and reduce friction in the “supply chain cross-organization.”
In the Project, CONA will partner with distributed accounting technology companies and founding members of the Unibright and Provide, Baseline Protocol, to form a “Coca-Cola Bottling Port,” which will allow for optimized transactions between internal suppliers of bottlers and external suppliers of raw materials.
Blockchain Adoption by Coca-Cola Bottlers
Unibright announced the Coke-One-North-America (CONA)’s next plan of action is to find new ways to expand their use of blockchain technology rapidly throughout their supply chain.
Last year, it was announced that the 12 largest Coca-Cola bottlers in North America had adopted the use of the Hyperledger Fabric-based blockchain platform.
Their adoption ensures that all of their supplies internally and chain management will drive increased transparency while aiding efficiency in the convoluted bottler’s supply chain.
In this Project, the CONA seeks to expand their Distributed Ledger Technology (DLT) use far beyond all of their internal network to merge with providers from external sources easily. Some of these include, the vendors of raw materials and the makers of bottles and cans.
Besides facilitating that all data are transparent and eliminating alterations and meddling, the project would enhance the automation of complex inter-organizational transactions. The Baseline Protocol to be used in the process also readily be deployed in asset tokens and has use cases in decentralized finance.
Results Expected in Fourth Quarter (Q4)
The project will be solely based on the Ethereum‘s core network (mainnet). It’s essence is to create a more “secure private integrated distrbuted network” for CONA.
The co-Founder of Baseline Protocol who is also a ConsenSys developer, John Wolpert described Baseline as a system that creates consistency in data among participants by using “zero knowledge” concept.
The Mainnet in baselining is used as a “middleware” to confirm the authenticity of the data. At the same time, zero-knowledge tests are applied to ensure that other network participants cannot access the data of the entities participating in the protocol.
The release of the Baseline Protocol was in March 2020 by Microsoft, Ernst & Young, and ConsenSys.
Results of tests made on the protocol are expected during the fourth quarter of 2020. Unibright is trying to prove that zero-knowledge tests are applicable to regular businesses in the quest to improve efficiency, eliminate coordination problems and tokenization of documents.
Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.