Coca Cola will use blockchain and distributed ledger solutions to improve the supply chain logistics as we are reading further in the latest blockchain news today.
Blockchain is now considered as a solution for supply chains and this is exactly what the Coca Cola bottling companies want to use in order to improve the logistics of the supply chain. As reported by Business Insider, more than 70 franchises of the Coca Cola company worldwide can now use the blockchain solution by SAP and unlike the public blockchains, this new solution still keeps a cryptographically protected and tamper-proof record.
The advantage of blockchain technology is that more than a dozen suppliers will be able to fill the orders that are viable by everyone using the distributed ledger. Cone One North America is a company that has about 12 suppliers with thousands in orders that believes that the SAP blockchain solution will lower down the time for reconciling and organizing the orders. The senior manager at CONA Andrei Semenov said:
“There are a number of transactions that are cross-companies and multiparty that are inefficient. They go through intermediaries; they are very slow. And we felt that we could improve this and save some money.’’
The supply chain solutions include filing, origin information, and order tracking so the blockchain can carry all of this data will still publishing and broadcasting the information. The SAP solution is not based on a public protocol but it is still boosting the public profile as a specific use case. The partnership between Coca Cola and SAP is now in a testing stage and all of the entities are on board to log the records of the supply on the permissioned blockchain.
However, this program could grow further in a partnership with supermarkets such as Walmart and Target at least this is what Semenov hopes for. Walmart has been very interested in blockchain adoption and is testing the use case for establishing the decentralized goods tracking the ecosystem. The supermarket is also the part of the Hyperledger consortium for blockchain solutions.
When it comes to public blockchains, tracking products and deliveries is the aim of projects such as VeChain and NEM but almost any public blockchain can be used for tracking and record-keeping.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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