Coca-Cola to Utilize Baseline Protocol For Supply Chain Tracking with Exposure to DeFi

This project is the brainchild of corporate giants Ernst and Young, Microsoft and ConsenSys, the Ethereum venture studio.

Coke One North America (CONA) has partnered with Provide and Unibright to streamline the supply chain of the largest coca-cola bottlers in the region by integrating the Baseline protocol as a fundamental technology.

This initiative will not only improve the communication between internal and external stakeholders in the bottling process but also expose them to the Decentralized Finance (DeFi) ecosystem. A crypto niche that is currently on the rise with over $4.45 billion in locked digital assets.

Notably, the Baseline protocol integration is an advancement from CONA's earlier adoption of the Hyperledger Fabric, whose target was to streamline the internal network of the twelve largest Coca Cola bottlers in the region.

The Pioneer project, which leveraged Hyperledger Fabric as early as 2019, obtained favorable results for increasing transparency and efficiency within the supply chain. CONA has now decided to advance this course by enabling communication with external stakeholders as well.

The Baseline Protocol in CONA's Bottling Strategy

With so many processes involved, the bottling process is one of the most costly operations in the supply chain for Coca Cola's products. This might soon change following this initiative by CONA to utilize the Baseline protocol. Ideally, the goal is to create a “Coca Cola Bottling Harbor,” which will help seamlessly onboard the bottling suppliers into the Ethereum-built ecosystem.

Despite operating on Ethereum's public Mainnet, the Baseline protocol enables large companies or entities to transact and communicate privately on the network. This project is the brainchild of corporate giants Ernst and Young, Microsoft and ConsenSys, the Ethereum venture studio. Launched earlier this year, and making great strides in setting up base support for businesses to build decentralized ecosystems. Ernst and Young global blockchain leader, Paul Brody, has since told Decrypt that,

“It's great to see the Baseline Protocol growing beyond the original code base, with companies like Unibright and Provide. Services building and applying it at scale. It confirms we made the right choice with Consensys and Microsoft to donate this work into the public domain and create a foundation structure to steward development.”

The Cutting Edge

Apart from running operations on the Ethereum public blockchain, the bottling suppliers and other stakeholders will be exposed to DeFi products. They will be able to access the said portfolio through various means, including tokenized invoices.

Initially, a transaction would have been impossible. This is because of limitations in jurisdictional markets and unsystematic barriers obstructing centralized record keeping. While the project is quite optimistic, the partners identified some challenges like undesired changes to purchase orders and manual errors that may hinder CONA's initial expected results set for Q4, 2020.

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Edwin Munyui
Edwin Munyui
Edwin is a FinTech enthusiast with a particular interest in blockchain technology and cryptocurrencies. He has worked as an author in the blockchain space since 2017 and enjoys creating content that both crypto veterans and newbies can understand. His simple writing style and financial market knowledge have made him a reputable fundamental and technical analyst with the ability to handle any topic around blockchain and crypto over the years.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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