Coca-Cola puts the future of the Blockchain technology

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The possibilities of the Blockchain are varied and can be used in various sectors of the economy. More and more companies worldwide are recognizing the potential and the opportunities stekcen behind this new technology. Now, the Multi-billion Dollar company Coca-Cola has announced that it also wants to put on the Blockchain.

Coke One North America (CONA), a technology company, which is engaged with the Supply Chain Management of the company, Coca-Cola, has directed his gaze to the Blockchain. According to Business Insider CONA, making every day over 160,000 Coca-Cola products, has made an agreement with the German software company SAP. With the tailor-made Blockchain-solution of SAP CONA wants to reduce the order-matching period of about two months on a handful of days. This is the time that is needed to check whether an order is invoiced, shipped, and was funded (freely translated):

There are a number of transactions, the company are cross-cutting and cross-party support, and inefficient,” said Andrey Semenov, Senior Manager at CONA, compared with BI, “you have to go through intermediaries; they are very slow. And we thought we could improve and save some money.

A first pilot program brought a positive result, so that a higher number of bottles has been delivered. This was not the only positive result. The SAP platform was recorded after the test run, a large interest from other companies. The Blockchain technology will allow CONA to gain a better understanding and Overview of the 70 bottling plants within the 21-billion-Dollar-network per year. In view of the fact that these companies differ from each other, was to exchange the Problem of data. Semenov explains how a consensus was reached to ensure that all parties were satisfied (freely translated):

There was a negotiation and discussion to achieve a consensus about what data we wanted to share. We started with a huge list of data attributes, and we restricted them to the list, to which all agreed.

It is worth noting that the auditing firm Ernst and Young is trying to create a similar block-chain based method for the connection of a company, and they tried to solve the Problem of data exchange by developing their own privacy Tools for the public Ethereum block Chain. But until then, companies like Coca-Cola may have to compromise in order to prevent that your data will be passed on to third parties. It seems that Coca-Cola could have been from industry rival PepsiCo spurred. Already in may, the Blockchain-a test run of Pepsi, called “Project Proton delivered”, similar to good results and increased the efficiency of the supply chain by about 28 percent. With the help of Smart Contracts, which have been developed by the Blockchain-a platform Zilliqa, payments can be carried out nearly in real time, which resulted in significant efficiency gains.

These developments clearly show that the Blockchain is not a fad, but more and more projects worldwide, and is piloted more and more with positive results. The Blockchain can not only move digital values from A to B, but also much more complex problems through the use of dApps, or Smart Contracts solve.

Featured Image: Fotazdymak | Shutterstock

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