The beverage giant Coca Cola will use blockchain technology in the future to optimize supply chain tracking and middleman exchange. For this purpose, the company uses the technology of the German software manufacturer SAP.
The technology company The Coke One North America manages the IT operations for the 70 bottlers who work with the Limo brand. It uses SAP Blockchain technology to improve the complex production process. This gives the franchise company better insights into the holdings of other partners and enables them to transact transactions faster.
Essentially, blockchain technology provides a way to track data streams transparently. The Ledger ensures a global exchange of information between companies, which in particular can optimize logistics processes. But while cryptocurrencies such as Bitcoin have made Blockchain technology famous, large corporations are still reluctant to migrate their operations to Blockchain.
Andrei Semenov, Senior Manager at Coke One North America, told the news magazine Business Insider:
There are a variety of inefficient transactions across companies and industries. They run via intermediaries and are very slow. We thought we could improve that and save some money.
Despite the benefits Blockchain brings to logistics companies, distributed ledger technology is still skeptical of large companies. So far, there is still a lack of pioneering pilot projects that demonstrate the benefits of large scale applications. When Coca-Cola, one of the largest corporations in the world, relies on technology, it sends a far-reaching signal to other corporations.
With SAP, Coca Cola has an experienced tech group at its side. The software vendor has recently entered into a collaboration with blockchain company Chronicled, working together to verify prescription drugs. The development of a blockchain-based system is intended to help companies implement U.S. Pat. Helping Supply Chain Security Act (DSCSA).
image by Shutterstock
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise