Coca Cola has decided to exploit the potential of decentralized finance (DeFi) at Ethereum to improve the bottling supply chain.
Coca Cola, Blockchain and more in Quick News
New Coca Cola project at DeFi
Yesterday, Coca Cola announced a new project that will place CONA Services (Coke One North America), the IT (Information Technology) platform for Coca Cola’s bottling business, within the world of DeFi.
The objective of the project will be to establish a „Coca Cola Bottling Port“ to reduce technical barriers for suppliers.
Basically, it was in 2019 that the first set of Coca-Cola bottlers in North America adopted Hyperledger Fabric’s Blockchain platform.
However, CONA now wants to extend the internal network use case to a wider audience.
Therefore, the project, enabled by The Baseline Protocol, will allow companies not only to communicate and conduct private transactions on the Ethereum Blockchain, but also to access DeFi applications and tokenize assets.
In this sense, it is desired to establish a „low-barrier network bonding process for Coca-Cola bottling suppliers.
For those who do not know, The Baseline Protocol was launched in March 2020 by Ernest & Young, Microsoft and ConsenSys with the objective of enabling companies to adopt the Ethereum Blockchain.
So, in essence, The Baseline Protocol provides a set of tools for business transactions, smart contracts and communications to remain private while companies use the Ethereum Blockchain.
DeFi and financial system: integration and changes
DeFi has become one of the most relevant trends in finance. For those who don’t know, DeFi relies on platforms that eliminate human intermediaries and paperwork, and replaces them with Smart Contracts.
The interesting thing is that it has been a sector with extraordinary growth. So much so that it has even led many to believe that a bubble may be forming.
Especially since there is a relative ease with which new products and services can be created and offered. Which, ultimately, significantly reduce friction in finance.
Coca Cola is joining this trend by seeking to reduce technical and cost entry barriers for bottling suppliers.
Basically, processes are automated that minimize errors and facilitate the integration of smaller suppliers with the network.
So, Coca Cola joins the companies that have decided to exploit the potential of DeFi at Ethereum.