Coca-Cola to use Blockchain Technology

Steven ZeniosSteven Zenios10/11/20192min
International company and brand Coco-Cola are the latest corporations to recognise the potential of using blockchain technology.

The company has now implemented blockchain technology, a technology that has moved on from its origins of Crypto.

Coca Cola uses blockchain to track all transactions within the 70 franchises. The blockchain technology has been developed and used by German Software Corporation SAP.

Coke One North America is the tech firm that manages IT operations, platforms and overseas multiple franchises that bottle and ship 160,000 products daily. Senior manager of CONA, Andrei Semenov comments:

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.

With the new technology CONA aims to reduce the duration of order reconciliation from 50 days to just a few. Other benefits will include the use of a distributed ledger that will increase efficiency and transparency.

The technology from SAP is in a pilot phase with Coca-Cola. Other big names are also trialling similar technology with Walmart testing a decentralised goods tracking system and Walmart a member of the Hyperledger Consortium for Blockchain solutions.

Blockchain technology is no longer a secret as many recognise the industry benefits of applying blockchain technology.

 

Image source by Esquire

Steven Zenios

Steven Zenios

Steven Zenios is a young author and designer with strong passion. A specialist in web design and development, blogger, author and Blockchain entrepreneur. He is the CEO of Web Theoria, a digital agency based in Cyprus. In the last 10 years, he has vastly improved his knowledge and skills to produce great pieces of work, both in the web design industry and article/blog industry. Contact Steven at +357-22029786 ext: 6120 or by email at szenios@highworthcitizen.com for editorial related questions.



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