News Coca-Cola Supply Co Expands Blockchain Efforts

Coca-Cola Supply Co Expands Blockchain Efforts

-

- Advertisment -

Coca-Cola’s supply chain operations are run by an IT firm called Coke One North America (CONA), and the company recently had such a successful run with blockchain software provider SAP that it’s going to expand the program from two to 70 manufacturers, according to reports

Those manufacturers deliver about 160,000 bottles a day. The purpose of the blockchain push was to help improve distribution and allow the manufacturers access to others’ orders and specifications. 

That way, if there’s a stock shortage in one place, there are easy ways to fix the problem.

“There are a number of transactions that are cross-companies and multi-party that are inefficient, they go through intermediaries, they are very slow,” senior manager at Coke One North America Andrei Semenov said. “And we felt that we could improve this and save some money.”

As a result of the program, more bottles were sent out and more efficiency was attained. CONA wants to work with Walmart and Target next.

“What we achieved here with blockchain is creating a document flow across the supply chain,” said Torsten Zube, head of SAP’s Innovation Center Network.

PepsiCo also recently started trying out blockchain, and it said that efficiency was raised 28 percent. 

In other blockchain news, The CEO of Twitter, Jack Dorsey, is investing in CoinList, a company that helps startups raise capital through cryptocurrency sales.

Dorsey, who has been an advocate of bitcoin for a long time, is one of many investors in the 2-year-old company’s $10 million funding round.

The funding round was led by Polychain Capital.

Dorsey, who is also the CEO of payments company Square, has bitcoin of his own and often shares his positive opinion of the cryptocurrency. This is the first time Dorsey has invested in CoinList. Square recently said that it was going to introduce a new service called Square Crypto.

CoinList, which is based in San Francisco, jumped to popularity in 2017 during the cryptocurrency boom in initial coin offerings (ICOs), where companies would raise money in exchange for tokens. The market for ICOs blew up and then bombed with bitcoin’s roller coaster ride in value.



Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

GoCrypto presents truly contactless payments with a simple solution for merchants and buyers

7 April 2020 — The recent events have rapidly changed the way we live, including our shopping...

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...
- Advertisement -Coca-Cola Supply Co Expands Blockchain Efforts

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you