Coca-Cola joins the ranks of blockchain-embracing corporations

According to new reports, Coca-Cola — an Alabama-based company, known throughout the world for its drinks — has officially joined the ranks of corporations that are adopting blockchain technology. The company has recognized blockchain’s many advantages, and it sees its implementation as the next step in its technological evolution.

Recent reports also indicate that the company’s bottlers already rely on a blockchain solution for keeping track of supply chains. Also, this specific blockchain was created for the company by a Germany-based software firm, SAP.

Major corporations shift towards new tech solutions

Older technologies have served major brands like Coca-Cola faithfully for a long time now. In fact, many large corporations are still using them to control their own supply chains. However, many are also recognizing that it is simply not sufficient when it comes to dealing with other firms and organizations.

One example is CONA (Coke One North America), which is collaborating with 12 different bottlers, and it has around 160,000 orders per day. With a busy schedule like that, tracking all of the orders is becoming more and more of a challenge for the firm.

Fortunately, the adoption of blockchain technology can resolve all issues that the company is facing, and increase transparency and efficiency alike. Not only that, but CONA also stated that it expects to cut down the duration of order reconciliation from multiple months to only a few days.

Blockchain experiments may lead to further collaborations

All transactions that the company has been making up until now went through several intermediaries, which had a negative effect on the speed of the process. Now, with the implementation of blockchain, the company will be able to save time and money.

CONA senior manager, Andrei Semenov, stated that the program had been expanded to include all franchises. If it proves to be successful, it might even lead to future cooperation between the company and other brands, such as Target and Walmart, which are also testing blockchain technology for their own uses.