Victor Ugochukwu · Dec 14, 2020 . 8min read
COCA-COLA Bottlers CONA trials DeFi Ecosystem on Ethereum
A new “Coca-Cola Bottling Harbor,” CONA will allow supply chains to access DeFi applications. It will help to reduce technical barriers for suppliers.
By Komal Joshi · Aug 5, 2020 . 6min read
On Monday, Coca-Cola bottling supply chain stated in a blog post that it is trialling in the DeFi (decentralized finance) ecosystem on ethereum. According to the declaration, a new project will witness CONA Services (Coke One North America) establish a “Coca-Cola Bottling Harbor.” It will help to reduce technical obstacles for suppliers. Additionally, Cona is the tech partner of the largest Coca-Cola bottlers in the region.Thus Cona trails Defi ecosystem through Ethereum
How Baseline Protocol Operates
The Baseline Protocol facilitates the project. The Baseline Protocol is an approach to utilizing public Mainnet as a typical frame of reference. It provides utilization between systems, including traditional corporate systems of record. Additionally, it enables usage for any database or state machine. It operates for different blockchains or DLTs. It is promising as a way to decrease capital expenditure. Additionally, it reduces other overheads while increasing operational integrity.
Baseline Protocol allows them to interact and transact privately on the Ethereum public blockchain. Moreover, it provides access to DeFi applications and tokenizes assets. It was established in March 2020 by Microsoft, professional services firm Ernst & Young, and Ethereum venture studio ConsenSys. Thus, the protocol allows confidential and comprehensive collaboration within enterprises.
Growing Tech Savvy with Baseline and CONA
In 2019, the organization adopted Ethereum’s Hyperledger Fabric. Baseline Protocol is not CONA’s first Ethereum integration. However, it performs on software multinational SAP’s blockchain-as-a-service platform (BaaS). The purpose was to streamline cross-organizational supply chain transactions. Moreover, it also helps to boost transparency for the bottlers’ supply chain.
CONA is elongating its use of the Ethereum platform, with the injection of Baseline Protocol. Requests, proposals, delivery, purchase orders, invoices, and payment can now be automated. Accordingly, it helps in minimizing errors and making it easier for minor suppliers to combine with the network.
Extending to Ethereum’s mainnet, CONA’s network also enables a key feature. The characteristic is the use of tokens which allows parties to access blockchain-based tools like loans via DeFi applications. A digital token designating a purchase order, for instance, could be used by a supplier as security. Therefore, it results in the gain of working capital via Digital token.
Introducing Baseline Protocol will enable CONA and its suppliers to utilize Ethereum on DeFi ecosystem. It will allow business transactions to use the internet, but more confidentially. The project schedules its initial results in Q4 2020.
Follow Cryptodose for more updates
Victor Ugochukwu · Jul 13, 2020 . 7min read