Following the deployment in 2019 of a privately owned Hyperledger Fabric blockchain, Coca-Cola bottlers are expanding their use of this technology. With Baseline Protocol, the company is opening up its blockchain to its suppliers.
Coca-Cola is no longer in its infancy in the field of blockchain technology, for example, in 2019, some of its bottlers in North America started production of a privately owned blockchain – based on Hyperledger Fabric.
The objective of the project was to “streamline” the exchanges between the franchised bottling companies in the supply chain. The implementation was carried out by the technology partner of twelve of Coca-Cola’s leading bottlers, CONA Services.
Baseline Protocol to integrate Private Blockchain and Ethereum
The supplier is now preparing to orchestrate a second phase in the adoption of the blockchain by the beverage brand’s manufacturers. CONA plans to exploit Baseline Protocol, a solution that allows companies to carry out private transactions on the public Ethereum blockchain.
As project partner Unibright points out, the goal is to establish a “Coca-Cola Bottling Harbor” or trusted network for Coca-Cola bottling suppliers. And this time it will bring together internal and external players.
“This not only streamlines the ability of internal bottlers and suppliers to supply products to the bottling network but also external suppliers (e.g. raw material vendors who supply cans and bottles) can benefit from an integrated, private and distributed network,” says the company.
Within this framework, the public Ethereum Mainnet blockchain acts as a permanent “frame of reference” on a pay-per-use basis. In addition, the solution allows data to be stored in traditional enterprise systems.
A step before DeFi and asset tokenisation
But the interest of the blockchain is first of all the automation and the operational efficiency gains that it allows. For example, this extended adoption paves the way for “the automation of complex, private and inter-organizational business processes. »
In addition, future architecture will allow new use cases for the blockchain, including tokenization. In particular, Unibright cites uses in the fields of decentralized finance (DeFi) and asset tokenization.
However, these uses are not yet current. The objectives sought at this stage relate primarily to dematerialisation and the reduction of friction on the supply chain. The project must establish that the “versioning” of documents (purchase orders, etc.) helps to eliminate coordination problems.
This approach should ensure that all parties accept the latest authoritative versions. For Coca-Cola bottlers, the project should also allow the tokenisation of an invoice as part of a standardised process. To achieve this, the existing Hyperledger implementation will, therefore, have to be “extended, augmented and integrated” successfully with Baseline Protocol.