Coca-Cola, an American multinational beverage corporation, tests the waters of decentralized finance (Defi) in its Northern Region plant.
The project, which was announced in early August is a tech partnership between The Baseline Protocol (TBP) and the largest bottling supply chain and was coined as CONA or Coke One North America.
Aiming to begin a “Coca-Cola Bottling Harbor” for less technical barriers for suppliers, the project and its premise allow not only private and secure communication on the Ethereum public blockchain, but also to contact DeFi applications, and tokenize assets.
As well, it will streamline some cross-organizational supply chain transactions and lift transparency for the bottlers’ complex supply chain.
Furthermore, CONA reduces technical barriers from beyond its internal network by giving process for suppliers, such as raw materials’ vendors.
Other admin and paper trail documents processes like invoices requests, purchase orders, proposals, delivery, invoices, and payment are all automated.
It will mitigate errors and create a smooth flow for the suppliers once they log in.
Another critical feature of CONA is to use tokens, which allow parties to get blockchain-based tools like loans through DeFi applications.
This can be explained as a digital token on behalf of a purchase order and could be used by a supplier as security. The supplier can get working capital.
Initial reports said that CONA and its full processes are unveiled to the public Q4 2020.