NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Coca-Cola Taps Blockchain to end Supply Chain Forced Labor

newsbtc
newsbtc
7 years ago
2 mins read
cocacola

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Blockchain technology has a lot of different purposes in the real world. Outside of the financial sector, there are dozens of opportunities waiting to be explored. Coca-Cola and the US State Department are looking into distributed ledgers as we speak. This technology is of great interest to them in terms of addressing forced labor.

Coca-Cola and Blockchain Technology

Major brand names have shown an increasing interest in blockchain technology over the past few years. Most of those projects are still in the early stages of development, though. Coca-Cola seems intent on taking a more hands-on approach in this regard. The company is looking to address forced labor in its supply chain. To build up this new infrastructure, the company receives support from the US State Department.

It is evident companies such as Coca-Cola need to take a positive approach in this regard. More specifically, the company faces criticism over its sugar cane supply. Some people claim the company effectively relies on forced labor in this regard. As there is no way to provide adequate transparency in this regard, refuting these claims is pretty difficult. This is where blockchain technology can come into the picture, as it will herald a massive systemic change for the company.

Being transparent is almost the new normal in 2018. Although a lot of companies are still on the fence about blockchain, Coca-Cola is confident they can develop a proper solution. Without support from the private and public sector, making an impact is pretty difficult. Adding more transparency through a blockchain infrastructure also poses a new set of challenges to take into account.

Addressing the key Problems

There are many reasons why Coca-Cola taps this technology for this specific purpose. First of all, the company will deal with land rights, child labor, and forced labor. Right now, the focus rests on ensuring workers are properly compensated and protected by the law. Additionally, the hiring practices can use a lot more transparency as well. Together with the US State Department, these problems can be addressed directly.

It seems this venture will also rely on the use of smart contracts. Doing so will result in greater transparency and record keeping to benefit laborers and their associated work contracts. It should also make it possible to improve verification procedures to bring child and forced labor to a halt entirely. This is not a process that will be completed overnight, though.

It is good to see private companies embrace blockchain technology in this regard. Coca-Cola is just one of the multiple companies taking this proactive approach as of right now. While it remains to be seen how this venture plays out, the first steps have been taken already. It also helps legitimize the concept of blockchain technology as we know it. More real-life use cases for distributed ledgers can only be considered to be a good thing.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 1

  1. Noah Hornberger says:
    7 years ago

    The article speaks of the problem and kind of gives a ‘hand-wavy’ solution. Exactly how and why are smart contracts better than the current system? Why is the current system lacking protections and how exactly, will the benefits of blockchain do anything at all? All I see is a highly keyword stuffed chunk of writing that does not actually teach me anything more than the headline itself.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 1

  1. Noah Hornberger says:
    7 years ago

    The article speaks of the problem and kind of gives a ‘hand-wavy’ solution. Exactly how and why are smart contracts better than the current system? Why is the current system lacking protections and how exactly, will the benefits of blockchain do anything at all? All I see is a highly keyword stuffed chunk of writing that does not actually teach me anything more than the headline itself.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Sees $6 Billion In Tokenized Funds As Big Players Jump In

Ethereum’s smart-contract platform has crossed a major line. According to data shared by Token Terminal on X, the total value...

Christian Encila 1 week ago
XRP

XRP Could Hit $35 If It Captures A Quarter Of Remittance Market By 2029

XRP slipped to around $2.22 on July 7, marking a quiet session for the token. That price sits well below...

Christian Encila 1 week ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Ethereum’s price action is gearing up for a surge of epic proportions, according to crypto technical analyst MasterAnanda on the...

Scott Matherson 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ripple

Ripple’s $21 Trillion Dream: What Capturing 20% Of SWIFT Volume Means For XRP

Scott Matherson 2 days ago
Bitcoin

Bitcoin Stalls After Rally: Will It Blast Through $125,000 Or Slip Back To $110K?

Scott Matherson 2 days ago
Ethereum

Ethereum Chart Confirms Bull Flag Breakout: $3,834 Target Comes Into View

Scott Matherson 3 days ago

Premium Sponsors

Press Releases

  • 2 криптовалути с небесни оценки...

    2 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    2 hours ago
  • 仮想通貨おすすめ|高騰中の評価額がリスクに見合うかもしれない3つの暗号資産

    ...

    2 hours ago
  • 新しい仮想通貨|ビットコインの強気相場に乗るための注目トークン

    ...

    3 hours ago
  • ビットコインの上昇と規制強化を受けて今注目のアルトコイン

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.