The big boys are confirming what we crypto maniaks have known for a long time now -- blockchain is incredibly useful. Case in point: PepsiCo conducted a blockchain trial on its supply chain. The trial concluded with a 28 percent boost in supply chain efficiency. For a giant like Pepsi -- those are huge savings.
The big boys are confirming what we crypto maniaks have known for a long time now -- blockchain is incredibly useful. Case in point: PepsiCo conducted a blockchain trial on its supply chain. The trial concluded with a 28 percent boost in supply chain efficiency. For a giant like Pepsi -- those are huge savings.
The results are encouraging, and we plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact. (Farida Shakhshir, PepsiCo’s director of consumer engagement for the Asia, Middle East and North Africa regions)
The trial was titled “Project Proton.” Its objective: to examine if blockchain could address “industry challenges” in a specific area called “programmatic advertising.”
Apparently, the trial carried out a programmatic end-to-end supply chain reconciliation. They used Zilliqa’s blockchain platform. PepsiCo’s project partner and media agency Mindshare assisted in the effort.
Mindshare explained that Zilliqa’s smart contracts were used to automate the programmatic supply chain, adding:
“These smart contracts reconcile impressions that are delivered from multiple data sources with payments facilitated using an internal Native Alliance Token (NAT) all in near real time, resulting in major efficiency gains and complete transparency for the brand owners.”
Farida Shakhshir, PepsiCo’s director of consumer engagement for the Asia, Middle East and North Africa regions, said:
“The results are encouraging, and we plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact.”
Will more Fortune 500 companies use the blockchain?
Oh yes. Forbes wrote a list of the 50 biggest companies using or investing in blockchain. The names include such titans of industry as American Express, Wells Fargo & Company, and Apple. Even the Bank of China -- under a government that banned Bitcoin -- has partnered with tech giant Tencent to test financial applications of blockchain as well as filing numerous patents.
Berkshire subsidiary BNSF railroad and Richline Group are exploring blockchain to streamline their supply chains. JPMorgan Chase & Co. and its Quorum have expressed interest. Bank of America is helping build a simpler way to track securitized home mortgages. Apple filed a patent to use blockchain technology to timestamp data. The list goes on.
Blockchain will become part of our everyday lives. It’s inevitable -- and it’s exciting!
