Coca-Cola is joining hands with the U.S. State Department in addition to three organizations – Bitfury Group, Emercoin, and Blockchain Trust Accelerator (BTA) to start a blockchain-based project that aspires to build a secure registry for employees to fight the utilization of forced labor globally. This is the first key State Department’s blockchain project, which will serve to reinforce the growing applications of the technology for social and humanitarian causes.
The initiative has the goal of applying blockchain’s distributed ledger technology to establish a secure and decentralized registry for employees and their contracts, as per the BTA. The non-profit organization is engaged in the project that concentrates on actual global blockchain applications to bring about social impact. Bitfury Group, a U.S. tech company together with Emercoin will establish the blockchain platform for this project.
According to the State Department, the agency will give proficiency on labor security. “The Department of State is thrilled to work on this ground-breaking blockchain-based pilot,” said Deputy Assistant Secretary Scott Busby in an email to Reuters.
Food and Beverage Companies – Forced Labor
In the recent past, food and beverage companies have been encountering added pressure to deal with the danger of forced labor in nations where they obtain sugarcane. Last year, a study released by KnowTheChain (KTC) last year, which is a partnership established by U.S.-based Humanity United, portrayed that many foods and beverage firms decline in their effort to handle this concern. As per the International Labor Organization, approximately 25 million people provide services in forced-labor conditions globally, with 47% of them coming from the Asia-Pacific region.
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To stop this problem, Coca-Cola is playing a key role as part of the assurance to carry out 28 national studies on land and labor rights for its sugar supply chains before 2020. While the blockchain project is still at starting phase, it seems to represent an enhancement over a contemporary employment system that regularly lets organizations abuse employees with relatively little consequence.
In spite Coca-Cola taking a step in the appropriate direction, there are already some limits experienced in this project. As mentioned by Busby, blockchain can assist in persuading governments and companies to respect work contracts, but it cannot force them to do so.
Also, the digital nature of blockchain raises some implementation issues such as accessing relevant information by workers since those affected may not be able to access computers or smartphones.
Nice to see the blockchain being used effectively. Often we think of it just for currencies, but it is so much more than that. In the future I think currencies will be only a small part of it and they are just the beginning.
@trevord I agree. Blockchain is a wide technology with broad uses, and it's just the matter of time.
Hi @cryptofy. A good project and very interesting as well. I appreciate you detail. Greetings.
@romelcordova Hi too, thanks for your comment. Keep following for such similar posts.
I will not stop reading you, since the content is very interesting. Very different from what I write so it complements me. :)
@romelcordova Thank you and welcome.
Great idea to market developments.
@yusfriadi very true.
Is excellent the initiative of this project put in trial period and the accounting record of the block chain will be the indicator of the percentage of the incidents of the worldwide forsozo work of the workers of the coca cola company and this will benefit the human talent in social and humanitarian.Thanks for thank sharing this great work.
@magdasierra True. Welcome.
This is a good start, other companies should follow suit.
@praz735u5 True.