US State Department And Coca-Cola To Use Blockchain Technology To Fight Forced Labor

US State Department And Coca-Cola To Use Blockchain Technology To Fight Forced Labor
Coca-Cola and the US State Department are implementing blockchain technology to fight forced-labor conditions globally.

The beverage giant Coca-Cola is teaming up with the US State Department and three other companies to launch a project that uses Blockchain technology to create a secure registry of workers worldwide, Reuters reports March 16.

According to the International Labor Organization, nearly 25 mln people work under forced labor conditions globally, 47 percent of whom live in the Asia-Pacific region.

Beverage companies have faced pressure from regulators to address the issue of forced labor in countries where they get their sugarcane. Last year, global supply-chain transparency organization KnowTheChain released a study which showed that most food and beverage companies fail to adequately address the problem of forced labor.

The new project will utilize Blockchains validation and digital notary capabilities to create a secure registry for workers and their contracts.

Brent Wilton, Coca-Colas head of workplace rights, said, We are partnering with the pilot of this project to further increase transparency and efficiency of the verification process related to labor policies within our supply chain.

Deputy Assistant Secretary of the Department of State expressed optimism about the project, stating that while the Blockchain cannot compel companies to respect contracts and implement ethical labor practices, it can create a chain of evidence that will encourage compliance.

The State Department said that this is its first major project regarding labor rights utilizing the Blockchain. The government agency sees Blockchain as a helpful tool in social development.

The US tech company Bitfury Group will build the Blockchain platform for the project, while Emercoin wll also provide blockchain services

16.03.2018 / 16:15 265
Brazil-Based Startup to Give Freelancing Market a Blockchain Boost Brazil-Based Startup to Give
Brazil-based startup Crafty.work plans to rebuild its freelancing platform with the help of AI and the blockchain. The company is already running a
IBM Rocking the Blockchain Tech Related Projects  400 and More! IBM Rocking the Blockchain Tech Related
The leading giant in the IT Sector IBM has declared that accordingly with 63 blockchain clients, the firm is working on 400 projects that are
CFTC's Giancarlo: US and Foreign Regulators Teaming Up on Crypto CFTC's Giancarlo: US and Foreign
U.S. regulators are working with their counterparts overseas to combat cryptocurrency fraud, Commodity Futures Trading Commission (CFTC) chairman J.
BMW Is Working With Another Blockchain Firm, This Time To Track Cobalt, Report Says BMW Is Working With Another Blockchain
Sourcing clean cobalt has led BMW to partner with a little-known UK Blockchain startup, Reuters reports German car manufacturer BMW has allegedly
Intels Blockchain Application Tracks Global Seafood From Ocean to Plate Intels Blockchain Application Tracks
As detailed in a 2016reportby Oceana, fraud is a huge problem in the seafood industry. Based on data compiled from 200 studies, the ocean
Comments (0)
Add a comment
Comment on