Beverage giant Coca-Cola, the US State Department, and three other companies teamed up to launch a project that uses blockchain technology to create secure registry files of workers around the world.
According to the International Labor Organization, approximately 25 million people work under forced labor conditions worldwide. Of these, 47% live in the Asia-Pacific region.
Beverage companies are under pressure from regulators over harsh working conditions in the countries they buy their sugarcane from. Last year, global supply chain transparency organization KnowTheChain published a study showing that most food and beverage companies are failing to adequately meet the challenge of working hard.
Coca-Cola will participate in Blockchain technology tests
The new project will help workers and Brent Wilton, Coca-Cola’s chief workplace rights officer, said, “Further increasing the transparency and efficiency of the verification process regarding labor policies in our supply chain. We are partnering in the trials for this project.”
The Deputy Secretary of the Ministry of Foreign Affairs expressed his optimism about the project. He stated that while blockchain cannot force companies to respect contracts and implement ethical working practices, he stated that it can create a chain that will encourage compliance. Government agency sees Blockchain as a useful tool in social development.
Cointelegraph