Can Blockchain Help Fix Broken Supply Chains in 2022?
We first heard about the potential of blockchain in supply chains several years ago, and almost immediately were thrust into a cycle of hype and hope of what they could do for us, followed by a “trough of disillusion” when nothing moved as fast as we had wanted. But that doesn’t mean startups, enterprise and consortia alike haven’t been quietly working to advance the technology, and pushing to apply it in ways that we may not have expected. One nonprofit consortium, the Baseline Protocol, has been working on what they call “baselining” enterprise systems. By creating a layer on the Ethereum blockchain that enterprise ERPs like SAP can communicate in a unified way, enabling cross-company and inter-enterprise communication. Coca-Cola is currently piloting this in their bottling companies in North America, and is seeking to improve transparency across the bottling supply chain. Baseline Protocol is also working to modernize EDI, a technology that has existed since the 1940s, to connect disparate systems for things like order placement, invoicing, inventory tracking and more. Baseline is backed by Microsoft, Consensys, EY and Accenture.