The Blockchain Technology seems have made a U-turn in the world of innovations where things are now going digital. Talking of Blockchain, On Friday, Coca Cola Co. and the U.S. State Department along with two other companies told that they are launching a project which would utilize blockchain’s digital ledger technology in order to create a secure registry database for workers that will help fight the use of forced labor globally.
The State Department said this is the government agency’s first major project on the forced labour to use blockchain technology, reinforcing the technology’s growing application for social causes now.
As per the records at the International Labor Organization, almost 25 million people work in forced labor conditions around the world, out of which 47 percent of them are in the Asia-Pacific region.
With the plight of the forced laborers, Food and beverage companies are under pressure to bring under light and work against the the risks attached to forced labor in countries where they obtain sugarcane. According to a study released last year by KnowTheChain (KTC), a partnership founded by U.S.-based Humanity United, it was shown that most food and beverage companies lag behind in terms of effort to fix this problem.
Coca Cola said that it has been constantly exploring multiple blockchain projects for over a year now. Brent Wilton, the company’s global head of workplace rights, said in a statement,
“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.”
Blockchain Trust Accelerator (BTA), a non-profit organization involved in the project., said that this partnership will safeguard registry for workers and their contracts using blockchain’s validation and digital notary capabilities.
Apparently, BTA is a global platform for harnessing blockchain to deliver social impact while the State Department said it will provide expertise on labor protection.
The Bitfury Group, a U.S. tech company, will be responsible for building the blockchain platform for this project, while Emercoin will provide blockchain services as well, Bitfury Chief Executive Valery Vavilov and Emercoin Chief Technology Officer Oleg Khovayko said on Friday.
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