Blockchain and Cannabis: From Seed to Sale

Blockchain and cannabis are two of the most exciting emerging industries in modern times. Both are constant topics of discussion in media and politics on national, state, and local levels.

The blockchain is where the true value lies in cannabis, though. Supply chains are desperate for blockchain technology, and it’s no more apparent than in the legal medical and recreational cannabis industry. Seed-to-sale tracking is mandatory, and each state has different requirements and a different system of record. The cannabis supply chain can easily be disrupted by the right blockchain if they play their cards right.

Using blockchain technology, cultivators can input details about each crop: e.g., the date the flower was harvested, pesticide levels throughout the growth cycle, and information about cross-pollinated plants. The data can be stored and verified via blockchain, and instantaneously shared with all parties on the blockchain platform. These parties can be other members of the cultivation team, cultivators in different facilities, potential retailers or producers, and even end-use consumers. This data will travel with the flower from seed to sale.

When the product is ready for pick-up from a grow site, the blockchain platform can verify that a distributor is licensed. Implementing blockchain can therefore prevent unlicensed distributors with fabricated paperwork from stealing goods. The platform will also maintain all records of a transaction or series of transactions: e.g. shipping manifests, receipts, purchase orders, lab results, etc. Blockchain can also help ensure that products are being properly labeled. When a label is created, a photograph or file of the label can be uploaded to the blockchain. Members of the blockchain can verify that the label is correct before it reaches the product.

Because all information recorded in blockchain is verifiable by other members on the platform, blockchain will remove the need for tedious paperwork at each step in the supply chain. Cannabis will be able to move freely from licensee to licensee without any added hassle. Regulators will gain a streamlined audit tool, and customers will be able to ensure that they are only getting the best and safest products. Ultimately, blockchain can improve the overall integrity of the track and trace system, and minimize the time it takes for the product to get from seed to sale.

The industry saw an uptick in innovation as a result. No longer confined to the edge of the economy, innovators in the cannabis space are taking on challenges that the still-budding industry has yet to solve. From product quality assurance to consumption-related law enforcement, their work is cut out for them. Innovators in the cannabis industry are using blockchain to explore how products can be safer and processes more efficient. Enthusiasts are linking up on cannabis-specific, blockchain-linked social networks. Expert horticulturalists are passing along their knowledge to novice growers on blockchain-powered platforms. Financially-minded innovators are creating solutions for countless unbanked dispensary owners. Combined, these developments represent the growing impact of blockchain technology in the world of legal cannabis.

However, among those projects, CannaCor is one of the most viable cannabis crypto projects that passed across our radar so far. Many, like MCAN Coin, Pot Coin, Cannabis Coin, or Hemp Coin, are focused on crypto payments in cannabis. Cannacor, aside of the payment solution, will also focus to implement sustainable production facilities and expansion of cannabis with the integration with blockchain technologies to ensure transparency, immutability and real-life tracking.

Established in the Kingdom of Lesotho, CannaCor aims to become global leaders in cannabis research, cultivation, processing and distribution, as well as the implementation of blockchain technologies for purposes of cannabis life cycle and supply chain management. They aspire to lead, legitimize and define the future of the industry by building the world’s most trusted blockchain based cannabis company.

This venture includes the establishment of a unique aquaponics cultivation and production facility for medical cannabis in Lesotho to supply the global market. The CannaCor cultivation facility will produce products such as: Tetrahydrocannabinol (THC), Cannabidiol (CBD), Cannabinoids (CBN) and Tetrahydrocannabinol Acid (THCA) in various strengths and combinations.

In addition, the CannaCor team comprises of professionals with a wide range of experience and expertise in blockchain technology, systems development, marketing, finance and project management covering the many areas required for a successful project. You can visit their LinkedIn profiles on website to check the authenticity of each member.

For more information, you can visit these following links:

Website: https://cannacor.io/
Whitepaper: https://cannacor.io/assets/cannacor_whitepaper.pdf
Telegram: https://t.me/cannacor
Facebook: https://www.facebook.com/cannacor/
Twitter: https://twitter.com/canna_cor
Medium: https://medium.com/@CannaCor

*Author's Bitcointalk username: binar234
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