Blockchain and transparency: a new pillar of the CBD industry
Quality Comes Above All – The legitimacy of cannabis-related products and its flourishing trade is still in its infancy. In Uruguay, products based on CBD (a molecule derived from cannabis) will thus be able to benefit from blockchain logistics monitoring to ensure their quality.
How to ensure that the products are harmless?
The cannabidiol , or CBD , is one of the molecules belonging to the family of cannabinoids. It is present in hemp plants (where cannabis resin is obtained from).
Unlike THC, classified as illegal substance in many countries, the CBD is increasingly recognized for its virtues medicinal , against the anxiety and pain , in a role similar to that of a sedative.
The assumed problem is to have products rich in Cryptosoft and poor in THC, to avoid the psychotropic effects of the latter. This is where blockchain monitoring can come in , to ensure the quality of a product , such as CBD oil, for example.
Tracking based on the Aeternity (AE) blockchain
Thus, as reported by the DailyHodl media , this summer 2020 saw the launch of the first logistical monitoring of cannabis products via blockchain .
It is the company UruguayCan , specialized in cannabis for medical use, which launched an application for tracking from the seed to the end consumer. For this, it relied on the Aeternity (AE) blockchain :
“Created by the development group Inmind, the platform allows full traceability of medical cannabis (…). This effort aims to raise the safety standards for products to an international quality level. “
The app will track all aspects of the life cycle of cannabis plants. From pod size to temperature, humidity or greenhouse location. Just like extraction , packaging and transport .
The transparency of blockchains and the ability to obtain this comprehensive information about cannabis products is vital for pharmaceutical companies and other medical-oriented entities seeking to improve the image of these products.
According to BusinessBlockchainHQ , in 2019, the cannabis industry would have achieved a turnover of 52 billion dollars , for the United States of America alone. The sector also promises significant growth rates in the years to come.
Behind the negative image of THC hides CBD, a promising molecule, whose therapeutic virtues are still very little understood. Blockchain Distributed Ledger Technology (DLT) seems to be the best way to bring legitimacy to CBD products, ensuring quality monitoring.