Blockchain Joins Hands with Cannabis to make Research Project
A blockchain-based data marketplace, ‘Measure Protocol,’ and a cannabis-oriented survey rewards app,’ Broccoli,’ will together establish a research group for cannabis users.
The companies will use this to analyze customers, collect information, and prepare reports dedicated to cannabis use and the industry. While doing so, the parties aim to discuss the profit of cannabis, debunk, or prove myths relating to it and make the collected data available to the public, according to a Nov. 12 press release.
‘Phillip Olla,’ the co-CEO of Audacia Bioscience, the company that stands behind Broccoli, said that blockchain technology would enable the firms to collect data about cannabis use transparently and credibly, which will support cannabis come in the mainstream.
Implementation of Blockchain in the Cannabis industry
Other cannabis industry shareholders have been employing blockchain to various facets of their business. In late Sept., decentralized application-focused blockchain Aeternity disclosed that it might use blockchain to track the supply chain of ‘Montevideo-based medical & recreational cannabis producer Uruguay Can.’
Blockchain tracking startup ‘TruTrace Technologies Inc.’ has associated with Big Four auditing firm ‘Deloitte’ to track cannabis using the technology. The system is set to apply this technology to track the plant from seed to sale to assure that consumers and retailers know the background of the product.
Blockchain Joins Hands with Cannabis to make Research Project Australian firm ‘Security Matters‘ filed a patent application in the U.S. for a blockchain system to securely manage the cannabis supply chain. The proposed method can be used to mark, track, and manage the supply chain for cannabis plants, products, and cannabis-derived ingredients.
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