By / November 22, 2019

More companies using blockchain for cannabis research

An alliance between a data and survey company will help promote blockchain for cannabis research.

The collection of information will help review the various benefits of cannabis, with the aim of discrediting or rectifying the myths surrounding this substance.

According to a statement released on Nov. 12, both companies, Measure Protocol and Broccoli, plan to use this pact to survey consumers, collect information and with it, make reports dedicated to cannabis consumption and the industry.

Once the information has been collected, the companies plan to review the various benefits of cannabis, with the aim of discrediting or rectifying the myths surrounding this substance and then provide all the information gathered to the public.

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Cannabis research companies will provide an online research community

Measure Protocol, the people-based ethical data marketplace powered by blockchain, has partnered with Broccoli to create an online research community for cannabis users.

Broccoli, a brand of Audacia Bioscience, is trying to bridge the information gap surrounding cannabis. The company will use the new community to connect with consumers, gather information and share valuable data regarding the fast-growing cannabis industry.

The company seeks to unlock and communicate the benefits of cannabis, in a safe and effective environment for all those interested in the subject.

Man explaining how blockchain for cannabis research will help.
Blockchain technology has the ability to create an online community of cannabis users. (Source)

Phillip Olla, the co-executive director of Audacia Bioscience, the company that developed the Broccoli brand, said that blockchain technology will allow consortia to collect information about cannabis use in a transparent and credible way.

“Measure allows us to do this by providing a fully developed and blockchain-enabled ecosystem so that we can grow faster, more efficiently and with confidence. Our new online community is based on transparency, inclusiveness and credibility, all of which is incredibly important to our audience,” says the co-executive director of Audacia.

How using blockchain for cannabis research helps the industry

Other companies that are also interested in working with the cannabis-related industry have used blockchain to apply it in different areas of their business.

An example of this is the decentralized application Aeternity. On Sept. 25 the company revealed that it will use the blockchain to trace the supply of Uruguay Can, a producer of medicinal and recreational cannabis, based in Montevideo.

The company wants to be the first to offer an enterprise-level solution in partnership with leading technology suppliers and cannabis producers, processors and distributors.

Eternity technology is ideal for tracking the entire cannabis production process, from seed to the end product, along the entire supply chain, ensuring consumer safety and complying with regulations.

Blockchain traces cannabis from seed to sale

Similarly, on Sept. 4, the blockchain tracking company TruTrace Technologies Inc. announced its partnership with the audit firm, Deloitte, in order to track cannabis using blockchain technology.

TruTrace said it would launch its StrainSecure product, a system that uses the blockchain to trace cannabis from seed to sale, ensuring that customers and retailers know where and with whom the product they receive has been.

The partnership with Deloitte will aim to help introduce this product to a broader base of potential investors. Deloitte serves 80% of Fortune Global 500 companies through its network of member companies around the world.

Blockchain for cannabis research can help companies keep on top of their supply.
Blockchain technology is applied in the cannabis business to optimize the origin and tracking of its products. (Source)

Keeping track of the cultivation stage with blockchain

In addition, Security Matters, which is listed on the Australian Stock Exchange, filed a patent application in the United States on Sept. 3 for a blockchain system to safely manage the cannabis supply chain.

The proposed system could be used to mark, trace and manage the supply chain of plants, products and ingredients derived from cannabis.

Security Matters noted that the scope of the patent covers the use of its patented chemical solution to “mark” any cannabis plant regardless of its stage of cultivation, even up to the pre-sowing seed.


(Featured image by AaronJOlson via Pixabay)

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