Medical cannabis companies are rushing to sign up for the world’s first blockchain-secured platform, StrainSecure. It was developed by TruTrace and provides testing, DNA-based validation and product guarantees for patients and customers. The stable crypto-secure platform enables cannabis producers to foster enhanced trust among customers in an industry famous for unreliable supply chains.
TruTrace Technologies Inc. has developed a new blockchain platform for cannabis that aims to track the intellectual property of cannabis through blockchain technology.
The objective of the StrainSecure platform is to provide security to the consumer by providing a tracking and tracing system for purchased products that includes mandatory testing, DNA-based product validation, and product warranties.
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Blockchain platform for cannabis addresses supply chain issues
Many have already accepted that their citizens need legal access to the use of cannabis for medical purposes. However, only a few countries allow cannabis use for recreation.
Canada, at the forefront and open to new permissive trends, has joined the shortlist of countries that allow legal cannabis. The government has even set up shops where people can buy cannabis.
TruTrace Technologies Inc, a Vancouver-based firm, has developed the first blockchain platform for cannabis to track the intellectual property of the product.
This will open up mandatory testing, DNA-based product validation and product warranties to medical cannabis customers. In doing so, TruTrace Technologies Inc. seeks to address the supply chains of the cannabis industry that have been corrupted in recent years.
“It’s a combination of science, business software, and blockchain technology. By focusing on granular genetic, chemical and contaminant data, as well as movement and motion information, and then merging them into a blockchain, we can provide real-time data on every product that is purchased,” said Roberto Galarza, CEO of the company.
Using StrainSecure within the cannabis industry
Galarza talked about how the company’s technology could change the paradigms for the industry as it will provide quality over the product in real-time. This is based on tracking cannabis from seed to sale.
TruTrace Technologies Inc. has extensive experience in business software and in supply chain and logistics. In addition, Galarza has a team that understands the issues that drive product movement around the world.
Knotting together this passion brings the blockchain platform for cannabis into their lives. With this, comes the method of intellectual property protection thus creating a permanent lineage for cannabis strains.
Growing the StrainSecure platform
“We intend to be a key part of the growth of the medical cannabis industry worldwide, as well as playing an important role in the expansion of the recreational market,” said Galarza. “The fact is that transparency and evidence will never be avoided in this industry and if we can be a key part of that process and the market continues to scale as planned, we will be a unicorn.”
“The company’s biggest turning point has been our relationship with Shoppers Drug Mart and Loblaws. I’m not sure everyone understands how much it means to have a company of your size, history, and reputation in the medical cannabis industry. If we can help make cannabis a regular part of medical treatment, it could exponentially impact the industry’s track record,” he added.
The blockchain platform for cannabis tests market waters
The company, which is focused on the Canadian and U.S. markets, brought its StrainSecure blockchain platform for cannabis to a cannabis water company by placing QR codes on their bottles that customers can now scan for quick test results.
“Earlier this year we began working with NXT Water, outside of Los Angeles, on the launch of their AKESO hemp-derived functional water, which is found in selected stores and health clubs throughout Southern California,” said the entrepreneur. “This relationship was born out of a blind test they conducted on several leading CBD water products in the U.S. market. They found that most of the products were well below the advertised amount of CBD, and some had none.”
Galarza, a man with technological credentials, has varied experience. He has been a lawyer, a film producer, and an advertising executive, among other assignments. At the moment, with blockchain, he is determined to track medical cannabis to revolutionize the industry and make it safer.
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