New Partnership Brings Blockchain To Cannabis Industry

2019-4-27 00:03

Blockchains have strong potential for both growing and established industries, such as supply chains. Now, Mile High Labs, and Chain.io have collaborated to bring blockchain to supply chains in the marijuana industry.

Supply chain transparency provides yet another example of blockchain applications in the cannabis industry alongside financial services, which are currently difficult to come by for cannabis enterprises. According to a joint (no pun intended) press release, the budding cannabis industry leaves many consumers for want of information on how their products were grown, transported and handled.

In the release, Jason Roth, CEO of Mile High Labs, said:

“Mile High Labs is providing concrete, factual answers to some of the most prevalent questions that CBD consumers have: ‘Where does my CBD come from? What’s in it?’ In an ever-evolving regulatory landscape, our advanced supply chain protects the integrity of our brand and products.” 

Chain.io’s collaboration with Mile High Labs aims to rectify that by applying blockchains to create a secure, data and proof-driven product supply chain for the cannabis industry. This transparency, Mile High Labs believes, is the key to increasing demand for pot products on the consumer’s end while putting blockchain technology to good use.

Regulatory compliance is another way in which DLT can shine, automating product I.D. checks. Roth added:

“The rising popularity of CBD has been seen by some as an opportunity to capitalize on a lack of knowledge and regulations. As a result, our industry is at risk of bad actors. These major developments in the Mile High Labs Supply Chain represent our steadfast commitment not only to safety and transparency but to the technological and regulatory advancement of the entire industry.”

Blockchain and other emerging markets like the cannabis industry seem to offer each other opportunities that allow both to grow side by side. Whereas DLT’s offer marijuana businesses decentralized and intelligent financial services and supply chains, the cannabis industry gives blockchain another chance to prove its transformative power in many industries.

 

 

The post New Partnership Brings Blockchain To Cannabis Industry appeared first on Crypto Briefing.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Vice Industry Token (VIT) на Currencies.ru

$ 9.59E-5 (+0.36%)
Объем 24H $8
Изменеия 24h: 0.01 %, 7d: -71.49 %
Cегодня L: $9.59E-5 - H: $9.59E-5
Капитализация $276.56k Rank 99999
Цена в час новости $ 0.0005291 (-81.87%)

blockchain industry supply chain chains partnership new

blockchain industry → Результатов: 126


Фото:

Russia’s space agency deploys blockchain for intellect rights protection

Russia’s Roscosmos state corporation is implementing a platform based on blockchain technology to protect the intellectual property of organizations in the rocket and space industry. The corporation’s website stated that it started using the feature on the Waves Enterprise blockchain to identify violations of intellectual property rights of firms and institutions within the industry.

2021-4-27 15:56


Фото:

German Clothing Manufacturer Taps IBM Blockchain for Supply Chain Traceability

Global tech giant IBM has partnered with a German clothing manufacturing brand to employ blockchain technology for transparency and traceability in the fashion industry. Blockchain for Traceability in the Fashion Industry According to a press release on November 16, 2020, blockchain technology is being introduced to the fashion industry, through a collaboration between KAYA&KATO andRead MoreRead More.

2020-11-18 21:00


Blockchain as a Problem Solver for the Industry of Gambling

Gambling has become the second industry after the financial one to recognize the significance of blockchain technology and begin implementing it on a substantial scale. The main reason behind this increasing fascination is that blockchain shows the capability to resolve the issues that have been plaguing the betting industry for ages: the lack of transparency, […]The post Blockchain as a Problem Solver for the Industry of Gambling appeared first on CaptainAltcoin.

2019-12-27 04:10


Blockchain in media & entertainment: threat or opportunity at Cannes Film Festival

On 17 May, in the course of Cannes Film Festival, blockchain industry experts, leading investors and projects will gather to popularise the idea of blockchain for the media and entertainment industry top executives and show live cases with the focus on how blockchain can add value and solve painful industry inefficiencies. The reception “Blockchain in […]

2019-5-10 14:36


Фото:

IBM Study: 62% of Automotive Execs Believe Blockchain Will Be a Disruptive Force in the Auto Industry

Though blockchain use is still in its infancy in the automotive industry, a handful of companies are pioneering its adoption, believing that the technology will radically transform the sector. According to a new study by IBM, 62% of automotive executives are convinced that blockchain will be a disruptive force in the auto industry by 2021, […] The post IBM Study: 62% of Automotive Execs Believe Blockchain Will Be a Disruptive Force in the Auto Industry appeared first on Coinjournal.

2018-12-13 13:09


Ripple, NEM, Cardano, Fetch.AI, Found Blockchain Industry Lobby in Europe

Four leading global blockchain companies have announced the founding of what they call the first credible attempt to create a unified voice for the blockchain industry at European level. Blockchain for Europe intends to address the fragmented policy debate over the issue in order to lobby in favor of crypto friendly regulation in the European Union.

2018-12-6 14:00


Фото:

Autodesk CEO Believes Blockchain Can Reduce Corruption in the Construction Industry

Andrew Anagnost, Autodesk’s CEO is a big believer in blockchain technology as he believes it can help boost transparency and trust between all members in the construction industry. According to the Financial Review’s article published on November 19, 2018, Anagnost mentioned that increased confidence and accountability could eventually reduce the corruption present in the industry today.

2018-11-20 22:00


Фото:

The Blockchain Industry Could Reach $7 Billion, Says Bank of America

Although the blockchain sector is still an emerging industry, the Bank of America estimated that the addressable market for blockchain will soon reach $7 billion. According to CNBC, while blockchain technology is not standard in a business-to-consumer market, it could help improve existing services in business-to-business markets such as the Software-as-a-Service (SaaS) industry, the real estate sector, the supply chain,.

2018-10-5 03:00