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How Blockchain Technology can Improve Cannabis Porduction

With the Medicinal Cannabis industry reaching unseen heights, many countries are moving towards a more flexible approach to the regulation of the industry. CannaCor is jumping ahead by offering a business structure capable of providing both, customers and regulators, of what they desperately need: a trustworthy company capable of providing real-time information in regards to the cultivation, processing, and shipping of their product.

With CannaCor, consumers won’t need to worry about the origin of their product; and regulators can rest at ease knowing that medicinal cannabis is being carefully processed, in compliance with health regulations necessary to provide a safe product.

Learn more about this innovating company here, and take on the unique opportunity of being part of this thriving industry.

Before explaining how this technology could improve the existant medical cannabis industry, it is important to know what blockchain technology is. Blockchain technology can be defined as a list of records, named blocks, that are linked with each other using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data that cannot be altered. This open distributed ledger can record transactions between two parties efficiently and in a verifiable and permanent way.

CannaCor is a company looking to develop a fully functional blockchain-based platform for the optimization of the cultivation and commercialization process of medical cannabis is CannnaCor, a company licensed as a prohibited drug operator. With over 50 000m2 of acquired land in Berea, Lesotho, the company will dedicate the land to the greenhouse or indoor cultivation of Cannabis. This company aims to become one of the top players in the industry, currently licensed and compliant with regulations to provide services in Canada, Europe and other global markets from this facility.

By introducing blockchain technology to the equation, CannaCor aims to reduce costs by digitalizing the supply chain process, offering real-time product trading information in a secure wat. The process will also eliminate all intermediaries, therefore, reducing the risk of fraud and duplicity of products while also enhancing accurate record-keeping. Blockchain-based supply chain management provides tracking and record-keeping in real-time through embedded sensors and RFID tags. Parties interested will be able to easily retrieve the product history and trace it back from its origin to the present situation at any point in time. Furthermore, such accuracy in provenance tracking can be utilized to detect and prevent fraud even in complex supply chains.

Find out more: https://cannacor.io/

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CannaCor: Where Cannabis Cultivation and Blockchain Technology Combine Seamlessly

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