- Current cannabis testing system lacks integrity
- BLOCKStrain platform can be trusted for safety and reliability
- Planned product integration and strategic partnership with bioceutical company
The tide of cannabis legalization washing over America is, as might be expected, posing challenges in a number of areas. One is protecting the public, determining how to best ensure that marijuana in the marketplace is safe to consume. The other is producer protection; how can breeders and growers stop their strains from being ‘faked’?
The obvious answer is testing, but the testing system that has germinated as cannabis cultivation spreads may not be up to the task. Reports have surfaced of poor controls that leave consumers and producers alike exposed to a variety of risks. Now seems an opportune time to utilize the blockchain platform developed by BLOCKStrain Technology Corp. (TSX.V: DNAX).
Producers will be happy to note that the technology registers and tracks cannabis IP from genome to sale. Consumers will be equally delighted to discover that the system can accurately track all aspects of quality control. BLOCKStrain is already making the platform available to streamline the cannabis supply chain. It recently signed a letter of intent to integrate its proprietary technology into the product and services ecosystem of Abattis Bioceuticals Corp., and the platform has been adopted by leading Canadian cannabis producer WeedMD.
An alarming report in Forbes details the sorry state of the cannabis testing services industry, where informational asymmetry appears to be the order of the day (http://nnw.fm/8pqQD). Some labs are good, but some labs are not. The question is, “How do cannabis producers and retailers tell the difference?”
For example, growers and marketers rely on these labs to determine the levels of THC their strains have, as well as the presence or not of toxic chemicals, molds and other unwelcome contaminants, and the labs are expected to abide by state-instituted standards in their testing procedures.
However, since the facilities are neither graded nor regularly inspected, it’s difficult to say to what extent compliance is observed. As a result, the industry is plagued by lax practices, with some labs offering to produce “better results.” Some others have even earned the reputation of being “friendly,” which apparently means that their rejection rates are low. In addition, there is suspicion that some producers submit high THC samples for testing and then use the grading to wholesale their low THC output. In light of all these shenanigans, there are growing calls for a tighter supply chain.
The BLOCKStrain platform aims to provide the integrity that the current system so sorely lacks. It goes further by ensuring product authenticity and IP protection, with a genetics verification process. Producers and marketers can take advantage of this novel methodology by submitting the lab results of tested samples to BLOCKStrain. Each time an item is tested and verified by the network, a registration affidavit is auto-generated and given a unique “BLOCKStrain Address,” along with a traceable QR Code. Producers, patients and consumers are able to not only verify the test but rate the product, write reviews and share opinions. These details are stored within BLOCKStrain and, like the test results, cannot be tampered with or modified. Both verification and certification are earned by all parties for their participation. Moreover, pre-existing data of genetic cannabis strains can be submitted to the BLOCKStrain verification administrators, and those results will be added to the user’s blockchain account.
The planned collaboration with Abattis Bioceuticals Corp. gives an example of BLOCKStrain’s capabilities (http://nnw.fm/C7HqZ). The platform is expected to reduce the workload and costs associated with product and genetic testing by storing all testing data in its blockchain-protected database. The platform will also provide full transparency of testing results for producers, government regulators and consumers.
For more information, visit the company’s website at www.BLOCKStrain.io
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com