- Major features finalized under aggressive deadline, with product launch mere weeks away
- Proprietary technology suite tracks cannabis end-to-end with blockchain-protected solution for growers, breeders
- Current cannabis testing system vulnerable, leaving consumers and producers exposed to risk
- Strategic partnership announced to implement BLOCKStrain platform’s benefits into regulatory framework for medical and adult-use cannabis in Canada
Canada’s inexorable march toward full legalization of cannabis for the adult user in both the medical and recreational markets is much anticipated by the public and Vancouver, Canada-based BLOCKStrain Technology Corp. (TSX.V: DNAX). Major features of BLOCKStrain’s proprietary, end-to-end cannabis tracking platform are rapidly being finalized by the company’s development team, Chief Technology Officer Tommy Stephenson said in a news release (http://nnw.fm/Ud566). BLOCKStrain’s product team has also assembled a concise on-boarding package and documentation to help jumpstart Licensed Producers (LPs) and testing partners looking to implement BLOCKStrain’s disruptive seed-to-sale platform.
“Getting the on-boarding process protocols completed was mission critical,” Stephenson said in a news release. “This milestone opens the floodgates for the whole ecosystem we have designed. BLOCKStrain’s partners – LPs, testing facilities, labs – can now quickly and efficiently link into our integrated platform without disturbing their core business processes.”
BLOCKStrain’s proprietary enterprise software platform verifies and tracks cannabis products through an intelligent, blockchain-protected database of strain genetics. By registering the genetic identity of a batch of legal cannabis via a DNA Passport™, BLOCKStrain automates the task of ‘gene-to-sale’ tracking and showcases where each verified product was grown, manufactured, shipped and sold. Consumers, producers and regulators can rest assured that cannabis tracked through BLOCKStrain’s system is verified from genome to sale, which means that black market cannabis is unable to enter the blockchain-protected ecosystem, a recent article states (http://nnw.fm/G91Sn).
Major features recently finalized by BLOCKStrain’s development team include the “Network & Collaboration” component, which allows all BLOCKStrain partners throughout the chain of custody to log into one central system. Once logged in, all team members can share and collaborate while securing information with different access rights and permission.
Another technical milestone is the “Strain Verification Booking” feature, which allows cultivators and LPs to use an intuitive process for submitting testing types such as genetic, microbiological and chemistry testing and syncing them with required testing protocols. This feature promises to lift a heavy burden for craft cannabis growers who are tasked with leaping over the same regulatory hurdles as the major players.
BLOCKStrain has also entered into a memorandum of understanding with Spire Secure Logistics Inc. (“Spire”), a wholly-owned subsidiary of Friday Night Inc. (CSE: TGIF), for Spire to introduce and implement BLOCKStrain’s proprietary platform to governments throughout Canada. BLOCKStrain and Spire will collaborate on the design and implementation of security programs and infrastructure for the legal distribution and sale of cannabis, a news release states (http://nnw.fm/pXs3V).
“Spire is amongst the global leaders in providing regulatory and security programming for the cannabis industry, and BLOCKStrain provides an automated, intelligent and secure software solution that verifies and tracks cannabis products through an immutable record of legal genetics,” BLOCKStrain CEO Robert Galarza added in a news release. “Together, we are determined to provide a world-class solution in cannabis logistics security to our customers.”
The global cannabis market is expected to reach $146.4 billion by the end of 2025, according to a new report by Grand View Research (http://nnw.fm/ZQUl2). This growth potential is tied to a booming market that includes vertical avenues in the medical field amid a growing body of research into new cannabis strains targeting medicinal applications. The Canadian government’s self-imposed October 17, 2018, deadline (http://nnw.fm/aXJd4) to allow recreational and medical cannabis for adult users nationwide through retail and online sales has those in the cannabis space moving quickly to secure their places in history.
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