- An intelligent authentic platform centered on transparency and intellectual property
- WeedMD one of the first federally-licensed producers to integrate blockchain technology
- Provides a verifiable chain of evidence from genome-to-sale
BLOCKStrain Technology Corp. (TSX.V: DNAX), a full-service software company headquartered in Vancouver, British Columbia, Canada, has developed the first integrated blockchain platform that registers and tracks cannabis intellectual property (“IP”) from genome to sale. The company is dedicated to making the platform safe, comfortable and financially rewarding for breeders and growers of all sizes. The platform protects the intellectual property of producers in the cannabis industry while giving customers full transparency. By combining traditional cannabis culture with modern crypto-technology, the company delivers an intelligent authentic platform that’s powered by the people. It is establishing a single source of truth for cannabis strains and their ownership that is helping fuel technology and innovation for the cannabis industry as a whole.
On March 19, 2018, WeedMD Inc., a company focused on providing medical cannabis to the seniors’ markets in Canada, announced a strategic investment in BLOCKStrain. “WeedMD has amongst the most robust and expansive library of genetics in the industry. After conducting an extensive review of the blockchain technologies being proposed for and utilized in the cannabis sector, we believe that BLOCKStrain is best positioned to protect our intellectual property by further validating and securing our best-in-class genetics,” Derek Pedro, Design, Cultivation and Production Partner at WeedMD, stated in a news release. “Our strategic partnership with BLOCKStrain will position and benefit WeedMD as we obtain and develop new strains to expand our wholesale genetics business and for the benefit of our medical patients.”
With the use of BLOCKStrain, the grower can defend intellectual property rights with an authentic, verifiable chain of evidence embedded in the blockchain from genome-to-sale. Consumers and regulators can leverage the technology to identify where the product was grown and sold, as well as if it meets quality control standards. The platform verifies and tracks critical steps as the cannabis moves through the supply chain, including pesticide use, quality and potency testing, transportation data and additional regulatory information. Both growers and consumers can rest at ease knowing that the origination, care and delivery of the product is held to the highest standards.
For more information, visit the company’s website at www.BLOCKStrain.io
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