The American CBD industry has seen explosive growth over the past few years. The industry research group Brightfield forecasts more than $23 billion in annual revenue by 2023 (http://nnw.fm/SW6Ug). The U.S. is now the world’s leader in hemp cultivation, extraction, and product development.
That means a lot of companies are offering CBD oil, topicals, and edibles. The question consumers have when they search for a reputable supplier is who can they trust to deliver a quality product? In many cases this trust is directly linked to their livelihoods as hardworking Americans who risk failing a workplace drug test or worse, facing prosecution for using a product marketed as “THC Free.”
Taking the Quality Commitment a Step (or Two) Higher
Most companies who sell a product or services proclaim a commitment to quality, but those are pretty meaningless statements. CBD product developers and sellers are no different.
No Borders Naturals was determined to go beyond the usual marketing promises and clearly demonstrate its products’ quality, potency, efficacy and, most importantly, that THC levels fall below the 0.03% limit established by Federal law in the 2018 Farm Bill. The only way to do this is to send each product to reputable, third-party labs, and share test results with whoever is interested.
No Borders Naturals did exactly that, plus a whole lot more.
After sharing the No Borders Naturals premium line of CBD wellness products with tens of thousands of consumers around the USA, the No Borders teams heard time-and-again that Americans want to be sure no one could interfere with lab reports. So CTO Chris Brown worked to create and deploy a transparent, permanent, and unchangeable certification platform designed to record CBD lab test data on blockchain technology. This created www.CBDLabChain.com, the world’s first CBD Lab Test Blockchain Certification.
Today, consumers can see, for every single No Borders Naturals product, its third-party lab tests results through a blockchain-protected distributed ledger designed, built, and owned by No Borders Labs, a sister company to No Borders Naturals. Both are owned by their parent company, No Borders Inc. (OTC: NBDR), a publicly traded strategic investment company based in Phoenix, Arizona.
Third-party testing centers send test results and reports directly to a blockchain that delivers them to a secure network. From there, they can be accessed for viewing via a QR code printed on the label of each product. No one can “modify” or otherwise tamper with them. “Our customers see Lab Test reports that are as unadulterated as our products; they simply cannot be changed. I am proud to bring CBD Lab Chain to market as a real-world deployment of blockchain technology,” Brown says.
No Borders believes blockchain technology should be (and most likely will be) the standard for ensuring product safety and purity claims, particularly with consumables like CBD products.
Putting Blockchain Technology to Work in Industries Other Than Crypto
Blockchains have been primarily used in cryptocurrency and described as a distributed, decentralized public ledger, to borrow Investopedia’s definition. It works by creating blocks that store information about a person or company that can only be identified through a unique code. (That ensures data privacy during transmission to a network.)
Blocks must be verified for accuracy before they are added to a chain that carries their information to a network. Their content is then copied and made available to people with access to that network. Any personally identifiable information remains coded.
Blockchains provide superior security because they are extremely difficult to hack. Every block created is assigned a randomized “hash code” generated by a complicated math problem. Each time a block is edited, it creates a new block and receives a new hash code. The old block with the original information is edited as well and also receives a new hash code. Blocks themselves are never deleted. Any potential hacker quickly finds himself in an infinite chicken and egg problem.
There is no reason this technology can’t be transferred to other settings, says No Borders CEO Joseph Snyder, to provide highly secure transmissions and deliver transparent, unaltered copies about all kinds of products to consumers. American consumers like, No Borders Naturals customers, deserve no less, he says. His company is already walking the walk as the first national CBD line to use blockchain to add a layer of consumer trust.
What About Industry Engagement?
The third-party labs, which No Borders Naturals uses to test product purity, had no problem recognizing the powerful value that the CBDLabChain Certification provides to their other clients, Snyder says. “In fact, many were fascinated by the idea of using blockchain technology to add a revenue line to their existing business models.”
Everyone involved in a supply chain wants their data to arrive unchanged. Blockchain technology can revolutionize those that carry sensitive data, whether it’s about product safety or personal health information (PHI). Anyone who’s worked in a HIPAA setting is well aware that emails can be hacked, faxes can be left out in the open, and so on.
In an era where trust is harder than ever to earn and data protection is on everyone’s mind, it’s time to consider new applications for super-secure technology like blockchain.
For more information, visit the company’s website at www.NBDR.co
NOTE TO INVESTORS: The latest news and updates relating to NBDR are available in the company’s newsroom at http://nnw.fm/NBDR
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