The Cannabinoid Association of the Netherlands has unveiled a blockchain-based CBD tracker for customers to trace a product's journey from seed-to-sale.
Listen to article Cannabidiol users concerned about the quality of their product in the EU can now trace the plant's journey from when it was first planted in the fields to when it was sold in retail stores.
An Aug. 6 statement from the Cannabinoid Association of the Netherlands revealed it would make a blockchain tool - CanCheck - free for consumers to track cannabidiol products in the EU online.
HempFlax, one of the group's founding members, and Europe's largest independent grower and processor of industrial hemp, will be one of the first to offer traceable CAN products.
CEO Mark Reinders said full traceability would help protect consumers as they could now "Trace the production of hemp-derived cannabidiol products from shelf to seed."
StrainSecure, a similar blockchain-based cannabis tracker based in North America, announced in January it would be providing DNA-based validation of medical cannabis products.
Cannabis is legal in Canada for both recreational and medicinal purposes, but legality in the United States varies state-to-state.
Uruguay, the first country in the world to completely legalize cannabis production and sale, was also one of the first countries with a supply chain tracker using blockchain Aeternity.
Cannabis and cryptoIn September, Berkeley City Council member Ben Bartlett used Bitcoin Cash and the stablecoin Universal Dollar to purchase cannabis at a local dispensary.
Cannabis is now legal across California, with many dispensaries now accepting Bitcoin as payment.
Europe's New 'Seed-to-Shelf' Cannabidiol Blockchain Tracking Tool
Published on Aug 7, 2020
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.