Bitcoin Blockchain Attracts Weed Growers; Register Strain Origins
The Bitcoin Blockchain is by far the most secure and tested distributed network in the fields of cryptography and digital currencies, mostly due to its prioritization of security over flexibility and functionality. Weed growers have begun to take advantage of Bitcoin’s advanced security measures to create an unalterable repository of cannabis genomes. Over the past few years, the growth of the cannabis industry has rapidly increased as an increasing number of states and countries have begun to legalize the usage of medicinal and recreational marijuana. As such, more cannabis brokers,....
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Medicinal Genomics, which registers marijuana strains on the blockchain, has set off a race among growers to sequence and register their strains, according to Motherboard. Medicinal Genomics’ goal is to standardize strain nomenclature so that customers can know what they’re getting when they buy medical marijuana, while also defending the intellectual property rights of those who breed new cannabis strains. In addition to testing plants to check for microbial contamination and determine cannabinoid content to help cultivators meet state regulations, Medicinal Genomics also provides growers....
With marijuana legalized in most of the US states, weed farmers are getting their strains tested with Medicinal Genomics and getting the results added to a blockchain registry. The use of blockchain technology in intellectual property rights management is a well-known application. There are plenty of startups and established companies working on creating platforms for patents and copyrights management using distributed ledger technology. While the cryptocurrency platforms anticipated the music and film industry to be their leading customer, marijuana growers in the United States have....
A molecular information company called Medicinal Genomics (MCG) has partnered with 12 cannabis processors and cultivators to develop genomics-based safety and quality standards, and they are using the bitcoin blockchain to track DNA sequencing cannabis strains. Inconsistent Strains Pose Challenge. The lack of consistent cannabis strains from the same grower can pose medical challenges for patients since even slight changes in a plant’s genetics can impact the strain’s effectiveness. Many patients require a specific cannabis strain for effective treatment. When plant genetics vary, patients....
Wheat growing in Australia is a problem that costs hundreds of millions of dollars each year for growers. To reduce the number of insolvencies or problems with payments that growers often face, one company is attempting to solve this issue with the blockchain. Australian-based AgriDigital, the integrated, cloud-based platform that seamlessly manages contracts, deliveries, invoices, payments, and inventory – which is led by Australian startup Full Profile – concluded its pilot where it was connected to a private Ethereum blockchain computer network earlier this month. According to the....
A dozen medicinal cannabis cultivators and processors have partnered with Medicinal Genomics to record and track the genetics of cannabis strains on the Bitcoin blockchain to ensure product consistency and quality. Cannabis Strains on the Bitcoin Blockchain. Medicinal Genomics (MGC) is no stranger to Bitcoin. They have logged thousand of cannabis strains....