The Use of Blockchain in the Cannabis World
Blockchain and cannabis have one thing in common: they are both disruptive developments changing how people do business worldwide, particularly in the United States. When it comes to legal cannabis producers, blockchain has the potential to completely transform an industry that has been hampered by a shockingly slow development trajectory, resulting in increased revenues in the future. This isn’t only true for growers; blockchain’s impact on a sector will also affect retailers and producers. But before we look into the impacts, it is imperative to evaluate the cannabis....
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Is it possible to put cannabis on the blockchain? With one company, that’s exactly what’s taking place. Motherboard reports that Medicinal Genomics is creating a registered list of all cannabis genomes to be stored on the bitcoin blockchain. The purpose is to take any confusion out of marijuana purchases; MG wants to make sure every customer receives the strain they’ve set out to purchase, as each type can have varying effects on patients. “The Bitcoin blockchain has been going since 2009, and its security is in its proof of work,” says CSO of MG Kevin McKernan. “If, for any reason, we....
Colorado, a US state known for its liberal regulation of cannabis, is now going to host the Crypto Cannabis Conference on October 24th & 25th, 2015. The organizers expect the attendance from the best minds in the cannabis industry who will discuss the pros and cons of Bitcoin for the cannabis industry. Inviting the best minds in the Bitcoin world, Crypto Cannabis Conference organizers don’t charge any registration fees. People involved in the legal cannabis business have a lot of advantages if they use Bitcoin, and this conference explores those advantages. Similarly, the organizations....
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....
Tuesday saw eight of nine states, where cannabis legislation was on the ballot, approve initiatives for cannabis regulation either medicinally or recreationally. There are numerous blockchain-facing startups and crypto-currencies who stand to benefit from the normalization of marijuana. In the wake of Tuesday’s “green letter day” for cannabis legislation, we put together a list of some of those blockchain companies in the best position to prosper from the so-called “green rush.” Tokken. Tokken founder Lamine Zarrad, a former US government regulator in Colorado, believes the blockchain can....
The Crypto Cannabis Conference is holding its second annual conference in Denver, Colorado — where cannabis is legalized for recreational use. Crypto Cannabis Conference Comes to Colorado. The cannabis industry is growing exponentially in the U.S., and this year many states are on the path to legalize marijuana. With this economy now budding, many....