Medical Technology

Tracking the Cannabis using Blockchain Technology will make things Hard for Bad Players

Chinese investors are not in any way new to speculative trading.  They have invested in stocks that were related to the next generation of industrial Cannabis.

Blockchain as strange it might appear sometimes, it is of immense help when it comes to streamlining the Cannabis industry. Recreational and medical Cannabis producers are considered to benefit from the “supply chain management platform,” which is blockchain-based, from Aeternity.

This blockchain tracking tool will facilitate “the registration and tracking of cannabis strains from the seed to the final product… which ensures consumer safety while complying with regulations.”  Tracking the Cannabis from seed through the market will make it hard for the bad players in the market to insert bad products in the supply chain.

It is also going to be very difficult for anyone to interfere with the decentralized ledger.  The capacity to trace the source of the Cannabis is highly beneficial for the pharmaceutical industry.  Eventually, consumers will feel very secure about the product they are trading.

In the United States, several states make it necessary for Cannabis companies to track the progress of the Cannabis through the supply chain.  This they are doing to prevent the entry of the product into the underground market.

Legal Cannabis is too expensive, and therefore there is a tendency towards dependence on the black market.  Several people interrogate on whether this is required for the Cannabis market. Mainly this question is prevalent in Uruguay. However, being the first country in the world to have legalized Cannabis from 2013, it is necessary.

President Xi recently triggered a blockchain Frenzy.  Following this, the Chinese state media warned investors that they need to be avoiding speculative behavior.

Regardless, the president set the stocks surging.   The media reportedly published, “The future is here for blockchain, but we need to stay rational.”

The frenzy set by the president, however, calmed down on Tuesday.  The Shenzhen Stock Exchange Information Technology Index closed 2.8% lower, which is the most significant drop in over a month.

The blockchain regulations need a lot of improvement, and it is still in its infancy.  There is a lot of difference between technological innovations in the blockchain technology versus speculative trading in virtual currencies.

Companies are to focus on their core business, and they are not supposed to jump into the blockchain bandwagon all of a sudden.  Further clarity provides that the support for the blockchain sector is not an approval for speculative trading.

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Sally Anderson

Sally is a Masters in Business Administration by education. After completing her post-graduation, Sally jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor.
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