Medical CannabisMedical Technology

The blockchain-based platform from Cannacor will put an end to the Thriving Black Market for Cannabis

The pre-ICO sale from Cannacor is ongoing from November 11, 2019, through January 31, 2020.  The token price is currently at $0.06.  Cannacor is where blockchain technology combines seamlessly with Cannabis cultivation.

Cannacor is looking to digitalize the production of Cannabis completely. The company is a private limited company that is licensed as a prohibited drug operator.  The company has 50 000m2 of acquired land for indoor cultivation of Cannabis.  The cultivation is done in compliance with the regulations of Canada, Europe, and several other global markets.

Cannacor is looking to integrate their management systems with blockchain technologies to ensure the immutability, transparency, and real-time tracking of the cultivation process. The major challenge faced by this industry is that sometimes unknown parties are in charge of the production phase.  This endangers consumer health.  This is also the reason for a thriving black market.  With the blockchain-based platform, Cannacor will put an end to the flourishing black market for Cannabis.

Blockchain technology is all set to improve trust in the Cannabis industry.  Tracking from seed to consumption is now a possibility with the blockchain technology. Consumers now know from where the seeds were acquired, grown, packaged, and shipped.

The cannabis industry currently does not have a centralized database for strains.  The product testing is done by Licensed Producers (LPs); however, consumers and suppliers do not have access to data, and if they have, they do not have access to the complete data.

The blockchain industry is in its earlier stages; however, the ability to track data of products in the supply chain is improving the overall process.  The ability to track the path of products in the supply chain is a powerful phenomenon.  Cannabis suppliers will be able to source better strains.  They will get a clear insight into why some products are successful and why some are not.

The term Medical Cannabis is used to denote anything which is separated from dried Cannabis, whether from Cannabis flowers, leaves, or extracts from other parts of the plants.  The derivatives of Cannabis are increasingly becoming important in pain management.

Cannabis from Cannabis plants works better than the cannabinoids, which are isolated from the active substance.  The Cannabis industry is all set to grow for different reasons.  The legality of the use, of course, varies from one country to another.  Legal clauses are applicable regarding how it can be cultivated, possessed, distributed, and consumed for medical requirements. Not all countries have legalized the therapeutic use of Cannabis; some of them permit the usage of cannabis-derived pharmaceutical drugs.



The Medical Progress

The Medical Progress is here to provide news for the medical industry on a daily basis which are mainly on the medical cannabis and it’s legalisation.

Related Articles