Blockchain Firm Partners With Cannabis Data App to Create Research Project
A blockchain-based data marketplace, Measure Protocol, and a cannabis-oriented survey rewards app, Broccoli, will jointly establish a research community for cannabis users.

According to a Nov. 12 press release, the companies will use the new community to survey consumers, collect data and make reports dedicated to cannabis use and the industry. In doing so, the parties intend to discuss the benefits of cannabis, debunk or prove myths surrounding it, and make the collected information available to the public.

Phillip Olla, co-CEO of Audacia Bioscience, the company that stands behind Broccoli, said that blockchain technology will enable the firms to collect data about cannabis use in a transparent and credible manner, which will help bring cannabis into the mainstream.

Blockchain implementation in the cannabis industry

Other cannabis industry stakeholders have been applying blockchain to different aspects of their business. In late September, decentralized application-focused blockchain Aeternity revealed that it will use blockchain to track the supply chain of Montevideo-based medical and recreational cannabis producer Uruguay Can.

blockchain-cannabis (2)

Blockchain tracking startup TruTrace Technologies Inc. partnered with Big Four auditing firm Deloitte to track cannabis using blockchain technology. The system is set to employ the technology to track the plant from seed to sale, in order to guarantee that customers and retailers know the history of the product.

Also, Australian Securities Exchange-listed firm Security Matters filed a patent application in the United States for a blockchain system to securely manage the cannabis supply chain. The proposed system could be applied to mark, track and manage the supply chain for cannabis plants, products and cannabis-derived ingredients.

For more information, please visit us at: https://bestay.io/

Any information or inquiries, please contact us via email [email protected]

Related Reads

Sterling lower as dollar gains, UK awaits Brexit vote
Sterling fell on Tuesday as the dollar rose, with investors watching British lawmakers’ return to parliament after the Christmas recess in preparation to vote on …
Elis Jan 16, 2020
Thai Bank Launches App For Instant Cross-Border Payments Powered By Ripple
According to a blog post from Ripple, the app — known as SCB Easy —  was demoed in December during Ripple’s annual customer event, Swell. The demo …
Elis Jan 09, 2020
What Role Will Bitcoin Play in the "Retail Apocalypse"?
Bricks and mortar shops began to struggle as soon as ecommerce started to gain traction. Today, online shopping has become the norm for many consumers. …
Elis Jan 06, 2020