By George Ward
Blockchain technology continues to gain traction among traditional businesses as more enterprises seek to use it to ensure efficiency in their daily operations. Accordingly, a cannabis producer in California is the latest to turn to blockchain to help verify the authenticity of its products.
Blockchain In Cannabis
According to reports, a cannabis producer, Mendocino Clone Company, is set to harness blockchain and smart contracts to track its medicinal plants. The cannabis firm was recently established in a partnership on January 13 between the EMTRI project and Global Compliance Applications.
Hence, Mendocino Clone Company will utilize the project’s blockchain infrastructures to verify and certify all its baby plants and issue a batch certificate for its medicinal plants. Cannabis producers specialize in plant genetics, clone productions, and baby plants and seeds developments for wholesale distribution in the market.
With the latest move, the cannabis nursery can document the early stages of a cannabis plant’s development to become a complete plant for consumers’ use based on the measurements of the flower’s gram weight. Furthermore, the batch certification will be self-generated on smart contracts for each clone and their batches.
In addition, smart contracts also provide each young plant with a unique identity block that is specially created by the nursery connected to an Ethereum-based blockchain protocol. According to the project’s statement, clients include commercial farms and retail outlets that can use the system to verify the genuineness of their clones and their genetic components.
Meanwhile, the statement also noted that the first phase of batch certification for clones would begin in the first week of February 2023. In addition, approved cultivators who acquired the Mendocino clones will be eligible to access EMTRI token rewards and better rates for participating in the cannabis blockchain project.
The EMT platform was launched in November 2022 to reward project participants, with holders of the tokens allowed to use them for transactions on Uniswap for USDC stablecoins or staked for more yields. However, no centralized exchange data platform has listed the EMT token yet.
The Growing Blockchain Use Cases
Real-world applications of blockchain technology are not limited to the crypto industry alone, as several sectors have embraced the technology in recent years. Blockchain technology application has been widespread in healthcare, logistics, financial institutions, and many others.
Several factors contributed to the rising use of blockchain, no matter the sectors. Some reasons are that blockchain technology is decentralized, increases operational efficiency, and is transparent.
More importantly, blockchain technology allows users to take control of their assets and other critical data without relying on third-party solution providers. As technology evolves, firms across the globe are working on exploring the best way to implement it for their operations using different applications.