Following an official partnership with Real Items, c, a company that sells authentic Cannabidiol (CBD) products, can now verify its products on the VeChain blockchain.
This has been seen as another means for VeChain, the leading enterprise blockchain platform, to showcase its functionalities in the enterprise space.
Why Livecanna Partners With Real Item To Leverage VeChain Blockchain?
There have been rising issues regarding trust in the Cannabidiol (CBD) industry, which prompted Livecanna to choose Real Items as a means to leverage VeChain functionalities to have their products verified, Matt Flynn and Daniel Borovik, founders of Livecanna revealed.
According to the report published on 5th March 2021, the company partnered with Real Items to focus on traceability in order to mitigate the counterfeiting issue that has vastly plagued the Cannabidiol (CBD) industry.
“There is a huge problem with CBD purity and potency. I’m sure that this technology is going to make it more transparent for the consumer.”
Highlighting the reason why the company Livecanna was established, Flynn said:
“Companies are buying some sources that are diluting for profits. I personally experienced buying a diluted product, and I was shocked at how diluted it was. Just by consuming it, there was really no effect for me.”
The co-founder added that the counterfeit product was sold at twice the price of their products:
“It was overpriced—double what we’re going to be charging, and the brand was unknown.”
This brought about an agreement between the founders to get their products verified on the VeChain blockchain.
Affirming a cordial relationship with VeChain and its blockchain solutions, Borovik said:
“Three years since I bought Vechain, I’ve learned a lot about the company. I’ve just been on track of it leading up to where I’m like, ‘Matt, this [Vechain] is where you wanna go’.”
So, through the partnership with Real Items, the two founders aim to provide authenticity and trust with their products across the world, in order to prevent the purchase of diluted CBD products.