IBM talked and these Canadian Companies Listened: Blockchain & Cannabis: (NYSE: $IBM) (CSE: $UPCO.CN) (TSX-V: $DMGI.V) (TSX-V: $DNAX.V)
Point Roberts, WA and Delta, BC - November 1, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in a leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com reports on blockchain companies deploying technology in the cannabis sector.
In 2017, IBM (NYSE: IBM) came out with a 3-page report offered to the BC government, on utilizing blockchain as a way to monitor and secure cannabis payment and tracking of the industry.
Blockchain's "relevance to regulating cannabis is similar to its many chain of custody applications in areas such as pharmaceutical distribution and food chains," IBM wrote in its submission. "The core to those supply chains is the same, assuring health and safety of consumers, preventing fraud and counterfeiting while creating a foundation of transparency upon which to base regulation."...
"This type of transparency would bring a new level of visibility and control to the provincial regulators and provide assurance to the multitude of cautious stakeholders regarding the way the management of a cannabis supply chain is rolled out within British Columbia," IBM said. (Source: Fortune Magazine: http://fortune.com/2017/11/07/ibm-blockchain-marijuana-cannabis/)
More info on Cannabis and BC government submissions: https://engage.gov.bc.ca/app/uploads/sites/121/2018/08/Cannabis-Regulation-in-B.C.-What-We-Heard.pdf
Fast-forward to 2018, with legalization finally here in Canada. A few companies have recently announced they listened to the advice of IBM and have started launching platforms and innovative ways with blockchain to help regulate and work with the cannabis industry.
The companies listed below have all recently announced their deployment and synergistic app technologies developing and moving into the cannabis space.
"DMG Blockchain Announces Global Supply Chain Management Platform for Cannabis
VANCOUVER, British Columbia, Oct. 16, 2018 -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (6AX.F) ("DMG" or the "Company"), a diversified blockchain and cryptocurrency company, is pleased to announce that development is now underway with our technology partner to build a global supply chain management platform with a focus on the legal cannabis industry. Deployment will begin in Canada, and subsequently expand globally.
- The supply chain technology provides DMG and its partners with a "first mover" advantage as a global cannabis blockchain solution
- DMG's platform will have the capability to provide immediate product traceability, as well as automating transactions and information flow among licensed producers, licensed distributors, regulators, retailers, shippers, and reporting and auditing systems
- DMG's global technology partner has commercially deployed multiple blockchain-enabled supply chain management systems for Fortune 100 clients"
"Upco International Inc. Announces Synergy with the Multi-Billion Dollar Cannabis Sector in the Areas of Regulatory Compliance and Risk Mitigation
Vancouver, British Columbia - October 29, 2018 - Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) ("Upco") is pleased to announce that it is actively seeking to leverage its blockchain and eWallet technology to support the emerging and rapidly growing Cannabis industry. According to CEO Andrea Pagani, "Our advanced blockchain e-wallet will help to foster the security and legitimacy of this very significant sector, while also enhancing its supply chain efficiency. We are also exploring other potential synergies with the Cannabis industry, including reward programs."
With the highly regulated legalization of Cannabis in Canada and 22 European countries, there is a need, and opportunity, to be able to securely track and report on aspects of transactions that are subject to regulation, including for example, the age and identity of the purchaser."
Highlights from UPCO app technology
Integration between our bank (Emoney) and our eWallet, will position Upco to provide the Cannabis sector with a convenient, robust, and secure financial solution that provides Upco merchants with:
- Reliable customer verification based on a secure onboarding process managed by eMoney. This authentication will mitigate the risk of selling products to non-legitimate and / or under-age persons.
- The ability, via their own POS systems, to track purchases (e.g. volumes, categories) against specific, reliably authenticated and age-verified customers.
Features, which will ultimately benefit both parties to a transaction (vendors and customers) include:
- Realtime transfer of fiat currency from the customer's eWallet to the vendor.
- A debit Mastercard to use as an extension of the eWallet to pay any approved Mastercard merchant worldwide.
- Access to money on a 24 x7 basis, year-round.
Full press release here: https://finance.yahoo.com/news/upco-international-inc-announces-synergy-130000054.html
"It's Here: BLOCKStrain's Revolutionary Genome to Sale Software Goes Live
VANCOUVER , Oct. 24, 2018 - BLOCKSTRAIN TECHNOLOGY CORP. (the "Company" or "BLOCKStrain") (TSXV:DNAX.V) (OTC PINK: BKKSF) and WeedMD Inc. ("WeedMD") (TSX-V:WMD) (WDDMF) (4WE.F) are pleased to announce the formal launch of the BLOCKStrain proprietary genome tracking software following the collection of WeedMD's cannabis plant DNA last week. BLOCKStrain is now generating its first revenue with the launch of the commercial version of the software offering with WeedMD as the Company's first commercial client."
Full press release here: https://finance.yahoo.com/news/blockstrains-revolutionary-genome-sale-software-141800673.html
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