Liberty Leaf Holdings Ltd. has announced a partnership with BLOX Labs Inc, for the development of a blockchain-based smart contract platform for use in supply chain management within the legalized Cannabis industry. When complete, cannaBLOX will provide the supply chain transparency necessary to gain the trust of regulators.
According to the company, the software will help to minimize logistical bottlenecks, fraud, and other criminal activity. It can also help ensure product safety, quality of supply, and taxation and regulatory compliance.
Will Rascan, President and CEO of Liberty Leaf Holdings, made the following comment regarding their wholly owned subsidiary North Road Ventures:
“A vital component of not only our sales and distribution focused model at North Road, but of a nationwide recreational and medical Cannabis landscape, will be the transparent traceability and documentation of Cannabis products across the supply chain. As with any pharmaceutical or food grade product, consumers deserve to know that the product they are consuming is of the utmost in quality.
We are very excited to be amongst the first movers in applying Blockchain technology to the Cannabis sector as I believe that seed-to-sale provenance verification will quickly become the industry norm.”
Harald Seemann, CEO and Director of BLOX, had this to say on the partnership:
"Our objective as a technology company is to develop commercial software solutions utilizing emerging trends in Blockchain, Smart Contracts and Decentralized Application Technologies. This partnership with Liberty Leaf on the development of cannaBLOX provides us with an exciting opportunity to be at the forefront of two burgeoning and intersecting sectors, Cannabis and Blockchain."
Liberty Leaf Holdings Ltd. is a publicly traded Canadian company with strategic investments and partnerships in both the medicinal and recreational cannabis industry. Its focus is not on growing cannabis, but rather on providing the resources necessary to maximize the growth and profitability of the companies they have invested in.