Locke Lord: BLOCKCHAIN COMPANY APPLIES FOR U.S. PATENT FOR CANNABIS SUPPLY-CHAIN TECHNOLOGY

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Summary

Information is power, data is power.” We’ll be monitoring cannabis blockchain advances here on our blog. Doctors may use blockchain data of cannabis products as they monitor improvements in their patients’ health. Security Matters is not the only one pursuing blockchain technology in the cannabis space. In another recent deal, Canada’s largest pharmacy, Shoppers Drug Mart, boasting 1,300 stores, and blockchain company, TruTrace Technologies, Inc., launched a pilot program to track the source and genetics of medical cannabis products. This new technology, if effective, would have many benefits, including protecting the authenticity of cannabis products sold and distributed under a given name and enhancing transparency in the recreational and medicinal cannabis markets.

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Author: Rebecca Lee Katz

Sep 5, 2019

 Intellectual Property

Israeli blockchain company Security Matters (ASX:SMX) announced that it has applied for a U.S. patent to protect its technology used to track the cultivation, classification, and identification of cannabis seeds and plants.

Security Matters claims its chemical solution will help manage the supply chain of cannabis by marking any cannabis product, in its solid, liquid, or gas form, with a chemical-based...

Read the full article @ Cannabis Law Report