Founders of cryptocurrency who intended to “build blockchain into the cannabis industry” raised US$12 million and then disappeared Blockchain technology hopes to keep CBD honest Enter blockchain. Blockchain’s unique combination of validity and traceability opens up a whole world of possibilities for businesses, both in the cannabis industry and beyond. Because blockchain is transparent and secure, it provides the cannabis industry with validity at every level. Decades of needless prohibition have done a number on recordkeeping within the cannabis industry. Blockchain is an online ledger that records data chronologically into a sequence (chain) of secure packets (blocks).
Decades of needless prohibition have done a number on recordkeeping within the cannabis industry.
Coming out of a lengthy period where records ranged from haphazard to discouraged, industry leaders must adapt best practices in what has already become big business.
With big business always comes a demand for more thorough records, whether today for internal and tax accountability or tomorrow for investors, IPOs, mergers, acquisitions, and more. And while the transition from hidden or memorized information, to scattered spreadsheets and finally more onto comprehensive computer databases and exhaustive records has been a great leap forward for cannabis...
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