Rhode Island is hoping that blockchain technology can enhance the state’s efforts to track the medical marijuana industry and identify bad actors, according to a notice published on Monday.
In a request for proposals, the state asked blockchain companies to submit concepts that would help Rhode Island leverage blockchain—a system that records cryptocurrency transactions—for various ventures, including its medical cannabis program.
“Rhode Island aims to be a leader in government efficiency and innovation and we believe exploring the possibilities of blockchain technology is a step toward modernization in government,” Liz Tanner, director of the Department of Business Regulation, said in a press release. “This will encourage blockchain businesses to demonstrate their value to government entities, and I encourage blockchain-based businesses to consider Rhode Island to test blockchain technology within government.”
The notice stipulated that the state is interested in developing technology that could help it increase “visibility into the Medical Marijuana industry from seed to sale, reducing potential fraud and abuse.”
Read more at marijuanamoment.net