When people hear the word blockchain, they often think of the rise of cryptocurrencies like Bitcoin, but TruTrace Technologies (“TruTrace”) is using blockchain to track cannabis from seed to the hands of medical patients in Canada – specifically from a testing and supply chain perspective. They wanted to develop a dynamic supply chain visibility solution that could implement a blockchain solution into their framework, allowing TruTrace not only to protect the data surrounding cannabis, but cannabis consumers and patients at large.
So, who is validating these transactions? With cryptocurrency, a large group of decentralized miners (millions of computers across the world) track the exchange of cryptocurrency every time it passes “hands,” so to speak. When it comes to tracking cannabis genetics among a myriad of other data points, the blockchain miners with TruTrace ensure validity via a “trusted node network,” according to TruTrace CEO Robert Galarza, who states that the various players (governing bodies) along the way include pharmacies, licensed producers and in this instance, Health Canada. It is not an open mining solution that’s tokenizing the support of the chain itself, but rather a network of stakeholders looking to create a better level of trust when it comes to the sale of medical cannabis in Canada. With TruTrace, the industry stakeholders are the ones who govern the body and manage the ledger. Software solutions and SaaS models can then be built off that particular chain in an effort to access information.
The inspiration behind TruTrace came from an inherent issue that they saw in seed to sale tracking systems without proper inventory identification. They knew that genetics was the key to a larger tracking solution and they knew that the future of medical cannabis across the globe would eventually come down to identifying, tracking and verifying the genetics and source of cannabis strains.
TruTrace’s software platform, StrainSecure™, tracks cannabis strains at every testing point. With thousands of strains on the market and with more being created and bred every day, it’s important that a pharmacist can ensure that the cannabis they are giving to a patient is, in fact, the cannabis that has: A) been prescribed to the patient; B) worked for the patient historically; C) came from its noted origin or production facility and D) has been verified using the plant’s genetic variation.
Read more at dopemagazine.com