The Cannabinoid Association of the Netherlands (CAN), a consortium of Dutch CBD producers, launched a new web tool harnessing blockchain technology.
This promises to allow consumers to trace a CBD product from seed to shelf, with a 360 transparent view of every step of the supply and production process. This is particularly important considering the dubious legality, or ‘grey area’, where CBD resides. This situation has left many manufacturers unaccountable to the same rigorous processes and rules applied to other industries, a worry to prospective consumers.
Whilst previous debates about the use of blockchain for this particular application had been stymied by the huge focus on blockchain as a (often turbulent) replacement for currency and slow performance, it seems that technological innovation is beginning to close the gap between decentralized platforms like blockchain and their centralized counterparts.
This will only narrow, with proposals for a cross-chain blockchain network structure, supporting message transmission between chains, decreasing time to load. This ensures that consumers can receive information in a timely manner, helping boost its use case, uptake and as a result, improved scalability.
Read more at verdict.co.uk