Blockchain Firm Partners with Cannabis Data App for Research Initiative

A blockchain company has teamed up with the Cannabis Data app to launch a research project aimed at advancing the cannabis industry. The blockchain-based data marketplace, Measure Protocol, and Broccoli (a cannabis-focused research rewards app) will collaborate to create a research community for cannabis users.

According to a press release dated November 12, the companies plan to use this new community to survey consumers, collect data, and generate reports on cannabis use and the industry as a whole. The initiative aims to discuss the benefits of marijuana, debunk or confirm myths surrounding it, and make the collected information publicly accessible.

Philip Olla, co-CEO of Audacia Bioscience—the company behind Broccoli—stated that blockchain technology will allow firms to collect cannabis usage data in a transparent and reliable way, helping to bring cannabis into the mainstream.

Integrating Blockchain into the Cannabis Industry

Other stakeholders in the marijuana industry are also applying blockchain to various aspects of their businesses. In late September, Aeternity, a decentralized blockchain platform focused on applications, announced it would use its system to track the supply chain of a cannabis producer for both medical and recreational use in Montevideo, the capital of Uruguay.

TruTrace Technologies Inc., a blockchain tracking company, has partnered with Big Four accounting firm Deloitte to monitor cannabis usage. Their system is designed to track plants from seed to sale, ensuring that customers and retailers know the product’s history.

Additionally, Security Matters, a company listed on the Australian Securities Exchange, has filed a patent application in the United States for a blockchain system to securely manage the cannabis supply chain. The proposed system could be used to label, track, and manage supplies of the plant, as well as products and ingredients derived from cannabis.

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