Cannabis tracking on the blockchain

Revolutionizing the cannabis industry?

“This is the future of medical cannabis in the world,” proclaims Shoppers Vice President Ken Weisbrod proudly at the World Cannabis Congress in Saint John, New Brunswick. As Bloomberg reported on 17 June, US drug retailers will soon be using blockchain-based medical cannabis tracking systems.

TruTrace, the LA-based IT firm involved in the Shoppers pilot program in Canada, is also optimistic. Especially since the legalization of cannabidiol in the US, there is a gap in the market for blockchain security systems. Because some products had too low (or even non-existent) levels of CBD. Market giants such as CVS and Walgreens thus need reliable verification procedures for their cannabis products.

“We hope the success with Shoppers will lead to a similar relationship with the Walgreens and CVSs of the world,” commented TruTRace CEO Robert Galarza in an interview on the sidelines of the Cannabis conference. “There is still skepticism from the medical industry and we try to help eliminate it; All this can be broken down to information. Information is power, data is power. “

In doing so, Galarza plays on the industry-revolutionary effect of decentralized storage systems. In fact, health economics has long been interested in blockchain technology. In addition to innovative approaches, for example in the fight against counterfeit medicines, there is also critical restraint. An example of this is statements by German health minister Jens Spahn, who considers the blockchain technology not sufficiently researched enough to be used in state health administration.

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