Cannabis Green Book is challenging the way we verify and authenticate our commodity
Distributed ledger technology provides a greater degree of reliability and accuracy on the metadata associated with products — times, dates, locations, quantities — which have the potential to reduce friction in the cannabis market-place, save businesses valuable resources, and provide greater transparency to government regulators.
Blockchain contracts allow for businesses to enter into agreements, purchase orders, fulfillment requests and many other legalities with a verifiable and transparent authentication. Our smart contracts take your documents and verifying them on the blockchain networks to create a master document In case of dispute or compliance issues. This allows for more trust when entering into contracts as each party is held accountable to the master authenticated contract.
In the sharing economy, as it exists today, buyers and sellers have to go through intermediaries to conduct a transaction (such as Airbnb for short-term rentals and Uber for ride-sharing). The blockchain enables peer-to-peer transactions without third parties, meaning that personal and business reputation can be verified and thus more reliable. CGB Blockchain is exploring how this can be applied to the cannabis industry to help speed federal legalization and solve federal prohibition issues.
Blockchain has the potential to streamline its collection and organization while eliminating traditional security risks. This would enable advertisers to better target consumers, reduce the risk of security breaches, and enable the development of solutions that better serve the Cannabis community.