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Towards the legalization of cannabis via the Blockchain?

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November 6, 2017 | 

Joanna Newman |  0 Comments| 

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Towards the legalization of cannabis via the Blockchain?


The Government of British Columbia has been informed that IBM is touting the use of the Blockchain to ensure consumer safety and regulate the legal distribution of cannabis, "from seed to sale".

It was in the context of a regulatory framework for a legalized non-medical cannabis industry scheduled for July 2018 in Canada that the Government of British Columbia was informed.

What could be interesting in Blockchain technology in this area is its ability to bring transparency, and its immutability. One could thus envisage a true traceability of the product and to make sure of the origin of the cannabis throughout the supply chain.

The document explained:

"The Blockchain's relevance to cannabis regulation is similar to its many chain of custody applications in areas such as pharmaceutical distribution and food chains. "

Thus, according to this report, this would allow the government to control the sale of the product, while completely eliminating the risk of selling on the black market.

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