TruTrace Technologies Inc C.TTT

RE:RE:Looks like Toronto meeting went well

[LaserStock29]

June 13

These types of supply chain issues are exactly what Blockchain was created to solve, says Deloitte. “These offer some of the most attractive opportunities in terms of potential value,” the report says, adding, “Blockchain opportunities in this segment relate to connected supplychain, and authenticity and provenance.”

The company is also building out the first blockchain logistics system to track cannabis shipments not just from seed to sale, but from ‘gene to sale’.

“Producers in this industry need to know two things very urgently in order to compete in the growing cannabis market,” says Blockstrain CTO Tommy Stephenson. “Basically it’s ‘where’s my weed’ and ‘is that my weed?’.

“When you deal with this strictly controlled substance, governments want to know where those shipments are; they want to know the product has been tested and is safe for the consumer; and they want to make sure there is no diversion to the black market, which has been an issue in jurisdictions outside Canada,” Stephenson explains.

The second looming issue is the question of who owns the genetic ‘intellectual property’ for a particular strain.

WeedMD (TSX-V:WMD) (OTC:WDDMF) (FSE:4WE) was the first Canadian licensed producer to adopt Blockstrain, and the management team was so impressed that the company invested $500,000 into the fledgling software firm. CFO Keith Merker says the key value is protecting WeedMD’s intellectual property as it develops new strains, each worth millions of dollars.
"Unique and differentiated strains and product offerings have always been, and will remain, a cornerstone of WeedMD's business model,” said Merker. "Validating and protecting that intellectual property through BLOCKStrain's platform will prove invaluable as we scale operations and broaden our distribution throughout the country as well as internationally."

The authors of the Deloitte report would undoubtedly agree that WeedMD made a smart move by investing in a robust blockchain solution. They say companies that improve their supply chain and provide assurance over the authenticity and safety of their products, will dominate in the retail world.



We got to get a nice update with 30 days to go on monday if Spier has made ground with government and any updates on that Toronto presentations networking..


Im excited :-)