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Calyx finishes developing Canadian cannabis exchange
2018-11-20 12:10 ET - News Release
Mr. Roger Forde reports
CALYX COMPLETES DEVELOPMENT OF CANADIAN CANNABIS MARKETPLACE PLATFORM
Calyx Ventures Inc. has completed the development of its Canadian cannabis exchange platform. Calyx's wholly owned subsidiary, Cannigistics Agri-Solutions Corp., has completed the wholesale component of the application and is now ready to proceed with the identification of third party partners for the testing of the platform.
"As the cannabis landscape matures, the necessity for an independent, fluid marketplace is becoming increasingly more apparent," explained Roger Forde, chief executive officer of Calyx. "To this end, we are building an infrastructure which will allow for any current and future licensed producers, distributors and extractors to get their product to market quickly, efficiently and affordably."
The wholesale and marketplace system was developed based on a proven and tested model currently in service in the Canadian agricultural marketplace. In addition to the company's extensive development and customization of this model to date, the final application framework includes a private distributed ledger to handle and track contracts and transactions.
"Blockchain technology is naturally suited to marketplace applications. This particular market has a need for transaction verification and transparency, so we feel that building the platform to include a private blockchain ledger will give it transparency with both market participants and regulatory authorities," Mr. Forde said. "We see great opportunity in the cannabis market for efficiency, liquidity and accountability, and intend to provide these features through our platform."