Tracing Cannabis…from Genome to Sale

Savvy investors know the cannabis landscape is changing at the speed of light. What was once, until relatively recently, a market populated by a few start-ups focussed primarily on cultivation and distribution has now been increasingly populated by technology-based companies entering the space as true pioneers. And the new frontier they’re trailblazing is head-turning, to say the least.

One such company is TruTrace Technologies Inc. (CSE:TTT, OTC:TTTSF, Forum) – a full-service software firm that designs and operates an integrated blockchain platform. And, as a component of this platform, it registers and tracks cannabis intellectual property…from genome to sale. The Company also monitors the process of genetic and quality-control testing for both medical and adult-use cannabis.

Originally founded in 2017 as BlockStrain Technology Corp., TruTrace’s software solutions are designed to expedite the DNA testing of cannabis strains, and to then register those strains in a blockchain-enabled database in order to protect the client's intellectual property while executing actionable quality assurance to the cannabis industry. The software also provides consumers the confidence that the strain they’re buying is actually the original strain, and not a different variety sold under a false name.


“Necessity: The Mother of Invention”

Enter TruTrace’s proprietary, industry-leading StrainSecure system. This unique software solution was primarily developed as the result of the issues around provenance and integrity of cannabis. However, it was also developed because many cultivators have developed cannabis strains that are licensed to other companies…only to see them pirated and sold with no license fees being paid. As well, recent studies and investigations by journalists have found that many products being sold under the name of a specific strain are not actually grown from that strain. Strains that were supposed to be different were nearly the same, while strains that were supposed to be the same were different. The more the scientists looked at the problem, the less reliable the labels turned out to be. Sounds confusing? It is. And that’s one of thee main reasons why scientists and computer developers at TruTrace designed the software in the first place.

The Company says StrainSecure’s software platform is designed to protect any Licensed Producer’s (LP) supply chain from illicit players by using “big data with an immutable, cryptographically secure blockchain.”

StrainSecure software is now available to any LP in Canada to protect and validate their products.


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How it All Works

First, the TruTrace team collects plant-testing data and performs genomic verification in plant batches. The information is registered in a blockchain-enabled database for intellectual property protection and strain validation. Then, all information gathered from the plants – including their molecular and chemical makeup – is tracked along the supply chain from seed to sale. Actually…genome to sale.

TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality control testing for legal cannabis. The tech is proprietary, immutable, and cryptographically secure…thereby establishing an accurate and permanent account for cannabis strains from ownership to market.

Despite a saturated and, in many cases, overvalued cannabis market, there is still real value and opportunity for retail investors looking for companies that truly provide state-of-the-art solutions in a crowded marketplace. And the medical cannabis clinic market, along with the collection of big data that will provide future insights for the medical market, is an intriguing vertical of the cannabis space that’s far less saturated than cannabis LP’s, cultivators, retailers, and extractors.


TruTrace Technologies Highlights

• First mover in the cannabis tracking technology space.
• Launched a blockchain-based platform for tracking, licensing and archiving genetics of cannabis plants.
• Automated platform that is integrated into Health-Canada approved cannabis-testing facilities, cutting red tape, and administrative expenses by 50 percent for all required and optional testing.
• Platform can be integrated with most current and legacy seed-to-sale and enterprise resource planning (ERP) systems.
• Open source platform to be publicly accessible, transparent, and community oriented.

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In the News

Recently, TruTrace Technologies teamed up with renowned financial advisory and consulting firm Deloitte Touche Tohmatsu Ltd. – the world’s number one consulting and management firm – to bring increased transparency to the retail cannabis industry. TruTrace’s StrainSecure system uses blockchain technology to trace cannabis from genome to sale, guaranteeing that customers and retailers alike know exactly what is changing hands.

And, the huge announcement from TruTrace in August 2019 – the completion of Phase One of its blockchain-secured Pilot Program with Shoppers Drug Mart.



From the CEO

In a lively and informative conversation with Stockhouse Editorial, TruTrace Technologies’ CEO Robert Galarza spoke on a variety of topics…not the least of which was his company’s ability deliver blockchain product-traceability solutions to the cannabis industry and the competitive advantage it will offer investors:

“Two of the most important things we offer – innovation and technology. And at the end of the day they both require adoption of scale. And it requires strategic partnerships. We have adoption…from small (cannabidiol) CBD manufacturers in California that we’re working with on a smaller scale all the way to the Shopper Drug Marts of the world. When you combine that with partners like Deloitte, and what this can mean from a scale perspective, you’re in pretty good company.”

He went on to say the despite not being a fortune teller he can confidently predict what the future holds for the technology of cannabis genome mapping:

“None of us really know what the landscape looks like. None of us know what the chessboard is going to look like, how the chess pieces are going to move, and who’s going to win at this game in five years. But if you make yourself a part of the chessboard, you can do two things. One, provide trust and transparency for Shoppers (Drug Mart) and patients. And two – if you open up a greater bridge to medical practitioners accepting cannabis as a medicine and get them to open up their prescription pad, it opens the market. And once we start rolling up our sleeves and working together, we can open up this industry on a massive global scale.”


Meet the Team


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TruTrace Technologies | WeedMD from Spartan Media Group on Vimeo.

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https://trutrace.co

https://strainsecure.com

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.