SEATTLE, Dec. 13, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial
media network dedicated to the North American cannabis industry, announces publication of an article discussing BLOCKStrain Technology Corp. (TSX-V: DNAX) (OTC: BKKSF). The company offers a solution to
the problem of cannabis quality control by harnessing the power of blockchain technology. With a pilot program already in place
with a licensed producer, the company’s platform is poised to provide genome-to-sale reassurances to breeders, cultivators, stores,
and consumers that they’re receiving what they ordered.
The Canadian cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, following the legalization of adult-use cannabis earlier this year. While early sales
have been brisk, the industry faces key challenges with safety and quality control. Many consumers still receive the wrong strains,
while companies continue to struggle to meet regulatory standards and complete the associated paperwork.
Quality Control Issues Persist
The cannabis industry has long struggled with quality control issues. Since Canada’s MMPR was introduced in 2013, there have
been a number of recalls and sanctions on licensed producers for tainted and/or mislabeled products. Mandatory testing standards
have been implemented across the country, but many medical cannabis patients still complain about receiving the wrong strain and
experiencing unexpected effects.
Many medical and recreational consumers seek out specific cannabis strains, but it can be hard to differentiate a pure-bred from
a mutt. In fact, some research shows that upwards of one-third of cannabis strains don’t match their
advertised genetics. Many hybrid strains sold under the same name by multiple growers are also different from a genetic standpoint,
which can make it nearly impossible for consumers to know what they consume.
In the United States, the lack of federal regulations means that safety and labeling concerns are even greater. Many private
growers use chemicals, like rodenticide, to protect their crops, which ends up killing nearby wildlife and could make its
way into consumers. Some states have introduced their own regulations, but critics point out that the higher tax rates in these
areas encourage consumers to go back to the black market.
As with the Canadian market, the U.S. FDA has consistently warned CBD makers and their consumers of inaccurate labeling. Several products
labeled as CBD supplements didn’t contain any CBD at all, while others did not contain the levels that they claimed to contain.
These problems are likely carrying over into the wider cannabis market, especially in states where there is little in the way of
testing regulations.
BLOCKStrain Offers a Solution
Bitcoin’s dramatic rise and fall popularized the concept of a blockchain, but there’s much more to the technology than
cryptocurrencies. Using its immutable ledger, BLOCKStrain Technology Corp. empowers breeders to genetically test and register their
strains in a DNA database and license those strains to cultivators. Cultivators can turn around and prove the authenticity of the
strain and the lack of contaminants to consumers.
On October 24, BLOCKStrain and WeedMD Inc., a licensed producer and distributor of medical cannabis, announced the launch of BLOCKStrain’s blockchain-powered proprietary genome tracking
software following the collection and registration of an initial batch of 40 proprietary cannabis DNA samples. The move
makes WeedMD the first LP that can stand behind its products in a way that’s transparent and verifiable.
“There are so many reasons why you want to identify the precise nature of the plant you’re dealing with, such as ensuring
consistency for medical reasons, but also because in recreational cannabis a lot of people know what they like, and they want to
make sure they’re getting that same experience every time,” said Dr. Gina Conte, a PHD in plant genetics and co-founder of testing
and research lab Lighthouse Genomics in British Columbia.
She says a combination of a genetic record and the blockchain verification technology developed by BLOCKStrain is critical to
the future of the cannabis industry. “It’s like going to the wine store and buying a high-end Pinot Noir, and then you find out
later it’s a cheap Merlot. I think by adopting BLOCKStrain and genetic testing, WeedMD is setting the stage for a level of Quality
Assurance that the cannabis industry needs to have. They are an industry leading example that the rest of the industry will both
need and want to follow.”
The launch could yield a valuable proof-of-concept and model for other similar arrangements with licensed producers or other
cultivators around the world. In addition, the WeedMD program launch marks the start of tangible revenue and an initial look at the
compelling economics of its business model. Investors could see additional LP agreements come online in the near future as the
pilot program gains steam.
Looking Ahead
BLOCKStrain Technology Corp. (TSX-V: DNAX) (OTC: BKKSF) represents a compelling investment
opportunity that leverages the power of blockchain technology to solve a key problem facing the cannabis industry. With a pilot
program launched earlier this month with a leading licensed producer, investors may want to keep an eye on the stock for additional
agreements down the road as the company proves out its business model.
For more information, visit the company’s website or download their investor presentation.
Please follow the link to read the full article:
http://www.cannabisfn.com/blockchain-technology-offers-a-solution-to-cannabis-quality-control/
Disclaimer
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create
awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
About CFN Media
CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps
companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in
the US and Canada have relied on CFN Media to grow and succeed.
Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany
Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8
Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your
iPhone: http://www.cannabisfn.com
Disclaimer
CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own
independent legal, tax, and/or investment professionals before making any investment decisions. The information provided
on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid
advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm
enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other
editorials for advertising such companies. We are not an independent news media provider. We make no warranty or
representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly
and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As
such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted.
CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along
with financial and corporate news.
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create
awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
Frank Lane
206-369-7050
Flane@cannabisfn.com