There has been a shift in the agricultural industry over the past few decades as the industry has embraced the use of data in a bid to enhance efficiency and innovation. Another significant change is about to take place, this time in the hemp and cannabis industry, as they look to incorporate the use of blockchain technology to manage data on the plants across the supply chain. The company at the forefront of this project is called Greenblock.
Greenblock is a blockchain based data ecosystem for the hemp and cannabis industry-wide world. Greenblock will be equipped with a personal virtual assistant that operates alongside the blockchain to facilitate easy management and traceability of hemp and cannabis plants and products as they move through the supply chain.
The enhanced traceability comes in at a crucial time when government regulations are becoming more stringent needing RFID tags and serial numbers to be allocated to every batch of young plants. The Greenblock database will enable industry players to swiftly comply with these regulations by providing authorities with real-time monitoring into the inventory regardless of one’s location. The tags and serial numbers will hold vital information such as the number of plants at each stage, the strain, its location, intended use and the propagation method used. There are also the additional details such as the purity results derived from the lab tests that indicate the level of toxins and pesticides in the plants available through the track and trace system.
The use of blockchain technology to host the track and trace database has several advantages including improved speed in sending data and values, enhanced security, increased transparency, and decentralization.
The Greenblock blockchain traceability proves crucial to various stakeholders ranging from retailers, governments, growers, exporters, processors and even consumers. The system allows each party to be able to receive appropriate data in a secure, transparent and trusted manner. Moreover, a token ecosystem enables the creation of proper incentives for rewarding the people involved in capturing data.
It’s designed to reward hemp and cannabis producers and other supply chain players encouraging sustainable practices that go beyond state requirements for traceability. However, Greenblock tokens (GBK) play more of an incentivizing role for data capture within the supply chain than as a currency for trading hemp and cannabis. Through creating appropriate reward structures for parties involved in data capture the platform will encourage participation of new players.
Services of Greenblock Ecosystem
- Full traceability
- RFID Technology
- Harvest planning
- Disease modeling
- Weather forecast
- QR Barcode system
- Soil sensors
- Weather station
- Yield mapping
- Planting scheduling
- Token Name: Greenblock token
- Token symbol: GBK
- Token format: ERC-20
- GBK tokens will be listed on various markets for trading.
- GBK tokens cannot be mined.
- Begins 30th June 2018 – 30th Dec 2018
- Total token supply: 1,000,000,000 GBK
- Total hard cap: 50,000,000 USD
- Soft cap: 5,000,000 USD
- Min Investment: 250 GBK
- Begins June 30th, 2018 – July 31st, 2018
- 30% Bonus
- Begins August 1st, 2018 – August 31st, 2018
- 20% Bonus
- Begins September 1st, 2018 – October 31st, 2018
- 10% Bonus
- Begins November 1st, 2018 – December 30th, 2018
- 5% Bonus
- Marketing, hosting, and operational cost – 30%
- Platform development – 55%
- Team – 10%
- Security reserve – 3%
- Legal expenses – 2%