Panama Cannabis Firm TheraCann is Using Blockchain to Store Its Marijuana-DNA Data via TruTrace
- Over the past couple of years, TheraCann has been on a mission to create a system that is able to efficiently trace its various weed-related products (such as oils, edibles and salves).
- Using its current platform, the firm is able to issue DNA tags for its marijuana produce — thereby allowing it to keep close a close watch on the potency and movements of its various offerings.
In what is being considered to be a major breakthrough for the crypto industry at large, a Panamanian company called TheraCann has just released a statement online claiming that it has been successful in making use of Tru Trace’s ‘Industry Blockchain Hub’ so as to verify the ‘authenticity’ of its weed (and other related products).
Simply put, the company is “sequencing the DNA of its marijuana reserves” and storing the associated data on a blockchain system so as to ensure more transparency (as well as better delivery efficiency) for its clients.
A Closer Look at the Matter
From a technical standpoint, we can see that Tru Trace’s monitoring system provides businesses with ‘seed-to-sale’ level traceability (primarily for cannabis and hemp). Additionally, the platform also makes use of a host of niche’ data such as the pot’s applied DNA’s code, molecular tag and other information such as:
- Biomass levels
- Extraction dates
- Isolate concentration/purity
Additionally, in regards to this entire development, Jason Warnock — CEO of TheraCann — was recently quoted as saying:
“Collaborating with TruTrace connects the dots with an information platform linking the provenance of material, testing information and patient data that is so vital to the safety and efficacy of the global market.”
In closing out this piece, it should be highlighted that TheraCann’s aforementioned tracking system is designed in such a way that it is able to protect the intellectual property rights of the farmers producing marijuana. Not only that, but it is also worth mentioning that TheraCann is part of the ‘Applied DNA Sciences’ ecosystem.