California Cannabis Producer Uses Blockchain to Track Its Products
A cannabis cultivation company from California has decided to use blockchain and smart contracts to set up a system to verify the authenticity of their medicinal plants.
Mendocino Clone Company (Cannabis Nursery) was named in a January 13 announcement by technology firm Global Compliance Applications as an EMTRI project partner. Using the project's blockchain, all of their clones (young plants) will be tagged with a certified batch.
Cannabis nurseries are places where, with the help of genetics, clones and seeds are produced for wholesale distribution.
With blockchain, the company will be able to "track and document its cannabis plants from the initial stage of the journey to becoming a premium product for consumers based on flower weight," she said.
A batch certificate is a smart contract that is automatically generated for each plant. This means each plant will have its own "unique identity block," created by the nursery and linked to a private Ethereum-based blockchain.
This network can then be used by their clients (commercial farms and retail stores) to verify the authenticity and genetic lineage of the plants. The first clones with this batch certificate will be available in the first week of February.
In addition, licensed growers who purchase Mendocino clones will have the opportunity to earn rewards in the form of EMTRI tokens (EMT), as well as having access to better prices on produce through participation in the project.
The EMT token was released in November 2022 with a view to providing rewards to all participants in the project. It can be staked or traded on Uniswap for USDC. EMT is not listed on any centralized exchange or platforms that collect crypto market data, such as CoinGecko.
Scott Zarnes, co-founder of EMTRI Corp, commented:
"We are excited to be at the forefront of the cannabis industry and to become the first in the United States to implement this cutting-edge technology."
This isn't the first time cannabis and cryptocurrency have come together.
In November 2022, a Metaverse project called Cannaland was launched to create a virtual world for cannabis enthusiasts. And in January 2022, a custom pipe maker launched NFT bongs, which have been bought by celebrities like Snoop Dogg and Santana.
Back in 2014, projects like PotCoin and CannabisCoin wanted to push a digital currency for the industry, but they never quite succeeded.