Aeternity, a next-gen blockchain project for decentralized applications, announced that it is working with Uruguay Can in order to track Cannabis production using blockchain technology.
Uruguay Can is one of the leading cannabis production companies in South America. The information was released by Aeternity in a blog post on September 25.
Aeternity To Track Cannabis Production
The Cannabis and blockchain market continue expanding. This time, Uruguay Can and Aeternity signed a partnership that would allow them to create a supply chain management platform for the cannabis trade.
This would allow for the registration and tracking of cannabis strains from the seed to the final product. In order to do so, these two firms will be using blockchain technology and Internet of Things (IoT) technology.
The CEO of Aeternity Americas, Pablo Coirolo, explained that distributed ledger technology (DLT) can provide security and confidence about the quality of medical and recreational cannabis.
About this partnership, Coirolo said:
“We want to be the first to offer a business-level solution in partnership with leading technology providers and cannabis producers, processors and distributors.”
With these new services, consumers can be sure that the products their purchase have been controlled and are compliant with the current regulations. Uruguay is one of the most open countries in terms of cannabis usage.
Indeed, the government controls the cannabis market by selling different products through pharmacy all over the country. Argentina, for example, has approved the use of medical marijuana but Brazil only legalized a specific brand to operate in the market.
The report explains that the first phase of this implementation between Uruguay Can and Aeternity will begin in October. It is expected for it to be completed in January 2020. Moreover, the full implementation is planned to take place during the first half of the next year.
Aeternity is a blockchain protocol that is working in order to create a next-generation decentralized application network and provide scalability solutions to the crypto and blockchain industry.
Uruguay Can is a company based in Montevideo that has experience in recreational and medicinal cannabis development.
There are many projects in the blockchain industry that are currently focused on improving different supply chains. For example, at UseTheBitcoin we reported that Carrefour was testing blockchain technology to know more about the products they purchased at Carrefour.
At the same time, JD.com decided to implement a blockchain system to track the supply chain of meat sales.