- Blockstrain uses blockchain to verify cannabis genetics
- Partnership marks company’s first foray into U.S. CBD market
Vancouver-based Blockstrain Technology Corp. uses blockchain to verify cannabis genetics and assure consumers that they’re getting what they think they’re getting. The Canadian company announced its first foray into the U.S. Tuesday, signing a letter of intent with Los Angeles-based NXT Water LLC to develop and launch Akeso Functional Fitness Water, a CBD-infused drink that markets itself as the “first-ever fully transparent beverage.
CBD, which stands for cannabidiol, is burgeoning in popularity after the U.S. farm bill legalized a hemp-derived version of the non-intoxicating extract last month. But the U.S. CBD market has been overrun with low-quality products from unverifiable sources, according to Blockstrain Chief Executive Officer Robert Galarza.
The joke is that CBD stands for ‘could be dishwater,’” Galarza said in a phone interview.
Blockstrain uses blockchain — the digital ledger used for verifying and recording transactions that’s best known for underpinning Bitcoin — to track cannabis from harvest to purchase.
