LAS VEGAS, NOV. 13 – Cannabis is now legal from Yukon Territory to Nova Scotia. And, in the United States, 10 states now have legalized recreational adult use and roughly two-thirds of the country has a functional medical marijuana program. Despite this good news, significant work needs to be done to correct some of the biggest gaps in the regulatory system: strain registration, verification and certification.
Now, more than ever, Licensed Producers must protect their intellectual property and build consumer trust. If all the hard work creating unique proprietary strains is not registered and certified, it could be easily co-opted or stolen from competitor or illicit back-channel thieves.
Enter the BLOCKStrain Solution
BLOCKStrain was conceived, developed and designed to ensure the entire cannabis ecosystem – from the genomic scientists’ laboratory to the retail store shelf – operates in a fair and transparent way. If a Licensed Producer spends years to develop a
one-of-a-kind strain, it can easily and seamlessly register, verify and certify the product. And the consumer will benefit knowing exactly what he or she is buying at every purchase.
The time is now to begin the registry process if you want to protect your R&D investments. According to some economic forecasts, the global cannabis industry is projected to be worth roughly $200 billion (yes, with a B) by 2025.
“Companies that secure their intellectual property early will clearly have a distinct competitive advantage,” said BLOCKStrain CEO Robert Galarza. “Not only will the Licensed Producers provide transparency for their customers, they will be able to register the genetic makeup of their product.”
Last month, WeedMD, one of Canada’s premier cannabis brands, employed the BLOCKStrain platform, becoming the first LP to receive Strain Vault status. With BLOCKStrain’s immutable verification technology, WeedMD has officially certified its intellectual property – including the genomics of its Pedro’s Sweet Sativa, one of the most coveted strains in Canada…