Aeternity Partners with Uruguay Can to Track Cannabis Production Using Blockchain
Brian Njuguna Sep 26, 2019 11:39
Uruguay Can, one of the major cannabis production companies in South America, and Aeternity, an open-source blockchain firm intended for decentralized applications, have partnered in developing a supply chain management platform based on the blockchain technology.
Uruguay Can, one of the major cannabis production companies in South America, and Aeternity, an open-source blockchain firm intended for decentralized applications, have partnered in developing a supply chain management platform based on the blockchain technology.
The collaboration will permit the tracking and registration of cannabis strains from the initial seed stage to the final product. Notably, this process will entail the combination of blockchain and Internet of Things (IoT) technologies in the generation of decentralized applications.
Pablo Coirolo, Aeternity CEO, stipulated that blockchain technology was instrumental in the provision of confidence and security about the quality of recreational and medical cannabis.
Coirolo noted:
“We want to be the first to offer a business-level solution in partnership with leading technology providers and cannabis producers, processors and distributors,” said Pablo Coirolo, CEO of æternity Americas. “æternity technology is ideal for tracking the entire cannabis production process, from seed to full plant growth, throughout the entire supply chain, which ensures consumer safety while complying with regulations.”
Uruguay’s cannabis legalization
In 2013, Uruguay made a bold move of being the first nation across the globe to entirely legalize the sale and production of cannabis.
The first implementation phase of the project is scheduled for October 2019, whereas the entire implemented is stipulated to happen by mid-2021.
Eduardo Blasina, Uruguay Can CEO, praised the undertaking. He stipulated:
“We are proud to be the first company in Uruguay that can guarantee the quality of our products in a transparent and verifiable way. [...] The ability to trace the source and the way cannabis is produced is beneficial for both the cannabis and pharmaceutical industry as well as its consumers and end users, who should feel more secure about the product that they are consuming.”
Blockchain technology has been transforming various sectors. For instance, Waste2Wear recently showed its intention of using blockchain in tracing the conversion of ocean plastics into eco-fabrics.
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