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Back Cover Story: Blockchain: The
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Nationwide Solution to Cannabis Tracking
Continued from Back Page announcement that Levelblox, Inc., a
5
its tracking system and process. In developer of Software Asset Manage -
2018, Maryland reported issues includ- ment, signed an agreement with Altmed
ing rejection of patients and glitches Florida, a licensed cultivator, manufac-
caused by high levels of user traffic turer and distributor of medical cannabis
which resulted in dispensaries being in Florida to develop a Seed-to-Sale
6
unable to complete transactions. Why Block chain application which will
haven’t companies turned to blockchain enable Altmed Florida the ability to
as a solution? effectively track and monitor every
With blockchain technology, the refer- aspect of the growing process for com-
enced pain points and negative experi- pliance. Levelblox has the opportunity
ences can be eliminated once this tech- to make a use case in a very active med-
nology is embraced (and fully under- ical marijuana market in Florida.
stood) by the cannabis community and This is exciting news for the cannabis
state legislatures. and blockchain industry and I look for-
In simple terms, blockchain is a ward to seeing the two paired together
record-keeping technology. It is com- very soon in Florida and throughout the
prised of a chain of blocks (i.e. transac- country.
tions) stored and verified on an open-
source database. Blockchain is accurate, Adam Kemper, Esq., Greenspoon Marder
immutable and irreversible and it can LLP, can be reached at
process transactions immediately. When adam.kemper@gmlaw.com.
new information or transactions are
added to the chain, it becomes perma- 1 As of September 2018, here is a chart with the
nently stored and open for review by seed to sale tracking options in usage. https://mjbiz-
daily.com/chart-dominant-player-emerging-for-state-
anyone. cannabis-seed-to-sale-tracking-contracts/ .
Transparency, immediacy, storage and 2 See https://mjbizdaily.com/tracking-software-
accurate reporting make for the perfect issues-temporarily-stall-maryland-medical-cannabis-
solution for cannabis tracking. A third sales/.
party regulator could easily review a 3 See https://mjbizdaily.com/hiccups-traceability-
company’s cannabis transactions system-rollout-costing-washington-state-cannabis-
through the blockchain without having producers-thousands/.
to request special access or an audit. 4 See http://www.govtech.com/data/Washington-
Supply chain management is absolutely States-New-Marijuana-Tracking-System-Hits-Big-
vital for cannabis and many believe there Problems-Causing-Issue-for-Businesses.html.
5 See https://durangoherald.com/articles/220657.
is no greater technology that exists other 6 See https://slate.com/technology/2018/09/metrc-
than blockchain. mj-freeway-failures-government-legal-marijuana-soft-
In Florida, there was a recent ware.html.
www.CannabisNewsFlorida.com
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March 2019 cannabisnewsflorida.com Cannabis News Florida