• The Informer Post
  • Posts
  • World’s First Blockchain-Based App Tracking Cannabis Production Set to Launch This Summer

World’s First Blockchain-Based App Tracking Cannabis Production Set to Launch This Summer

June 01, 2020

[the_ad id="93550"]

A company in Uruguay plans to launch the first blockchain-based app designed to trace the production of medical cannabis.

UruguayCan, a medical cannabis company, will roll out the app on the Aeternity (AE) blockchain, giving purchasers an in depth look into the origin of the product.

The app will trace each part of a cannabis plant’s entire life cycle in detail, from growing to packaging, while including data points such as flowering details, irrigation methods, pod sizes, greenhouse locations, humidity, temperature, light levels, treatments and fertilization methods, according to an explainer video produced by Aeternity.

Aeternity is designed to run high-speed smart contracts and decentralized applications (DApps) by moving them off-chain.

Says Aeternity,

“Created by blockchain development group Inmind, the platform enables complete traceability of medical cannabis from cultivation to harvest, down to packaging and distribution. This effort aims to raise security standards for international quality produce. Future developments plan to tap on the advanced features of æternity technology such as Oracles and State Channels.”

[the_ad id="95413"]

Aeternity says UruguayCan plans to launch the app in June or July, corresponding with the region’s upcoming cannabis planting season. The app will be open source, meaning it can be reprogrammed with different parameters for any other crop, according to the smart-contract company.

Aeternity was established in Liechtenstein in 2016. The company has processed over 8.85 million transactions and has mined more than 225,000 blocks at time of writing.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Jan Faukner/artjazz