Could Blockchain Technology Be The Answer For Regulating Cannabis Growth And Sales?

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Could Blockchain Technology Be The Answer For Regulating Cannabis Growth And Sales?
Image credit: Wendy McCormick

Most businesses keep meticulous records of their inventory and sales, tracking how much and which varieties of product they move and at which times. This is even more true for industries like alcohol and cannabis, which need to demonstrate to regulators that they are following all necessary laws related to how they sell controlled substances. Last year, cannabis legalization took large steps forward as California, Nevada, and Massachusetts all voted to legalize recreational marijuana, creating even larger markets of cannabis sellers who needed to be able to track their product. Blockchain offers a new approach to solving this problem, offering states and retailers a means of tracking cannabis from seed to smoke, so to speak. 420 Blockchain is a business bringing the blockchain to the cannabis industry in a way that helps consumers, industry figures, and regulators.