Recent statistics show Interest in cannabidiol-based products has been on the rise as the global cannabis market is expected reach $42.7 billion in the next four years. In order to address regulatory concerns, policymakers in different regions are looking toward using blockchain technology to help provide transparency into the multifaceted cannabis supply chain. Most recently, the Cannabinoid Association of the Netherlands announced the launch of a blockchain-based traceability tool that would enable consumers to trace certain CBD products directly back to their source. Also, the California government are advocating for the adoption of a blockchain-based track-and-trace methodology. While important steps are being taken by policymakers to use blockchain for a safer, more widely accepted cannabis industry, reports show government officials will have the final say in the matter.
– XBT.MONEY, 08/15/2020 2:06:40 AM