Recent ballot measures in a number of states have made marijuana legal for different uses, including medicine. However, states have created complex monitoring systems that require extensive manpower to manage. Enter Blockchain technology.
CyberCar, the Colorado-based IoT car security firm, is putting their knowledge of Blockchain technology to work in helping monitor the medical marijuana industry by providing solutions for tracking and maintaining standards in delivery systems.
The company has partnered with WebJoint, a software-as-a-service (SaaS) company designed to help marijuana companies track patient verification and control online stores and points of sale.
With CyberCar’s Blockchain monitoring system, WebJoint will now be able to offer end to end tracking of delivery vehicles and drivers automatically. CEO Chris Dell’Olio said,
"Compliance reporting has always been the largest hurdle for the cannabis industry. With CyberCar embedded in our solution, we are able to totally automate all municipal and state reporting requirements.”
Bitcoin
As we recently reported, US Multidisciplinary Association for Psychedelic Studies has started accepting Bitcoin donations, which provided a further boost for the cryptocurrency from the marijuana industry.
As companies realize the profound power of Blockchain, solutions within different industries promise to continue to proliferate.