Cannabis and blockchain often draw comparisons for the wild volatility they bring to markets, but one company is attempting to show that a combination of the two can provide a measure of stability for consumers.
Vancouver-based Blockstrain Technology Corp. uses blockchain to verify cannabis genetics and assure consumers that they’re getting what they think they’re getting. The Canadian company announced its first foray into the U.S. Tuesday, signing a letter of intent with Los Angeles-based NXT Water LLC to develop and launch Akeso Functional Fitness Water, a CBD-infused drink that markets itself as the “first-ever fully transparent beverage.”
CBD, which stands for cannabidiol, is burgeoning in popularity after the U.S. farm bill legalized a hemp-derived version of the non-intoxicating extract last month. But the U.S. CBD market has been overrun with low-quality products from unverifiable sources, according to Blockstrain Chief Executive Officer Robert Galarza.
