Greenblock is a blockchain based data ecosystem for the global hemp & cannabis industry. The hemp and cannabis industries are on the verge of a massive transition. In recent decades, nearly every agricultural industry has used data to drive efficiency and innovation. Greenblock is a traceability blockchain program. Greenblock will launch the GBK cryptocurrency in Q4 2018, along with the Greenblock Traceability Blockchain and Application in Q3 2019. The blockchain will include personal virtual assistance for the management of hemp and cannabis related businesses, as well as provide traceability for each plant, from seed to finished product. The growing regulation under Prop.64 requires serial numbers and RFID tags that will be assigned to each batch of young plants, as individual plants are tagged later in the process. This database will give the state real time monitoring of inventory at all locations. Each product number holds product information linked to an internet file that contains information such as: strain, propagation method, location, intended use, and quantities of plants at each stage. This will require tagging thousands of plants a year. Included in the track and trace system are purity results from cannabis testing labs, which screen for pesticides and toxins. Hosting the track and trace database thru the blockchain guaranties transparency, speed of sending data and values, decentralization and security. This advantage comes in part by blockchain owning, and the use of open source codes, which means that developers can track and understand, audit and even suggest improvements in these blockchain.
Blockchain Environment As more companies explore possibilities, it has become clear that blockchain represents an opportunity to efficiently manage supply chain data across a complex network from farmers, to distributors, processors, retailers, regulators, and consumers. With the promise of amplifying traceability, blockchains record specific information about products as they move throughout the supply chain. Although industry analysists say blockchain is still very much in its infancy, now is the time for companies to educate themselves on blockchain benefits and how it can lead to vast improvements in efficiency and security in the supply chain. Blockchain = Shared Database Blockchain was first used with Bitcoin: a digital currency operating independently of a central bank. The blockchain technology that underpins Bitcoin is proving to offer valuable benefits to use, even in cases outside of the financial world. Casting the catchy buzzword aside, blockchain at its core is a shared database. Many industry veterans already know that shared databases have benefits, but what makes blockchain special is that it is a distributed ledger. There is no single point of failure in a distributed ledger; it is a consensus of replicated, shared, and synchronized digital data that is geographically spread across multiple sites. This decentralized structure makes the data resilient to a technology or organizational failure. This, in theory, could significantly change the way companies access and store important documents and transactional histories. For instance, in developing countries, where paper documents can be destroyed in a natural disaster, or electronic copies can be lost in unstable economic conditions, blockchain represents a huge opportunity for consistency and accessibility. For the past few years, technology providers like IBM and Microsoft have been focusing on taking blockchain from being a public ledger to an enterprise solution designed to solve supply chain problems. Enterprise blockchains are decentralized in nature, meaning there is no one central point to hack. This allows support on multiple levels from the permissions of robust security around the world who can write to and read from the ledger.
Greenblock Blockchain Traceability Greenblock is A Blockchain Based Data Ecosystem for the Global Hemp and Cannabis Industry The hemp and cannabis industries are on the verge of a massive transition. In recent decades, almost every agricultural industry has used data to drive efficiency and innovation. Blockchain Based Traceability for Hemp and Cannabis Industries To address the needs of the many stakeholders involved such as growers, processors, retailers, consumers, exporters, and government, the hemp and cannabis industry needs an interoperable system that provides the appropriate data for each respective entity in a way that is trusted, transparent, and secure. Blockchain presents an ideal solution for many of these challenges, while a token ecosystem solves the essential challenge of creating appropriate incentives for those making the extra effort to capture data. Greenblock Ecosystem The Greenblock Ecosystem creates a mechanism for rewarding hemp and cannabis producers along with supply chain intermediaries, through micro-transactions, thus creating a virtuous cycle for sustainable practices that extends beyond government mandates for traceability. Greenblock tokens are not meant to be a currency for trading hemp and cannabis. Instead, Greenblock tokens provide a mechanism for incentivizing data capture and transmission in various forms. Incentivizing data capture within Supply Chains by creating the appropriate reward structure for data capture within an interoperable platform, the Greenblock Ecosystem will allow for makers of third party tools such as Internet of Things (IOT), sensors and other data inputs, to participate in the ecosystem and be rewarded accordingly. This will drive more data feeds into the ecosystem and ultimately allow hemp and cannabis buyers to have a better understanding of the actual metrics that impact safety and quality, including, but not limited to: conditions from harvest to consumption, and pesticide and toxins screening. The result will be hemp and cannabis buyers having the right quantity and quality of information to make better decisions, governments being better able to manage the industry using up to date data, and producers/intermediaries being rewarded for data capture and responsible behavior. The importance of understanding real trade is that, while there are other blockchain based traceability platforms that have emerged to address the very real supply chain problems that span industries, the hemp and cannabis industry, has unique needs that can only be addressed by those with insider knowledge based on the realities of actual trade.
This isĀ where the Greenblock team is uniquely qualified to design and develop the Greenblock Ecosystem because of their decades of experience advising and trading in the hemp and cannabis industry. This ongoing trade serves as a model and use case for a range of technologies developed and used by the Greenblock team and their partners. Below are some examples of these technologies:
- Plan Protection Forecast and Prognosis.
- Spray Drift Warning.
- Frost Warning.
- Storage Monitoring with Warning Function.