California Cannabis Grower Using Blockchain For Tracking
A cannabis nursery located in California has used blockchain technology and smart contracts in order to confirm the genuineness of the therapeutic plants they sell.
The cannabis nursery, which goes by the name Mendocino Clone Company, was given its moniker on January 13 in a statement about a cooperation between the EMTRI project and the technology company Global Compliance Applications.
To issue a batch certificate for each and every clone, also known as a baby plant, it will be necessary to make use of the capabilities offered by the blockchain project. Nurseries are businesses that focus on plant genetics and produce clones, young plants, and seeds for the purpose of wholesale distribution of cannabis. Nurseries may also be referred to as seed banks.
As a result of this decision, the nursery is now in a position to record the starting stages of a cannabis plant’s path to become a premium product for customers depending on the gram weight it blossoms, as the company said in a statement. Each clone batch has its own unique batch certificate, which functions as a self-generating smart contract. It does so by providing each young plant with its very own “unique identification block,” which is generated by the nursery and connected to the blockchain that it operates on using Ethereum.
It was noted that its customers, who include retail dispensaries and commercial farms, may utilize this to check the genetic history of their clones and determine whether or not their clones are real. Beginning the first week of February, a first round of batch certificate clones will be made accessible to the public.
Additionally, licensed farmers that acquire Mendocino clones will gain access to EMTRI token (EMT) awards and higher rates for engaging in the blockchain project. These benefits will be awarded to licensed cultivators who participate in the blockchain project.
In November of 2022, EMT was introduced as a means of providing incentives to project participants. The tokens may be staked for further dividends or exchanged on Uniswap for US Dollar Coins (USDC).
However, the idea of combining cryptocurrency with cannabis is not a novel one.
Cannaland, a cannabis-oriented Metaverse project, was initiated in November with the intention of developing a virtual environment catering to cannabis consumers and advocates. A bespoke pipe manufacturer produced tokenized bongs in January 2022, and celebrities such as Snoop Dogg and Santana were among the early adopters of the NFTs.