As the cannabis market evolved into a highly regulated and respected industry, consumers and brokers have started to question the legitimacy of certain breeds of cannabis strains and their origins. Quality of marijuana-related products has become an important factor in their pricing and reputation of weed growers and dealers.
“The Bitcoin Blockchain has been going since 2009 and it’s security is in its proof of work. If you're dealing with customers' intellectual property and you're putting it in some side chain that you're supporting,and if your network goes down and you don't manage that well, then you've let them all down.”
For unregistered brokers and unreputable growers, the ambiguity in awareness of cannabis types, genomes and origins can be used to their advantage. Registered labs and reliable distributors however take great pride in the quality of their cannabis strains and products.
Kevin McKernan, Medicinal Gemonics’ chief science officer, emphasized the importance of using the Bitcoin Blockchain as the basis of the repository, due to its unprecedented security levels and innovative built-in technologies.
As a solution, Medicinal Genomics has developed a Bitcoin Blockchain-based weed depository with which weed growers can register their cannabis strains with genomic data while users, brokers and consumers can verify the strain by referring to the public irrefutable ledger of Bitcoin.
Over the past few years, the growth of the cannabis industry has rapidly increased as an increasing number of states and countries have begun to legalize the usage of medicinal and recreational marijuana. As such, more cannabis brokers, dealers and labs have entered the industry to serve the fast-growing market.
Because of this growth, labs and researchers are continuing to test and breed new strains of cannabis on a daily basis. Thus, it has become increasingly difficult for consumers to evaluate and analyze the type of cannabis strains and marijuana-related products that they’ve purchased.
The Bitcoin Blockchain is by far the most secure and tested distributed network in the fields of cryptography and digital currencies, mostly due to its prioritization of security over flexibility and functionality. Weed growers have begun to take advantage of Bitcoin’s advanced security measures to create an unalterable repository of cannabis genomes.
At the moment, it is virtually impossible for an average user or a consumer to verify the origins and type of a cannabis strain without undergoing an extensive lab test. For inexperienced users, it is difficult to recognize certain type of cannabis.
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