Quannabu, a blockchain-based firm, is seeking to solve issues with the Marijuana supply chain. According to the firm, the Marijuana industry has been scattered thus making the supply chain more challenging for both suppliers and customers. However, through blockchain technology, the Marijuana industry particularly medical Marijuana could significantly benefit by reducing friction on the supply chain.
Quannabu advertises Marijuana as one of the safest plants since it contains healing properties that have been tested for centuries. The demand for Cannabidiol (CBD) has over the years experienced a sharp uptick, especially in the health industry. Reportedly, Cannabidiol (CBD) industry is expected to scale further in the coming years, thanks to the legalization of Marijuana by different countries and territories. “It is valued at USD 2.8 billion in 2020, with revenues expected to reach $13.4 billion by 2028,” Quannabu noted in a press release.
Through blockchain technology, Quannabu anticipates revolutionizing the Marijuana industry by eliminating the need for middleman more so centralized trusts. Notably, both the buyer and the seller can thrive in blockchain technology since the level of transparency is unquestionable.
Besides, Quannabu promises to revolutionize the Marijuana industry by implementing the Source Information Tracing feature. This is to ensure the quality of the product is top-notch consistently. The company also anticipates enrolling in a new payment solution that entails blockchain and cryptocurrencies. As a result, the company will have eliminated the need for a central institution to process payments, which is a critical aspect of the industry.
Quannabu also anticipates implementing a ‘supply chain monitoring’ feature in the Marijuana industry. In the process, the company will also involve detailing Certified Test results to ensure an acceptable quality of the delivered products.
To help solve all these issues in the Marijuana industry, Quannabu has developed four integral platforms. The first one is the ‘The Quannabu Trust’, which was developed to cultivate trust and transparency in the CBD supply chain. The second integral platform is the ‘The Quannabu Labs’ that involves providing custom laboratories to test and provide assurance certificates.
The third integral platform built by the company is the ‘The Quannabu Pay’, which is entitled with the role of providing a secure and scalable payment solution. The last integral platform built to modernize the Marijuana industry Quannabu is the ‘The Quannabu Grow’. As for The Quannabu Grow platform, it is intended to ensure rapid growth and adoption by having its own farm.