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Uruguay sets new precedent: cannabis tracking via blockchain

Uruguay sets example with cannabis tracking via blockchain

Aeternity, blockchain-focused decentralized application (DApp) will now enable cannabis tracking via blockchain and help track the movements of recreational and medical cannabis of Uruguay Can. The company is based out of Montevideo and is well known the world over for its safe marijuana products.

On September 25, Aeternity released an official statement about its latest blockchain-based technology featuring DApps and ‘Internet of Things’ that will power its entire network. Aeternity aims to not only secure the shipments but also save significant money in delivery networks using blockchain technology.

Aeternity trusts blockchain for consumer security and safety

Pablo Coirolo, Chief Executive Officer (CEO) of Aeternity Americas goes on to say that the company aims to emerge as a leader in creating enterprise-grade solutions by partnering with cannabis producers, supply chain distributors, blockchain providers, and cannabis processing firms. Aeternity wishes to create a comprehensive technical solution for cannabis production and distribution cycle starting from seed planting right up till the final sale.

The supply chain tracking further helps in safe consumption that is compliant with all the local regulations. This wholesome blockchain surveillance is sure to set industry benchmarks in the coming years.

Cannabis tracking via blockchain is another feather in Uruguay’s cap

When it comes to being responsible for cannabis production, regulation, and distribution, Uruguay has emerged as a responsible country by enabling cannabis tracking via blockchain. When it first legalized the manufacture, sale, distribution, and consumption of Cannabis in the country in December 2013, there were doubts about its efficacy. However, over the years, the country has shown significant progress.

The new management solution based on blockchain will kick in October this year. The country aims to achieve full implementation of the system by mid-2021.

Eduardo Blasina, CEO of Uruguay Can add that Uruguay is proud to achieve this feat as it reflects the transparency in its cannabis production and distribution. Consumers can now trace the origins of their product which will benefit both the cannabis community and the pharmaceutical industry. The credibility quotient of products will increase amongst the consumers.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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