MERRY JANE: Can you tell us about your background and involvement in Paragon?
Jessica VerSteeg: I started Paragon because I had another cannabis company Au Box, a medical marijuana subscription service in San Francisco. I’d get phone calls from mothers and fathers of children with epilepsy, asking if it’s really CBD; “Is it really 90 percent CBD?” I said, “Yeah, that’s what the lab results say on this paper.” So I started re-testing products.
I started logging the data from the suppliers, and then would backtrace it to what labs they tested it at.
So what are the main uses for Paragon now?
Paragon is a really big ecosystem. Currently we are working hard to finalize our blockchain solutions and intend to start pilots on the technology very soon. The main part is going to be a farmer, a lab, and a supplier. Once all three of those [positions] work together on our blockchain, they can verify each step so that labs can say , “Yes, we tested this farmer’s crop and here’s the result,” and verify what farmer wrote in the blockchain. Where the supplier comes in, the lab results and growing data go on the product.
The same way that UPS would track anything, on blockchain you can track and verify when the signature was made, and when the product was delivered. If Kiva is using our blockchain and has a QR code, the dispensary now doesn’t have to retest this product or trust that piece of paper. You can just scan the QR code and see the lab data, growing data, [and] know if this is a product you can sell or not sell. Paragon is dedicated to staying compliant with all aspects of the laws. Paragon holds itself to a high standard of compliance with token holders.
Do you think Paragon’s business model presents risks to investors?
We don’t have investors at Pargaon.
What makes you confident in your vision for applying blockchain to the cannabis industry?
It was something that was actually needed by me.