Indopedia All Things Marijuana
As Canada moves closer to legalizing recreational cannabis use and sales across the entire country, a new proposal from one of the world’s most ubiquitous technology companies would have the Great White North embrace blockchain, a decentralized data and transaction management system which was brought to the cultural forefront by the popular cryptocurrency Bitcoin.
According to a report from IBM released last week, the global technology corporation is consulting for the Government of British Columbia as the state “prepares its regulatory framework in support of the legal distribution of cannabis and cannabis by-products,” offering suggestions for how the province home to some 4.6 million residents could best implement the highly anticipated end of marijuana prohibition.
In the company’s first recommendation, IBM proposes that blockchain technology could enable an entirely transparent, tamper-proof system to track B.C.’s bud “from seed to sale.”
“Blockchain is rapidly becoming a world leading technology enabling the assured exchange of value in both digital and tangible assets, while protecting privacy and eliminating fraud,” the IBM report explains….
