IBM is promoting the use of blockchain technology in the legal distribution of cannabis.
The feedback was issued as the Canadian province prepares a regulatory framework for a legalized cannabis industry. According to official statements, the province plans to make non-medical cannabis legal by July 2018.
Describing the technology's key features, including its transparency and immutability, IBM noted that blockchain would assure the health and safety of consumers through "provenance and traceability" of products throughout the cannabis supply chain, thus eliminating fraud.
The document added:
On a concluding note, IBM stated that blockchain could help the provincial government "take control" of product sourcing and sales, thus helping eliminate black market sales "completely."
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