The Cannabis tracking and verification company, Trace, recently announced that they’ve got a patent for their software for CBD products. The CBD supply chain deals with medicines. The blockchain platform of Trace enables cannabis processors to upload bulk data and helps in improving the supply chain as well as the efficiency of cannabis processors.
With the help of this software, the company can track all its products in the supply chain. It can track from manufacturing to delivering the product to the customers. It can be a great platform with a shared database between businesses and regulators.
The CEO of Trace, Josh Decatur, said that the software helps hemp growers in tracking the complete harvest process from soil to shelf. It helps in building the relations between the buyers and the sellers.
There is no chance of human error in handling the data. This system makes the supply chain reliable. The software allows in scanning the QR code of any hemp product and provides all the information about it.
The VSECU Director of Business Lending and Services, Greg Huysman, said that the Trace system helps in innovating and solving the problems of emerging industries. It also improves economic growth. The hemp industry is a well-known economic driver in the state, and Trace will help the entrepreneurs to participate in the arena without any risk.
The co-founder of Vermont Farmacy, Erin Nohl, said that it is a benefit to track the entire process from seed to sale. Trace Exchange is a reliable platform for farmers, buyers, and consumers to access every detail.
Decatur said that he is planning to have an application on Apple’s store and become the first government contract company by the end of 2019. Soon, Trace will become an industry standard for every person in hemp. Trace is a beginning point for people to make their product compliant.