Budbo hopes to be the backbone of Canada's burgeoning sector
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A firm in California hopes to combine two of the hottest growing sectors – blockchain and cannabis.
Budbo wants to be the infrastructure which the North American cannabis industry, driven by Canada’s expected legalized market, will use as its secure ecosystem.
"Imagine, if you will, the entire cannabis industry as a decentralized autonomous organization," says Luke Patterson, President and Co-Founder of Budbo. "A patient's identification and medication regimen will be encrypted and safely stored within the ledger of a blockchain. The smart contract enables the safe transfer of goods through verifiable proof-of-pickup, bill of lading, and proof of delivery. Medical testing of cannabis potency is verified and immutable as the product is moved from lab to dispensary."
The firm will begin a public sale of tokens in January which will be used to access the blockchain platform.
More than 13 million tokens have been sold in the pre-sale period which began in November.
Several influential and innovative leaders in the cannabis and blockchain fields have joined Budbo as advisors, including Randal Crowder, Co-Founder of TEXO Ventures, an investment firm that focuses on tech-enabled companies leveraging blockchain technology, Michael Hodges, Co-Founder of Online Blockchain PLC and a software developer with over 30 years experience, and John David Carrasco, CEO of CannLiv, a producer of cannabis products and a driver of progressive cannabis cryptocurrency solutions, among others.
Budbo wants to be the infrastructure which the North American cannabis industry, driven by Canada’s expected legalized market, will use as its secure ecosystem.
"Imagine, if you will, the entire cannabis industry as a decentralized autonomous organization," says Luke Patterson, President and Co-Founder of Budbo. "A patient's identification and medication regimen will be encrypted and safely stored within the ledger of a blockchain. The smart contract enables the safe transfer of goods through verifiable proof-of-pickup, bill of lading, and proof of delivery. Medical testing of cannabis potency is verified and immutable as the product is moved from lab to dispensary."
The firm will begin a public sale of tokens in January which will be used to access the blockchain platform.
More than 13 million tokens have been sold in the pre-sale period which began in November.
Several influential and innovative leaders in the cannabis and blockchain fields have joined Budbo as advisors, including Randal Crowder, Co-Founder of TEXO Ventures, an investment firm that focuses on tech-enabled companies leveraging blockchain technology, Michael Hodges, Co-Founder of Online Blockchain PLC and a software developer with over 30 years experience, and John David Carrasco, CEO of CannLiv, a producer of cannabis products and a driver of progressive cannabis cryptocurrency solutions, among others.
