One distinct advantage of blockchain technology is the transparency it brings to the world. No wonder then that some projects are banking on this innovation to promote trust in the medical cannabis industry.
Decentralized storage of cannabis distribution chain data may add immense value and transparency to the medical marijuana industry. For now, centralized organizations and authorities retain control over the relevant data, which makes it vulnerable to significant manipulation. The current arrangement also delays the adoption of cannabis treatments and holds back research.
In steps Nuvus Blockchain – a project that can provide a tool for transparency and trust in the medical industry. It will also ensure the patient receives the right product of the highest quality.
“Our mission involves introducing a trustless verification system on all supply chain transactions in the cannabis industry, providing growers, processors, distributors, retailers, doctors and users full transparency into the supply chain, from seed to user distribution, with decentralized blockchain verification at every step”, comments Sam Talari, founder and board member of Nuvus Blockchain and Blockchain Ventures Corp.
“This will provide transparency on the type, potency and potential benefits of different strains and their effects on the human body, adding significant value to the commodity across uses, research, and industries, some of which are likely not yet defined,” he added.
Nuvus Blockchain is designed to create an ecosystem called “Global Exchange Platform” for data and supply chain verification. It will do so by employing blockchain technology and a trustless ledger for the agricultural industry, with an initial focus on the cannabis market.
With this platform, the whole medical community, including patients, doctors, researchers, and regulators, can be sure that they are buying a legitimate product from a trusted producer.
Nuvus ICO details
Nuvus launched their token sale on February 8, 2018, and it will last for 60 days. Both BTC and ETH are accepted and the crowdfunding will stop upon receipt of 39,000 ETH or $35 million. If the soft cap is reached before the end of 60 days, additional contributions will be accepted for 120 hours in case some participants missed out.
If you’re interested in the Nuvus ICO, you can visit the official website or follow them on Twitter and Telegram for updates.
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