Greenblock is a blockchain based data ecosystem for the global hemp & cannabis industry.
The hemp and cannabis industries are on the verge of a massive transition. In recent decades, nearly every agricultural industry has used data to drive efficiency and innovation.
Greenblock is a traceability blockchain program.
Greenblock will launch the GBK cryptocurrency in Q4 2018, along with the Greenblock Traceability Blockchain and Application in Q3 2019.
The blockchain will include personal virtual assistance for the management of hemp and cannabis related businesses, as well as provide traceability for each plant, from seed to finished product.
The growing regulation under Prop.64 requires serial numbers and RFID tags that will be assigned to each batch of young plants, as individual plants are tagged later in the process. This database will give the state real time monitoring of inventory at all locations. Each product number holds product information linked to an internet file that contains information such as: strain, propagation method, location, intended use, and quantities of plants at each stage. This will require tagging thousands of plants a year. Included in the track and trace system are purity results from cannabis testing labs, which screen for pesticides and toxins.
Hosting the track and trace database thru the blockchain guaranties transparency, speed of sending data and values, decentralization and security. This advantage comes in part by blockchain owning, and the use of open source codes, which means that developers can track and understand, audit and even suggest improvements in these blockchain.
The Greenblock Ecosystem creates a mechanism for rewarding hemp and cannabis producers along with supply chain intermediaries, through micro-transactions, thus creating a virtuous cycle for sustainable practices that extends beyond government mandates for traceability. Greenblock tokens are not meant to be a currency for trading hemp and cannabis. Instead, Greenblock tokens provide a mechanism for incentivizing data capture and transmission in various forms. Incentivizing data capture within Supply Chains by creating the appropriate reward structure for data capture within an interoperable platform, the Greenblock Ecosystem will allow for makers of third party tools such as Internet of Things (IOT), sensors and other data inputs, to participate in the ecosystem and be rewarded accordingly. This will drive more data feeds into the ecosystem and ultimately allow hemp and cannabis buyers to have a better understanding of the actual metrics that impact safety and quality, including, but not limited to: conditions from harvest to consumption, and pesticide and toxins screening. The result will be hemp and cannabis buyers having the right quantity and quality of information to make better decisions, governments being better able to manage the industry using up to date data, and producers/intermediaries being rewarded for data capture and responsible behavior. The importance of understanding real trade is that, while there are other blockchain based traceability platforms that have emerged to address the very real supply chain problems that span industries, the hemp and cannabis industry, has unique needs that can only be addressed by those with insider knowledge based on the realities of actual trade. This is where the Greenblock team is uniquely qualified to design and develop the Greenblock Ecosystem because of their decades of experience advising and trading in the hemp and cannabis industry.
This ongoing trade serves as a model and use case for a range of technologies developed and used by the Greenblock team and their partners. Below are some examples of these technologies:
- Plan Protection Forecast and Prognosis.
- Spray Drift Warning.
- Frost Warning.
- Storage Monitoring with Warning Function.