Today we are taking a look at Canada’s decision to allow for 100% legal use of cannabis.
BLOCKStrain Technology Corp. (DNAX) is a company that has significantly benefitted from this public policy decision. In this article, we will be taking a look at this company from the perspective of a potential investor; taking a closer look at its business model and other relevant details.
BLOCKStrain Technology Corp. (DNAX)
Developer of the First Integrated Blockchain platform that registers and tracks intellectual property for the “Cannabis” industry.
The Vision of the Company:
A new cannabis industry is emerging, and using the power of Blockchain, BLOCKStrain has developed the most comprehensive, community-driven cannabis genetics archival platform dedicated to making it safe and conformable for breeders and growers, large and small, to protect and release their varieties into the public domain, all while being compensated and rewarded.
Latest Press Releases:
July 18, 2018: Blockstrain Partners with Spire Secure Logistics to bring Proprietary ‘Genome to Sale’ Technology to Governments
- BLOCKStrain and Spire have agreed to collaborate on the design and implementation of security programs and infrastructure for the legal distribution and sale of cannabis.
- This strategic partnership is being launched with the intent to integrate the benefits of the BLOCKStrain platform into the regulatory framework for medical and adult-use cannabis in Canada.
- Earlier this week, as the 100-day legal-cannabis clock officially began counting down to Oct. 17, Tommy Stephenson, BLOCKStrain’s Chief Technology Officer, revealed that his development team has finalized major features, including the “Network & Collaboration” component, which is a central technology for all parties throughout the cannabis chain of custody.
- Stephenson also announced that BLOCKStrain’s product team has assembled a concise on-boarding package and documentation to help jumpstart Licensed Producers (LPs) and testing partners to begin implementation of BLOCKStrain’s integrated end-to-end cannabis tracking system.
June 19, 2018: Blockstrain to ring the bell at the Toronto Stock Exchange
- BLOCKStrain is a young technology company that has developed the world’s first ‘gene to sale’ tracking system that utilizes the benefits of blockchain to empower supply-chain visibility and product verification.
- All data entered into this ecosystem is protected by an immutable blockchain ledger and interconnected with a sophisticated enterprise software platform that empowers the industry with actionable data.
- The system is already being deployed at WeedMD, a leading Licensed Producer of cannabis in Canada.
- The Company has also signed a strategic partnership with cannabis technology innovator Abbatis Bioceuticals.
- BLOCKStrain and NG Biomed this week signed a Letter of Intent for the adoption of the BLOCKStrain software platform at NG Biomed’s production facility in British Columbia, Canada.
- NG Biomed is a late-stage applicant to become a licensed producer under the Access to Cannabis for Medical Purposes Regulations in Canada.
Key Asset of the business
The cannabis plant is the key asset with superiority based on factors such as:
- Yield of seed
- Cannabinoid content
- Response to regional or cultivation environments
- Growth characteristics
- Flavor and aroma through terpine profiles
Characteristics of BLOCKStrain
Cannabis Integration Ecosystem
Canadian Medical Marijuana Producers & Dispensaries
Applications as of February 5, 2018
- 1,630 Received
- 265 Refused
- 69 Withdrawn
- 841 Incomplete (returned)
- 414 In Progress
Licenses are only issued once all regulatory requirements are met.
Each application undergoes a detailed assessment, including in-depth security checks led by the RCMP and site inspections. Health Canada conducts compliance and monitoring activities of regulated parties to ensure compliance with the various regulations of the Controlled Drugs and Substances Act (CDSA). These activities include education, complaint investigations and inspecting licensed sites, or sites applying to be licensed to conduct regulated activities.