OVERVIEW 

Chain Business Insights' new eBook titled Blockchain in Legal Cannabis: Weeding Out Supply Chain Inefficiencies by Co-founder and Research Principal, Sherree DeCovny analyzes the cannabis market and the legal and structural issues that impede operational performance. The eBook’s primary focus is on the U.S., where illegality at the federal level prohibits interstate commerce, therefore causing an imbalance between supply and demand across the country.

Worldwide spending on legal cannabis is growing rapidly, but the market will not realize its full potential without efficient supply chains to deliver an expanding array of products. Blockchain technology could address this issue by providing greater visibility, traceability and transparency as well as facilitating regulatory compliance.

The new eBook details existing and emerging blockchain solutions, and examines blockchain’s potential role in the industry. A case study shows how blockchain technology in combination with other innovations is being used by a leading player in California to develop an efficient, end-to-end supply chain for cannabis products.  

A Look Inside

Chain Business Insights presented on blockchain in the legal cannabis supply chain at SXSW

On March 15th at SXSW2019 in Austin, Texas Chain Business Insights Co-founder Sherree DeCovny and California Cannabis Market CEO Jess Jessop discussed how blockchain can achieve operational efficiency and lead to normalization in the cannabis industry. Key topics included how the technology can improve track and trace capabilities, increase supply chain visibility and reduce friction, facilitate payment processing, enable regulatory compliance and enhance consumer protection. 

Additionally, they discussed how data from IoT sensors, Radio Frequency Identification (RFID) chips, QR codes and bar codes can be linked to the blockchain to further improve efficiency. Finally, they talked about how cannabis consumers can benefit from the application of these technologies, and what other industries can learn from the cannabis industry’s experience. A recording of the panel will be made available shortly. Until then, you can see a copy of the slide presentation here.

SXSW Presentation Slides