CBD, Italy & Blockchain usage
The CBD / Cannabis industry in Italy, and worldwide is ready for mass blockchain adoption.
There have been plenty of cases where contaminants have got into peoples vaping, smoking, or CBD oil products. Especially in the current, extremely health aware, risk avoiding culture, anything that can bring confidence to the consumer has got to be a good thing.
Blockchain is seeing more and more adoption in the food and drug industries:
Bordighera Valleys are intent on bringing that transparent operating mode to the Cannabis Industry in Italy.
Everybody from the ground up including breeders with new genetics to the final user wanting to know that their product is safe will benefit.
Think of the Blockchain like a digital ledger—, but one that contains a series of unchangeable records.
A blockchain contains packets of information called blocks. These blocks are connected in a chronological order to form a chain. These store a huge range of product-specific and/or transactional information. This can include the time and date for when actions occur, the origin information for the product and things that have happened to the item along the way, such as processing or combining with other products.
For a Company such as ours, whose reputation stands or falls on the fact that we are a farm to user outfit, This process ensures important information cannot be altered from either an intentional standpoint, such as a forgery, or an unintentional action such as an error.
Let us examine some of these benefits in more detail.
1. Real-time traceability. We have already mentioned security, but another factor is the speed of a blockchain. You can instantly interrogate the chain and have access to product’s full history, including present and past locations in the supply chain.
2. Efficiency and overhead cost management. A significant proportion of the costs involved in Cannabis production is backroom / stockroom warehousing and dispatch management. It is proven that introducing a blockchain management system significantly reduces these costs.
3. Consumer confidence in product validation. In a world full of white labelled CBD products, instilling confidence in your customer that they really are getting that beautiful Italian CBD Oil grown on a mountainside and not some industrial hemp extract from the US. Will keep prices stable and customers happy.
Blockchain will allow us as a company to reinvest profits back into research and development, knowing that the end user will benefit from all our hardwork – by stopping fraudulent duplicates of the Bordighera Valleys products.
4. Compliance with the Law. By allowing Governing bodies access to our Blockchain that will have our lab test reports locked in, we will create confidence in the export market that our Oil is legal in the destination Country, and should lower shipping times as Customs officials can quickly check on the legal status of any import. It will also allow an end user to quickly disclose the contents of a bottle in any situation that they deem this necessary.
5. Consumer confidence. It is our hope that we will instil brand loyalty as we bring this on-stream. Any Company that will go to these lengths to provide open and honest information on the quality of our products is hopefully worth supporting in the long run.