Gary Heitz, COO & Co-FounderThe cannabis industry is riding a surge of popularity both across the United States and the globe. But as the legalization of both medicinal and recreational marijuana spreads at a rapid pace–overwhelmingly by victories at ballot boxes—federal, regional and local lawmakers/regulators are scrambling to establish legal paramaters for an industry that is growning so fast, they can barely keep up.
The ideal solution for this quandary is a blockchain application offering regulators full transparency over the entire cannabis supply chain, from seed-to-sale, and everything in between.
This is one of many game-changing benefits the Budbo blockchain platform offers.
“Budbo utilizes the immutable ledger of blockchain for the transparent, standardized, and regulated interaction between cannabis users, dispensaries, and supply chain professionals,” says Budbo President and Co-Founder Luke Patterson. “The company has designed a blockchain-based application that allows real-time tracking of cannabis shipments. Each step of the supply chain is recorded within the ledger, allowing a seamless transfer of goods from the cultivators, labs, manufacturers, dispensaries, and finally to the patient.”
Patterson adds that Budbo is now utilizing patented technology as an underlying feature of its BUDBO TRAX platform.
The Budbo team says its fully established and adopted platform not only makes businesses easier, safer, and more efficient to operate, but also legitimizes the industry as a whole.
“We are the first cannabis company to use blockchain to tackle the transparency, regulations, and compliance facets of the supply chain management and logistics tracking for medicinal cannabis and cannabidiol (CBD),” says Jacob Patterson, Co-Founder and CTO of Budbo Token International.
Budbo facilitates unprecedented tracking of products in compliance with local, state, and federal government laws
He believes cannabis is meant to be shared - and so is blockchain.
The Budbo mobile application allows customers to create profiles based on their preferences and view relevant product matches, more accurate product information, and product recommendations.
On the other side of the counter, the application provides real-time GPS tracking and a wealth of business intelligence and predictive analytics for cannabis-related businesses, facilitating the flow of products between cultivators, manufacturers, retailers, and the end users seamlessly. With the “puff or pass” feature of the mobile application, Budbo helps cultivators plan their crops, manufacturers develop products, and retailers stock their shelves based on user preferences. The custom API and analytics allows users to gain valuable insights to make informed business decisions in terms of which cannabis products to offer.
“Right now we are working on government contracts in the regulation and compliance fields across the globe,” says Gary Heitz, Budbo Co-Founder and COO. “Already we are locking in strategic partnerships to retain our prominent position in the market, and we’ll continue to expand internationally to the growing number of cannabis-friendly countries.”
By creating a data backbone for the global marijuana industry, Budbo says it allows all parties in the cannabis industry to replicate effective processes and provide high-quality products. Importantly, it provides regulators a clear window into an industry that wants to behave–and be treated–as legitimate, tax-paying entities.