Already worth millions of dollars in sales, the CBD sector is moving forward at quite a brisk pace. The hemp extract has captured the attention of the medical, health, and wellness communities, with thousands of CBD products available on the shelves. However, the sector hasn’t been adequately regulated yet, resulting in a pattern of low quality and contaminated CBD products being sold to unsuspecting consumers.
“The most important thing in the world is that people know what they’re putting into their body, and this has never been done before with CBD or THC,” says Danny Davis, a cannabis entrepreneur and founder/CEO of Origin Labs, Inc.
“If there were any industry that needs more transparency, clarity, education, and the ability to demonstrate authenticity, it is cannabis and CBD,” he adds.
His company recently rolled out a line of CBD products dubbed PearlCBD offering four flagship products including a lotion, cream, oil tincture, and capsules. However, PearlCBD’s main draw is its labeling. Origin Labs embedded NFC tags in the products’ labels that gives consumers access to the product’s manufacturing information.
Once you tap your mobile phone on the product’s label, you’ll receive a text message prompt asking you whether you want to ‘enable the PearlCBD experience.’ A yes response will be followed by another prompt verifying the product is an Origin Labs product and its batch number. Then you will be granted access to both third party and in-house cloud-based scientific test results and additional educational content about CBD.
“The patent-pending technology powering PearlCBD will set a much-needed standard in not only the CBD sector, but the entire cannabis space,” says Chris Hollod, PearlCBD Advisor, Angel Investor, and Venture Capitalist.
The Origin Labs CEO founded another company in 2018 called Convectium, a cannabis tech company that pioneered technology for filling and capping systems for vaping cartridges. “We were the first company to have heavy metal testing done on our cartridges. We wanted people not to be putting bad stuff in their bodies,” he says.
He believes that this is just the beginning for NFC tagging in cannabis and agriculture in general. He expects to license the technology to other CBD companies looking for a way to provide consumers with manufacturing information for transparency.
“We are poised to be at the forefront of standardization if and when regulation makes its way to the CBD industry. We will also leverage the tech within the THC space and eventually a greater play into agriculture and beyond.”
Analysts expect established CBD companies like HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF) to welcome this technology since it will help to boost the credibility of the entire industry.
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