It is usually hard to get a patent for software, but a Vermont-based company has registered this feat and now its patented software will be offered to hemp and CBD industry players that wish to ensure absolute traceability for their products.
Trace, the software company that is yet to make two-years in existence, already has 150 farmers within four states who have registered to use the quality-tracking software made by the company. An Apple version of the app will hit the Apple Store in a few weeks, and Josh Decatur, the co-founder of the company, is confident that they will win a government contract before this year comes to an end.
The ultimate aim of Trace is to create a database for the entire hemp and CBD industry so that all commercial products on the market can be verified from this one point.
The owners of the company dream of a day when a consumer will be able to scan a CBD product in a retail store and learn everything about that product, including how big the farm on which the hemp used was grown.
They also want to increase their traceability software’s reach to the extent that it will be the gold-standard for the entire industry. What they are looking at is getting to a point where buyers ask for Trace verification in the same way that consumers look at USDA organic certification as a reliable way of trusting that a product is indeed organic.
Decatur has a history of working in the marijuana industry in California and he has a firsthand experience of how chaotic traceability systems can be if some players in the value chains aren’t involved while system is developed and deployed.
Decatur and his co-founder Paul Lintilhac want to eliminate the trust and liability problems witnessed in other industries. Currently, they don’t have any paying clients as yet, but their software has attracted the attention of angel investors who have put up money to perfect the system and market it to the potential users.
Since the software is based on blockchain technology, it is sure to attract a lot of attention because blockchain has proved to have the capability of providing transparent systems in which all interested parties are aware of everything going on as soon as a transaction is made.
Now that the software is available, it is up to consumers, manufacturers, farmers and regulators to decide how far this tool can be used in order to remove the chaos that currently characterizes an industry in which even states that license growers don’t know how much hemp is used for CBD extraction and other purposes.
Experts think that Trace is onto something, and one wouldn’t be surprised if CBD industry actors like Sugarmade Inc. (OTCQB: SGMD) and The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) came calling to learn how the software can add value to their operations.
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