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Emerald Health Looks to Blockchain for Supply Management

Ryan Allway

February 1st, 2018

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The rise of bitcoin and other cryptocurrencies has sparked tremendous interest among the investment community. While many individual investors are focused on the cryptocurrencies themselves, financial institutions and regulators are more focused on the underlying blockchain technology that could revolutionize supply chains and financial transactions. Investors may want to consider investing in companies focused in these areas over the long-term.

Emerald Health Therapeutics Inc. (TSX-V: EMH) (OTCQB: EMHTF) recently announced a letter of intent to enter a joint venture to create a blockchain company focused on delivering innovative solutions to the global cannabis industry.

The Intersection of Blockchain & Cannabis

Blockchain technology has become increasingly popular with the rise of cryptocurrencies like Bitcoin and Ethereum. While these cryptocurrencies capture the headlines, the underlying blockchain technology extends well beyond the realm of currencies. Blockchains provide an immutable ledger of transactions, which could prove tremendously valuable to financial institutions, governments, and anyone that needs a reliable record of transactions.

The cannabis industry is a great example of an industry that requires such immutable ledgers. There are many touch points along the cannabis supply chain, including licensed producers, testing laboratories, distribution firms, and ultimately consumers. With several high-profile contaminations and the need for strict regulation, blockchain technology could help the cannabis industry overcome key hurdles that will only grow higher as the industry expands with recreational legalization.

Blockchain technology could help other areas of the industry. For example, governments would be able to see how much taxes are owed on products sold and companies could track supply chain costs down to the product level.

Emerald Health’s New Joint Venture

Emerald Health recently announced a joint venture with DMG Blockchain Solutions, called CannaChain Technologies, to develop a foundational blockchain-based supply chain management system and ecommerce marketplace for the legal cannabis industry. Under the terms of the deal, Emerald Health would provide its expertise and relationships and DMG Blockchain Solutions would build and deploy a blockchain supply chain management solution.

The new solution will provide extensive plant, growing, third-party testing, and handling data, as well as offer enhanced trust of origin, quality, and safety based on the blockchain’s ability to maintain immutable records as cannabis products flow from seed to sale through the supply chain. Relevant stakeholders for this technology alone include producers, distributors, shippers, government agencies, and consumers.

“There are notable new applications of blockchain technology to validate and assure the source, quality and integrity of products such as diamonds, wine, and art, along with coffee and other food products,” said Emerald Health Executive Chairman Avtar Dhillon, MD. “Cannabis is also a prime industry in which to apply blockchain supply management based on the broad spectrum of plant and growing attributes, as well as product innovation potential.”

The joint venture will also focus on developing an ecommerce marketplace based on the blockchain-based supply chain management system to facilitate the sale of a broad product selection backed by unprecedented supporting data and trust.

Currently, the companies remain in negotiations to finalize the joint venture and the specific terms will be announced at a later date.

Looking Ahead

Emerald Health Therapeutics Inc. (TSX-V: EMH) (OTCQB: EMHTF) is well-positioned to leverage its unique status in the cannabis industry as a licensed producer to introduce a blockchain implementation that could revolutionize the industry’s supply chain. Investors may want to consider the company as a more diversified play on the industry than licensed producers that are squarely focused on cultivation and distribution operations.

For more information, visit the company’s website at www.emerald.care.

Disclaimer

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please see our disclaimer below and follow the link to view our full disclosure outlining compensation: https://cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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