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IBM says blockchain is solution to track pot from “seed to sale“

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(FinancialPress) —  Bluest-of-blue-chip tech company IBM is touting the blockchain to be the solution to tracking pot from it‘s inception to the point it reaches the final consumer. The New York-based company submitted a suggestion paper to the government of British Columbia this month, as the province had publicly requested feedback when preparing for the upcoming nationwide legalization of recreational marijuana use, in July.

Using the blockchain, B.C. would be able to control the sourcing, commercialization and pricing of marijuana products while it would also allow producers to keep track of inventory, consumption trends, supply and demand projection, said IBM in the same paper.

Each participant of the blockchain helps update and validate the shared digital ledger in real time, and can pinpoint the exact location of a product at any point in time. IBM said that “This type of transparency would bring a new level of visibility and control to the provincial regulators.“

IBM has been riding the blockchain train for several years now. It has been promoting the technology for everything from financial services to industries to cargo shipping and even consumer retail. The company believes that its traditional larger clients will adopt the technology eventually, which will help mitigate the effect of reduced legacy sales on its financials.

IBM spokeswoman Carrie Bendzsa said in an email that the recommendation was made upon request from the government: “Our submission was in response to a government request.“

Ruben is a South American writer who focuses on the state of the cryptocurrency, cannabis and tech industries worldwide.

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EVIO Applies for Testing License as Massachusetts Recreational Cannabis Market Heads Above $1 Billion in 2021

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(FinancialPress) — In November 2016, voters in Massachusetts legalized recreational marijuana, making the state the first east of the Rocky Mountains to do so. July 1, 2018 marked the first day that a consumer could buy recreational cannabis, although they actually couldn’t because it took until July 2 for the Cannabis Control Commission, the government unit that regulates the industry, to issue its first recreational retail license. To that end, the Commonwealth’s cannabis industry is just starting to get its legs under it, but it is expected to grow fast, reaching $1 billion by 2021, according to Lori Glauser, Chief Operating Officer at EVIO Inc.

EVIO is the parent of EVIO Labs, a leading provider of cannabis testing and scientific research. Headquartered in Bend, Oregon, EVIO has labs in its home state, California, Florida, Colorado, Canada and Massachusetts.

EVIO acquired the lab last summer through the buyout of Viridis Analytics MA, one of only a handful of operating labs in the state, for an undisclosed amount.

Earlier this month, the lab earned its ISO/IEC 17025 accreditation from American Association for Laboratory Accreditation. ISO/IEC 17025 is the highest recognized quality standard in the world for calibration and testing laboratories. As the industry matures, the accreditation has become a mandatory part of the supply chain for independent labs.

Already distinguished from most peers, EVIO Labs has become one of only three labs statewide to initiate the licensing process to be an independent testing laboratory under the Cannabis Control Commission’s recently adopted adult use regulations. Per Massachusetts’ law, every recreational marijuana product must bear a seal indicating that a Commission-licensed independent laboratory has analyzed the product for contaminants and potency levels.

Glauser says that EVIO Labs is now positioned to play a “major role” in the state as the cannabis industry is starting to ramp up.

The cannabis testing market is one of the safer investment plays in what some have called the “Green Rush” of the legalized cannabis market. There have been an explosion of cannabis companies over the last two years, public and private companies offering everything from edible marijuana popsicles to social media platforms geared towards marijuana enthusiasts. Many investors want to invest in this booming market but have a hard time evaluating the risks of the various market subsets let alone the various companies within those subsets. However, cannabis testing is fast becoming attractive to investors looking for a more predictable growth model. Within this industry, EVIO continues to be a leader, and the recent infusion of investment capital will go a long way in cementing its leadership in the industry. Investors looking for a real company with real assets in an exciting and evolving market should take a look at EVIO, Inc.

DISCLAIMER: Online Media Group, Inc. is not registered with any financial or securities regulatory authority and holds no investment licenses and does not provide, nor claims to provide, investment advice. We are a publisher of original and third-party news and information. This article is sponsored content and is neither an offer nor recommendation to buy, sell or hold any security. The views expressed are our own and not intended to be the basis for any investment decision. Investing intrinsically involves substantial risk and readers are reminded to consult an investment professional and complete their own due diligence, including SEC filings, when researching any companies mentioned in this release. This release is based upon publicly available information and, while vetted, is not considered to be all-inclusive or guaranteed to be free from errors. With respect to Section 17(B) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader’s attention to the fact that Online Media Group, Inc. received compensation from EVIO. Inc. for content creation, advertising and distribution services related to this material.

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Canada, it‘s official: legal cannabis set for October

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(FinancialPress) — Canada‘s Prime Minister, Justin Trudeau, has officialized the date for countrywide legalization of marijuana. Starting on October 17th, Canadians legal cannabis will be the norm for commercialization and consumption.

Trudeau‘s revelation ended months of mystery over which would be the specific date in which the new policy would come into effect. Initially slated for July 1, the bill encountered several last-minute oppositions that led to its enactment being delayed further.

He had originally promised 8 to 12 weeks for businesses, provinces and municipalities to set the framework to receive the legalization. The new date gives them 17 weeks.

The polemic Bill C-45, which regulates how legalization of recreational weed will occur, was passed in its final vote this week. While some congressmen declared it a “historic“ event, many others were cautious about all the work left to be done after a major public policy overhaul.

Now, the bill awaits royal assent; which should happen in a few days‘ time at most. However, that will not effectively enact the new policy immediately, but is rather another step in that direction.

What we know

Provinces and territories have full jurisdiction over where and how legal cannabis products can be commercialized. This has led to an array of private, licensed and government-run stores and facilities across the country.

The legal age of purchase and consumption has been set to 19, with the exceptions of Quebec and Alberta where it will be 18. Consumers will also be able to purchase the plant online.

Regulation over where Canadians can consume the drug will be strict, and is still pending announcement.

Legal cannabis products will be sold in plain packaging. Fresh/dried weed, seeds and oils will be commercially available immediately after the set date; edibles, however will take longer to be rolled out – and are not expected in shelves before early 2019.

Canada thus becomes the second nation to roll out countrywide legalization, following Uruguay.

 

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Judge double OKs sale of smokable medical cannabis in Florida

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(FinancialPress) — A ban on smokable medical marijuana was lifted by a Florida judge. The decision opens a massive potential for the Sunshine State‘s medical cannabis market.

Judge Karen Gievers (Leon County Circuit Court) upheld a previous ruling that declared that the Florida Legislature‘s ban on smokable MMJ is inconstitutional.

She added that continuing to delay her ruling would ultimately cause irreparable harm to patients in need of the administration method. The ban will be officially lifted on June 11.

Her original ruling was contested by the state‘s health department – which automatically put her decision on ice.

“First, they cannot legally access the treatment recommended for them,” the ruling said. “Second, they face potential criminal prosecution for possession and use of the medicinal substance.”

During the hearing, Gievers went more in-depth:  “there is no evidence the defendants [the state] will suffer harm if the stay is vacated. Lifting the stay preserves the status quo by returning the law to its previous state as it existed following the 2016 adoption” of the constitutional amendment.

In response, the health department‘s spokesperson, Devin Galetta, said : “The use of medical marijuana is outlined in state law, which was passed by an overwhelmingly bipartisan majority of the Florida legislature. Our focus remains with ensuring that patients have access to medical cannabis, and the Florida Department of Health has made significant progress in making this treatment available. In fact, there are more than 117,000 patients who have access to medical marijuana and over 1,300 doctors are licensed to order this treatment.”

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