Blockticity, a blockchain and crypto-based certification company, is revolutionizing the hemp and cannabis industry by minting NFT certificates of analysis (COAs) on the Avalanche (AVA) blockchain. This innovative approach bridges the gap between authenticity and transparency, bringing a new era of trust and authenticity to the market.
Blockticity focuses on blockchain-supported certificates of authenticity and has utilized Avalanche, a tier 1 blockchain, to mint certificates worth a staggering $275 million. This groundbreaking process is essential for the hemp and cannabis market, and this article explores the intricacies of Blockticity’s innovative process.
The genesis of Blockticity’s certification minting process began with the development of a COA coinage system. COAs, which are non-fungible tokens (NFTs), serve as verifiable proof of authenticity for a wide range of products, including hemp, psychedelic mushrooms, and kratom. The first batch of COA mintage is housed in the ACS Laboratory, a major hemp and cannabis testing center in the United States.
The collaboration between Blockticity and the ACS Laboratory aims to enhance supply chain transparency. The ACS Laboratory tests products for potency and ensures the absence of harmful chemicals or pesticides. Blockticity’s mission is to enable users to trace COAs back to the source laboratories, ensuring access to the full results of product testing.
One of the major challenges faced by the hemp, cannabis, mushroom, and kratom industry is the potential fraudulent manipulation of COAs through tampering with QR codes or altering data. Blockticity addresses this problem by integrating Avalanche NFT. By printing QR codes on products linked directly to COAs minted on the Avalanche blockchain, the risk of fraud is significantly reduced. Users can now be assured that the data they access is authentic and tamper-proof.
In addition to safeguarding the integrity of COAs, Blockticity’s integration of Avalanche NFT facilitates source tracking. Companies can scan the QR code on their products to retrieve the associated report, which is authenticated by the blockchain. This innovative approach adds an unprecedented level of trust and transparency to the certification process.
The collaboration between Blockticity and the ACS Laboratory is just the beginning. With plans to mint another 120,000 COAs, this partnership will further improve supply chain transparency and product authenticity in the cannabis industry. Roger Brown, the president of ACS Laboratory, recognizes the transformative potential of this technology in tracking the origins of COAs and identifying any discrepancies.
The integration of Avalanche NFT into the certification process by Blockticity marks a significant milestone in the hemp and cannabis industry. By addressing the challenges of authenticity and transparency, this innovative startup is reshaping the way we perceive and trust product certifications. The collaboration with the ACS Laboratory continues to develop, and the future promises even greater advances in ensuring the integrity of hemp and cannabis products.
Overall, Blockticity’s journey showcases the power of blockchain technology and its potential to revolutionize industries, one NFT at a time. The implementation of Avalanche NFT in the hemp and cannabis industry brings a new level of trust and transparency, ensuring consumers can have confidence in the authenticity of the products they purchase.