Faking products and services is a real problem that affects everyone - according to Forbes, the total amount of counterfeit goods sold yearly goes from 1.7 trillion to 4.5 trillion USD.
However, @blockticity proposes a solution through @avax for the growing industry of cannabis.
Providing another perspective on credibility and flawless certification methods, Blockticity uses ERC-771 tokens (NFTs) in order to verify assets delivered to providers.
But why is this so important for the cannabis trade?
The emerging industry of cannabis needs decentralized certification methods that avoid problems with legal loopholes while still complying with the laws of the regions where the commerce happens.
Back in 2021, ACS Laboratory, a research facility dedicated to the production of hemp, CBD, mushrooms and Kratom, partnered with Blockticity to launch the first certificate of authenticity (COA) as an NFT.
Cannabis is not the only use case that Blockticity plans to provide to the industry:
Fruit, sugar, sneakers, meat and other goods are also planned to be part of the protocol 🚀
αɾʂԋ9000 🔺
@Arsh0x1
@avax official ambassador | DeFi Researcher | #Avalanche ambassador for @MELD_Defi | Marketing Consultant at @BioFiGlobal 🧑🏻💻
