Vermont Deploys Blockchain System for State’s Hemp Program
Vermont state agency will manage State’s Hemp Program this year via blockchain-based platform Trace Exchange designed by Trace LCC.
According to Vermont Agency of Agriculture, Food & Markets, blockchain platform Trace Exchange will be deployed in time for hemp growers annual registration of this year. According to Vermont statistics, almost 1000 hemp producers registered for the program last year.
With the hemp industry plagued by transparency issues, new blockchain platform is expected to provide e-payment infrastructure for more secure and smooth transactions between hemp growers and buyers, as well as ensure product quality by processing compliance data, tracking and verifying.
Trace’s founder and CEO Josh Decatur also believe that the system could benefit farmers for shielding them from unnecessary risks:
“Hemp growers can easily track their harvest from soil to shelf and be connected with potential buyers, putting control back in the hands of farmers in an exciting but uncertain market”
With Trace Exchange now being authorised under the Act Related to Blockchain Business Development, Trace LCC plans to expand its business to recreational and medical cannabis sectors in the upcoming months.
As Future Time previously reported, CannadaBiz also unites CBD industry with blockchain for the company expansion in Asia.