The CBD industry has seen a massive boom over the past few years, with consumers vouching for the cannabinoids efficacy in addressing various ailments. Various products like CBD oils, edibles in the form of gummies, hard candies, and other ingestibles, and salves and lotions and other topicals have flooded the market as different companies vie for their places in the ever growing industry.
The blockchain industry saw this boom as a means of growth for their industry as well. The CBD and blockchain industries have become quite the pair. The CBD industry began to view blockchain as a way to build integrity and trust in their products. The transparency offered by blockchain allows for easier traceability of ingredients and the THC levels in various CBD oils and products.
Blockchain and tracing
Blockchain is built in such a way that reports are uploaded and stored directly in the chain and can be viewed by users. This way, everything is out in the open, the data is accessible publicly and can easily be verified.
The Cannabinoid Association of the Netherlands (CAN) is a consortium of CBD producers in the Netherlands. They have found a way to use blockchain as a way to trace the movements of CBD products and promote accountability in the CBD market. They launched a free to use online search tool called CanCheck that allows consumers to trace the product from seed to shelf, and every movement of the production process in between.
This online search tool, also provides consumers with a full product analysis of CBD products conducted by accredited laboratories. Any product that has the CAN quality mark will have their data available in the search tool. Available data will include a product’s laboratory analysis, verified origin, and accurate labeling. The CAN quality mark guarantees that the product bearing it has met all the EU requirements for CBD products.
How blockchain can help with CBD legal matters
This is happening amidst the uncertainty of the EU CBD industry remaining legal. The status of CBD products — mainly CBD oils and CBD edibles — is in a gray area in the EU. It has emerged that the EC is considering changing the status of CBD products from Novel Food to Narcotic.
The EU cannabis producers are hoping that with the CanCheck tool and other blockchain based tools that will undoubtedly emerge in the future, the EC will change their minds about considering CBD products as narcotics. With this tool offering unprecedented transparency when it comes to sourcing and production, players in the CBD industry are proving that their products are legitimate, safe, and fall within the regulatory guidelines set by the EC.
The future of CBD
With a stronger base for tracing and transparency using blockchain, CBD products can evolve from mainly tinctures and capsules into full on CBD fortified food products. We may be seeing CBD in normal everyday food that consumers can enjoy while reaping the benefits of CBD.
There will, of course, be a need for further scientific study. We still need to have a sure fire way of regulating dosage, and there certainly will always be the need for clinical testing. But as a whole, the CBD industry is at the precipice of more innovations that will help consumers.
Heather Smith is the Communications Manager at Sunday Scaries. She’s a composed copywriter and content strategist. She’s also a CBD advocate, promoting a healthy lifestyle free of stress and scaries.