Blockchains- Not just for Cryptocurrency

September 2, 2021

When it comes to retailing any product, transparency can be a huge benefit to consumers. In recent years, that visibility into a product’s origins has been the central focus of the hemp industry. In an effort to build trust in their product, companies have been demonstrating how CBD is grown and processed from start to finish. As the consumer market evolves, there might be additional ways for consumers to know exactly where their CBD is coming from. Blockchain technology could provide a new way to track a product’s supply chain in the future.

Sorting technology has changed over time. Early sorting methods included the transport of physical mail through various sorting centers, but this proved to be difficult and inefficient. Since computers are much faster than humans, many businesses turned to automation in the form of mail sorting machines. Now, computer-to-computer communication is used in conjunction with mail sorting machines for greater efficiency, security, and speed.

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Blockchains are a technological infrastructure that was created as a way to track the movement of a product, either through time or space. In the context of cryptocurrency -- the movement of money -- the product being moved is usually from one person to another. In the context of CBD oil, this could potentially be a way to log the movement of hemp and track where it has been to allow consumers more transparency when buying.

In the world of cryptocurrency, the blockchain is a public ledger of all transactions ever made. In the marijuana industry, blockchains provide a way to track the movement of hemp from field to consumer. However, as one recent article found, some companies are already taking advantage of this technology.

Blockchains are the latest in online security technology, which are used to backtrack the movement of a product. In this context, the product being moved is hemp or cannabis. The blockchain allows companies to track the movement of their product through its supply chain, allowing consumers to have more confidence when purchasing because they know where it’s come from.

Blockchains are the latest in online security technology, which are used to backtrack the movement of a product. In this context, the product being moved is hemp or cannabis. The blockchain allows companies to track the movement of their product through its supply chain, allowing consumers to have more confidence when purchasing because they know where it’s come from.

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