LGC Launches Subsidiary To Create Cannabis Blockchain Platform

LGC Capital (TSXV:LG) announced the launch of a new subsidiary to participate in the development of a “global marketplace technology platform” for producers, processors, and retailers in selling, and consumers of cannabis product.
As quoted in the press release:

LGC will focus on providing a traceable and verifiable platform, thereby enabling producers to have an efficient payment mechanism that replaces current ad hoc cash-based payments and that will be fully compliant with all relevant jurisdictional regulations.
The platform will utilize the latest blockchain technologies to create a reliable and verifiable purchase and payment system and use Internet of Things (“IOT”) technologies to track cannabis product shipments so as to provide assurance to consumers regarding the sourcing and quality of products.

Click here to read the full press release.

Source: www.newswire.ca