Chow420 Launches Blockchain Platform to Help Solve the Hemp CBD Market’s Trust and Safety Problem

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Hemp CBD startup, Chow420 is taking the market by storm after raising $1 million in seed funding and has now built a blockchain-powered cannabis ecosystem to simplify and facilitate trade amongst all stakeholders in the Hemp and CBD industry. Unlike pharmaceuticals, it is incredibly difficult to create a consistent cannabis product as small changes in the growing process affect the nature of the plant and the final product. Another challenge is the lack of FDA regulation, which has led to opportunistic actors taking advantage of the fast-growing, but relatively under-developed market, at the expense of consumer safety. Chow420 is solving these challenges, head-on, by building a first of its kind certification standard on the Binance blockchain network. Last year, Chow420 completed their smart online marketplace, onboarding more than 500 companies like Hempbase, Windy Hill Hemp, Koi and Absolute Nature CBD, who produce high-quality products. “Chow420 has turned out to be one of the best business decisions we have made,” shared Windy Hill Hemp President, Kristy Redmon, “With Chow’s online age-verification and automated state-compliance, we are assured that 100% of our customers are of legal age and that we are meeting all state regulations. Chow even provides real-time sales tax calculations, which is no small feat given Colorado’s complex multi-jurisdictional tax requirements.” added Kristy. In combination with their automated dispensaries launching in malls this Fall, Chow420 is bringing trust, compliance, and convenience to an emergent, but nascent industry, characterized by regulatory gaps, which is predicted to be worth $20 billion by 2024 (Forbes, 2019). “Our goal is to provide the industry with a robust offering that uses blockchain and a combination of physical and online tools to promote best practices in the manufacturing, testing, and retail segments of the CBD Industry,” shared Chow420 CEO & Cofounder, David Obasiolu. This endeavor by…

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Source : Chow420 Launches Blockchain Platform to Help Solve the Hemp CBD Market’s Trust and Safety Problem

reposted by Cannabis News World

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