Greenstream has leveraged proprietary advanced blockchain technologies to empower all stakeholders in the emerging cannabis marketplace. We can drastically reduce the threat of human interference along with monitoring costs, resolving conflicting regulations throughout the industry.
As the Canadian legal cannabis industry takes form, commercial activities begin to flow through more and more channels. This increasingly complex stream of transactions is prime for corruption and infiltration, representing a major risk for the industry’s pioneers. The conventional supply chain can easily be compromised and will undoubtedly lead to new black-market activities, legalization setbacks and ultimately debilitating regulations.
To unify provincial regulations and the growing number of players in the system, a new traceability network must be implemented. And while several proposed tracking solutions are already in the works, they’re cordoned off from each other, locking users to vendors with separate, centralized databases. Greenstream’s network allows all these channels to communicate, interoperate and transfer assets among everyone in the Canadian cannabis ecosystem. The system authenticates each step of supply chain while enforcing all jurisdictional regulations. Easily scalable, Greenstream’s technology will meticulously keep in step with an industry poised for rapid changes.
This year, Canada’s federal government will legalize cannabis countrywide for recreational purposes. Unlike the US and its state-by-state approach, Canada is adopting federal policy guidelines that allow provinces to simultaneously draft their own legislation. As a result, 2018 will see a seismic shift in how cannabis transactions are maintained between producers, sellers, ancillary services, regulators and consumers. Supply chain will be complex, fragmented and prone to corruption.
Greenstream sees the different types of proposed licenses to be a reassuring step towards achieving the Canadian Government’s overall objectives for the legalization and regulation of Cannabis. Greenstream has concerns, however, that certain gaps in regulatory oversight of supply chain activities may persist if regulatory minima for additional types of licenses and/or requirements are not proposed by the Federal government.
Greenstream’s regulatory compliance platform that enables unprecedented oversight of the cannabis supply chain in real-time. The platform is capable of recording and containing the complete history of cannabis transactions in a manner that is immutable, verifiable and accessible by regulators and stakeholders on a permission basis.
The platform includes a new medium of exchange that is capable of internalizing the evolving federal, provincial, and territorial regulatory frameworks, ensuring that only tax remitting, regulatory compliant transactions are possible. The benefits of adopting Greenstream’s platform include guaranteeing provenance, traceability and auditability; ending the possibility for illegal cannabis to infiltrate the legal market through untraceable, cash transactions; preventing the sale of cannabis to youth; and, ensuring the conversion of legally produced cannabis into federal and provincial tax revenue. In short, Greenstream’ platform advances the essential purposes of the Cannabis Act, to protect public health and safety while eliminating the black market.
Greenstream’s platform is capable of recording and containing a consumer’s complete history of cannabis transactions in a manner that is immutable, auditable and accessible in real-time. The integrity of the tracking is ensured through an identity management system that is interoperable with existing supply chain management solutions. Through this identity management system, all changes in the custody of goods are attributable to a single entity or individual, allowing for a single repository of all transactions, or, a single source of truth for value and product transfers.
Licensed Producers and Distributors
Greenstream has reengineered today’s A-typical payment gateway. For producers and distributors transacting online, this means lower fees and lightning fast settlements. Greenstream is always monitoring for compliance by verifying supply chain movement variables and authenticating these transactions. In short, Greenstream works to save producers and distributors time, money, and (avoidable) regulatory problems.
Greenstream’s platform is capable of internalizing and updating federal, provincial and territorial regulatory frameworks as they evolve, ensuring that only tax remitting, regulatory compliant transactions are possible. Standardization of this new medium of exchange across the cannabis supply chain would effectively eliminate the possibility for cannabis to be sold to youth or for illegal cannabis to infiltrate the legal market through untraceable, cash transactions. In light of the increasing risk that illegal Cannabis will be used to make up for shortfalls in supply at the outset of legalization, Greenstream strongly urges the government to consider including this blockchain-enabled medium of exchange in its regulatory approach.
Transport & Chain of Custody
By providing an immutable chain of custody as well as a digital identity solution, Greenstream’s platform ensures supply chain participants are authenticated and authorized to perform the activity in question, e.g. transportation or possession of cannabis. Greenstream is pleased to report that its blockchain-enabled regulatory compliance platform would make it impossible to process transactions involving product forms not expressly contained in government regulations. Thus, Greenstream’s platform reinforces the government’s oversight of personnel that have been authorized to undertake cannabis-related activities, including personnel required to obtain security clearances.
The Greenstream platform will be capable producing and storing data insights on all product forms that industry has been authorized to manufacture and sell to the public, yielding potential for greater regulatory oversight/insight, research into effects on youth and public health, and analyses of trends in consumption.
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