A California-based cannabis nursery has turned to blockchain and smart contracts to verify the authenticity of its medicinal plants.
Mendocino Clone Company, a cannabis nursery, was included in a Jan. 13 cooperation announcement from the EMTRI project and tech company Global Compliance Applications.
By utilizing the blockchain capabilities of the project, a batch certificate will be issued for each clone or baby plant. Cannabis nurseries are businesses with a focus on plant genetics that create clones, baby plants, and seeds for wholesale distribution.
By making the change, the nursery will be able to “document the early stages of a cannabis plant’s journey to becoming a premium product for consumers based on the gram weight it flowers,” according to a statement from the nursery.
Each clone batch’s batch certificate is a self-generated smart contract. It provides a “unique identity block” for every baby plant, which is made by the nursery and connected to its Ethereum-based blockchain.
This can be used by its customers, which include retail dispensaries and commercial farms, to confirm the legitimacy of their clones and their genetic lineage, it added.
The first week of February will see the release of the initial batch of certificate clones.Additionally, for joining the blockchain project, authorized cultivators who buy Mendocino clones will have access to EMTRI token (EMT) rewards and better prices.
EMT was introduced in November to give project participants incentives. The tokens can be staked for increased yield or traded on Uniswap for USDC. No centralized exchanges or crypto market data aggregators like CoinGecko list EMT. Scott Zarnes, an EMTRI Corp. co-founder, said:
“We are excited to be at the forefront of the cannabis industry becoming the first in the United States to adopt this cutting-edge technology in this manner.”
The idea of combining cryptocurrency and marijuana is not new, though. Cannaland, a cannabis-themed Metaverse project, was introduced in November with the goal of building a virtual world for cannabis fans.
A custom pipe manufacturer released tokenized bongs in January 2022, and celebrities like Snoop Dogg and Santana bought up the NFTs.As early as 2014, initiatives like PotCoin (POT) and CannabisCoin (CANN) attempted to offer a digital currency tailored to the sector, but they never truly took off.
