In essence, the cannabis industry is as enticing as it is controversial. However, many governments are now giving the green light to recreational cannabis. Therefore, there is an expectation of significant growth in the cannabis industry. One such emerging company is Veritas Pharma Inc.
Veritas is an emerging pharmaceutical company with a focus on IP development. Operating via its 100% owned subsidiary, Cannevert Therapeutics Ltd, Veritas is one of the pioneers of disruption in the medicinal cannabis industry.
In the meantime, Veritas is welcoming a Memorandum of Understanding between 3 Carbon Extractions Inc. (“3 CARBON”) with Rubikon Blockchain Corporation (“Rubikon”). With this MoU, both parties will work toward establishing secure infrastructure for the processing of cannabis extracts. Not to mention the tracking of manufacturing instruments.
When Ambition and Innovation Is Needed, Rubikon and 3 Carbon Join Together
On one hand, Rubikon reckons as a formidable blockchain development company renowned for its innovative product information platform. Such a platform finds phenomenal application in the medical cannabis sector. Rubikon has taken innovation an impressive step further by fusing RFID technology with Seed-to-Sale software enhanced with blockchain. The result is an incredible data management solution with great efficiency in industrial tracking.
Therefore, the joining of 3 Carbon and Rubikon will engender an expansion of Rubikon’s commercial applications, while juicing 3 Carbon with more transparency and accuracy in their compliance reporting.
According to Joel Semczyszyn, Rubikon’s CEO,
“We have extensively explored the cannabis processing and manufacturing sector and are excited to work with a company that shares our values of integrity, transparency, and providing value like 3 Carbon Extractions.“
A Junction of Promise
Certainly, you expect Rubikon and 3 Carbon to be drenching with enthusiasm as to the potential mutual benefits of this union. Similarly, Veritas is equally enthused as to the promise of the union to the medical cannabis industry. Moreover, this union shines considering that Canada will legalize edible cannabis products by 2019.
According to 3 Carbon Extractions CEO, Phillip Kwong,
“With Canada’s plan to legalize and regulate edible cannabis products and derivatives in 2019, this MOU creates an opportunity for our two companies to establish an effective and efficient tracking system for cannabis processors and manufacturers. This will help them achieve quality standards and comply with complex government regulations.”
Michigan Wrestling with Cannabis Dispensaries
Conversely, Michigan’s Department of Licensing and Regulatory Affairs (LARA) is shockingly clamping down on cannabis dispensaries. In view of the new set of laws from the regulatory body, more than 90 dispensaries could be thrown off operation. This disheartening emergency order will allow approximately 110 dispensaries working towards LARA licenses to remain in operation until December 15. However, about 98 dispensaries who made submissions of their initial applications by February 15 will have no other option but to shut down.
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