HUNTINGTON BEACH, Calif., April 20, 2018 /PRNewswire/ — Budbo, Inc. is taking another significant leap forward in its mission to transform the cannabis supply chain via blockchain technology with the addition of four distinguished blockchain engineers. Budbo is now nearing completion of its blockchain platform, and has finalized a partnership with ancillary service CannLiv to utilize the Budbo blockchain. CannLiv manufactures a variety of Cannabinoid products crafted with the purest ingredients for a consistent and reliable product.
With more than 15 years combined experience in the blockchain space, the four new Budbo blockchain engineers have individually and collectively amassed a long list of achievements and specialties, including:
Budbo’s blockchain engineering team is now equipped to accelerate development of the platform, ensuring it meets the highest technical and industry standards possible. Budbo’s private blockchain will provide easy integration via open standard APIs.
By leveraging blockchain’s capability to create an immutable history of data, Budbo’s customers gain access to a secure, private, tamper-proof, mathematically verifiable record of their data content. The solution will also lower transaction, compliance and cyber costs, while relying on fewer intermediaries. Budbo’s mathematically-certified data across systems and business functions will enable construction of an impenetrable audit trail.
Crucially, this full spectrum of advanced features will also help ensure all sectors in the cannabis pursuit are operating within the legal boundaries set forth by various industry regulators.
“Local, state, and federal governments now have the ability to have real-time data and oversight into the cannabis industry’s numerous transactional facets, while having the ability to run compliance and regulation algorithms,” says Budbo CTO Jacob Patterson. “The immutable ledger helps ensure the industry is keeping honest and legal.”
In addition to CannLiv, several other companies, organizations and ancillary services have also expressed interest in building their platforms on the Budbo blockchain. Budbo is continuing discussions with a number of high-profile entities regarding further potential partnerships.
“The legal cannabis industry is expected to grow by up to 20% each year between now and 2025,” says Gary Heitz, Budbo COO. “By then the industry will have reached a market cap approaching $24 billion, along with creating thousands of new jobs and millions upon millions in tax revenue. Budbo has firmly positioned itself to lead the industry into this exciting new era through expert foresight, raw determination, and the assembly of a development team that is unrivaled in the sector.”
Budbo was founded in November of 2016 to provide the highest quality medicine to cannabis patients by chasing the technological horizon. Every decision we’ve made has been guided by this ethos; from launching a consumer facing mobile application, to providing logistics and tracking to growers, and now the industry-wide blockchain solution.
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