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Vermont Turns to Blockchain Company to Track Hemp With Ethereum
Summary: Trace CEO, Josh Decatur, believes the Vermont's Agency of Agriculture, Food and Markets’ five year deal is a solution farmers and processors could get behind as a production ready solution for users and the state government to be in the know of transactions passed, according to CoinDesk. Trace will be the first licensing system that ...
Trace CEO, Josh Decatur, believes the Vermont's Agency of Agriculture, Food and Markets’ five year deal is a solution farmers and processors could get behind as a production ready solution for users and the state government to be in the know of transactions passed, according to CoinDesk.
Trace will be the first licensing system that brings together blockchain and the hemp industry. Decatur expressed his desires to find an "innovative way to hone a product that could meet the tracking and data requirements of a state agency," the company created a patented software to account where, when, and who moved the plant's derivative product. Since hemp lot farmers are low frequency, meaning they send no more than four transactions a year, it fits the network’s performance restriction Ethereum offers, since Trace system runs on the cryptocurrency Ethereum.
By Claudia Rivera
Tags: agriculture,Blockchain,Cannabis,Ethereum,Hemp,Vermont
Link: Vermont Turns to Blockchain Company to Track Hemp With Ethereum [Copy]
