How the Tech Behind Bitcoin Could Safeguard Marijuana Sales Data

Not everyone’s a fan of ‘blockchain’ encryption, but the cannabis industry is eyeing it for protection.

The technology that powers bitcoin could be deployed to track the flow of legal product in Canada’s marijuana market without compromising the privacy of its customers.

The Cannabis Act authorizes Health Canada to implement a national tracking system for marijuana — following the journey from seed to sale — to protect the integrity of the legal market.

The challenge is to keep that information confidential in an age of widespread hacking.

Bitcoin’s cryptocurrency data is secured through blockchain technology — a decentralized way of storing information using blocks of verified data that build on each other in a linear way, like links in a chain.

– Read the entire article at CBC News.

Read More Here...

Leave a Reply

Your email address will not be published. Required fields are marked *