Blockchain company Global Compliance Applications Corp (GCAC) has teamed up with technology provider ThingBlu and hemp supplier B&M Products and Services to offer blockchain for the US hemp industry, GCAC announced on 11 October.
GCAC’s Efixii blockchain system is designed to connect producers, distributors, manufacturers and retailers through a series of Apps, with data viewable through a scannable QR code.
According to its website, ThingBlu provides technology to the agriculture industry, including workflow management systems.
“We can now help our network of farmers and processors avoid the missteps we saw in the 2018 hemp rush. Our goal is to deliver high-quality industrial hemp in high volume,” B&M Products & Services owner Marla Rivera said.
Indiana-based B&M Products and Services has contracts with a network of industrial hemp growers and processors.
North America’s industrial hemp market is forecast to reach US$87.5M by 2027 and is expected to grow at a CAGR of 7.5%, according to Global Market Insights.
