Budbo, an enterprise suite of products focused on data analytics in the cannabis sector, has officially announced its sale of tokens for its platform to be built on blockchain technology. The blockchain will help Budbo achieve its goal of becoming the data backbone for the cannabis ecosystem. The Budbo industry-wide solution, built on the Ethereum platform, will deliver security, transparency and convenience for an industry desperately in need of all three. The ICO pre-sale began on November 27, 2017, and the public sale of the tokens will begin on January 15, 2018. More information about Budbo’s ICO and how to contribute to the ICO is available at
http://www.Budbo.io.
Budbo will be the first-of-its-kind, fully integrated blockchain-based solution for standardized and regulated interaction between cannabis users, dispensaries, and couriers. GPS technology will also track all cannabis movements from seed-to-sale. The Budbo Tokens sold In the ICO (BUBO tokens), will enable integration of the Budbo solution to all third parties via API, allowing for a single point, data-driven cannabis environment to quickly flourish.
Blockchain technology offers a way to streamline all cannabis pursuits simultaneously as it holds an immutable ledger that leverages crypto-tokens built on smart contracts. These benefits include:
Recording and Storing Product Life Cycle Events
Verifying Patient Identity
Transaction Assurance
Equipment Ordering
Inventory Management
Seed to Sale Tracking
Client Management
Delivery Tracking and Verification
Platform Analytics
“Imagine, if you will, the entire cannabis industry as a decentralized autonomous organization,” says Luke Patterson, President and Co-Founder of Budbo. “A patient’s identification and medication regimen will be encrypted and safely stored within the ledger of a blockchain. The smart contract enables the safe transfer of goods through verifiable proof of pick up, bill of lading, and proof of delivery. Medical testing of cannabis potency is verified and immutable as the product is moved from lab to dispensary.”
Mr. Patterson continued, “The cannabis community at large is a self-governing group of activists, patients, physicians, developers, artists, and enthusiasts. All these groups are working towards the common goal of improving the cannabis industry through contributing votes, engineering and technology. We believe that Budbo’s knowledge of decentralized applications and Budbo’s network will help achieve that goal.”