Startup Develops Cannabis and CBD Supply Chains on the Blockchain
The CBD and cannabis market has grown extremely fast in recent years and this strong growth will continue. This is partly due to the wave of legalization, and partly because many products are becoming more well-known and popular. The hype around cannabis began in the USA and is now also evident in Europe and worldwide.
The German company CeBiol is on the European market with CBD for almost 5 years and know the market, its weaknesses, and problems. The company CeBioLabs has made it its business to solve these problems. Through various novel developments, the company wants to revolutionize the market for CBD and Cannabis. Blockchain technology will play a key role in this.
CBD and Blockchain Experts as the Foundation of the CeBioLabs Team
The CeBioLabs team includes experienced employees of CeBiol GmbH as well as a team of experts in crypto and blockchain technologies. The whole project is accompanied by a renowned law firm for financial and capital law. A lot of emphasis was put on the review of the project by the German Federal Financial Supervisory Authority “BaFin”. This has also classified the CBSL token as a “utility token”.
CeBioLabs Makes the CBD Market With its Value Chains More Transparent
As the market grows rapidly, so does the number of products and providers, as well as all the players involved in the supply chains. The biggest problem is the long and often complex supply chains. By the time the finished products reach the customer, they have often traveled long distances and gone through many different production processes. Important information is often not available to the companies involved, is not transmitted correctly, or is getting lost. As a result, the market is not transparent, which is a major problem, especially with the sensitive topic of Cannabis.
To solve this problem, CeBioLabs has developed the world’s first blockchain-based supply chain management tool. Blockchain technology is often used as a synonym for bitcoin and other cryptocurrencies. However, these represent only single application areas of Blockchain technology. The potential of blockchain technology is huge, this can be used for entire industries.
The Blockchain Technology as Solution
In the Blockchain data structure implemented in the CeBioLabs SCM system, all data is managed in a decentralized, traceable, and tamper-proof manner without a central instance. As a result, all types of transactions can be verified transparently and trustworthily without a central instance. Individual data records are combined into blocks, linked within the network, and strung together to form a blockchain. This is also where the name blockchain comes from. Cryptographic mechanisms ensure that the data integrated into the blockchain cannot be changed or falsified. Blockchain technology can be used in countless economic sectors due to its many advantages.
The Blockchain-Based CeBioLabs SCM System
The CeBioLabs supply-chain-management system provides a comprehensive platform for all market players involved in the entire value chain, from seed sowing to the finished product. All information on production, processing, and distribution steps, as well as quality controls and laboratory analyses, will be documented in detail on this platform and can be accessed at any time. In this way, all the players involved will have access to the information that is always relevant to them. Through blockchain technology, all data is stored in a decentralized and immutable manner, making the entire value chain for all cannabis products transparent and traceable. Current problems such as missing or incorrect information and trust issues will thus be a thing of the past.
The CBSL Token as the Center of all CeBioLabs Products and Projects
The company’s CBSL token is linked to all products and systems and is accepted as the primary means of payment for usage fees. The CBSL token, which has been classified as a utility token by the German Federal Financial Supervisory Authority (BaFin), will be integrated as the primary interface in all the company’s projects. User fees for the systems can only be paid in CBSL tokens. The initial sale of the CBSL token will take place in August 2022. All information can be found at www.CeBioLabs.io.