A groundbreaking initiative has been unveiled by Santo Blockchain Labs, a leading Blockchain-as-a-Service (BaaS) company. Their latest endeavor involves the creation of an authentication and traceability smart contract for cannabis Non-Fungible Tokens (NFTs). Partnering with Planta Vida, this innovative project will be hosted on the CHIMBA blockchain.
The main objective is to integrate NFT technology into cannabis seed traceability, offering a wide range of functionalities. These include NFT generation, seed certification, ownership transfer, supply chain tracking, and more. Emphasizing the significance of verification and authentication, this endeavor seeks to revolutionize the cannabis industry.
Santo Blockchain Labs’ CEO, Frank Yglesias, highlighted the crucial role of their DNATags QR software in this endeavor. By leveraging this tool, they aim to create uniquely designed NFTs that certify and authenticate clone cannabis seeds. The marketplace for these NFTs will be the CHIMBA NFT Mercado, scheduled for launch in the third quarter of 2023.
Planta Vida also plays a pivotal role in this project. With a license for 116 hectares of land in Yacopi, Cundinamarca, Colombia, they are poised to cultivate both psychoactive and non-psychoactive cannabis. Moreover, Planta Vida provides the growing cannabis market with environmentally friendly wellness products while offering various social benefits to the community, including education, healthcare, housing, and security.
Central to this endeavor is the CHIMBA blockchain, Colombia’s first layer-one blockchain built on the COSMOS NETWORK. The CHIMBA ecosystem empowers local developers by providing a decentralized network that facilitates the creation of applications and independent blockchains.
The initiative led by Santo Blockchain Labs showcases yet another application of NFT technology, this time within the cannabis industry. By utilizing NFTs for cannabis seed traceability, this project not only demonstrates the versatility of blockchain technology but also highlights the extensive potential uses of NFTs beyond their traditional role in digital art and collectibles.
The development holds the promise of impacting various industries by offering solutions for authentication, certification, and supply chain tracking. As more sectors uncover the unique capabilities of NFTs, we can anticipate an array of innovative applications in the future.