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Introduction to Quannabu

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by Andy Watson · 4 min read
Introduction to Quannabu
Photo: Unsplash

Quannabu will use blockchain to minimize production and operation costs by eliminating unnecessary intermediaries within the supply chain and promoting the quality of the production itself.

Quannabu attempts to solve a lot of issues when it comes to marijuana, which has been the topic of many controversial online discussions; however, one factor remains, and that is the fact that it is one of the safest plants out there with healing properties that have been known for centuries, and only recently were proven through scientific research. This resulted in the demand for CBD within the health and wellness industry to truly reach an all-time record, sky-rocketing to the top.

As a result of this, global acceptance has also gotten higher, especially throughout the latest government approvals, which play a major role that can translate well to market growth. It can even boost the production of CBD-infused products, and through Quannabu, the industry will end up becoming modernized. This will be done through the adoption of blockchain technology that can add an additional level of trust as well as transparency when it comes to the current ecosystem, and operate frictionless payment solutions for all industry players, as these products end up moving along the supply chain.

When it comes to Cannabidiol or CBD, it is essentially this chemical compound from the Cannabis Sativa plant which is known as marijuana or hemp. It is valued at USD 2.8 billion in 2020, with revenues expected to reach $13.4 billion by 2028.

When it comes to an industry such as this one, the security and the trust, and transparency that blockchain can offer can be a crucial part of ensuring that the market will continue growing.

In other words, Quannabu can offer the following advantages:

  • Source Information Tracing
  • Payment Solutions
  • Supply Chain Monitoring
  • Certified Test Results
  • Industry Growth

Quannabu intends to address some of the many challenges that the CBG growth industry faces on a regular basis, and specifically help with the development and application of four integrated platforms alongside services.

These are:

  • The Quannabu Trust – blockchain technology will be used to create a transparent and trustworthy CBD supply chain and open access to certified supply chain data to increase visibility and empower consumers, retailers, and manufacturers.
  • The Quannabu Labs – custom-building a cutting-edge CBD manufacturing and testing laboratory that is capable of offering unrivaled assurances and certifications.
  • The Quannabu Pay – This is a frictionless blockchain payment platform where businesses and consumers will quickly and easily be able to transfer funds that are verified. This is one of the best ways to solve the current banking and payment issues surrounding the market growth.
  • The Quannabu Grow – This is intended to help satisfy the rapid growth as well as demand for pharmaceutical-grade hemp, through the establishment of its own hemp farms. Through the certified testing equipment, Quannabu has the ability to consistently and accurately test the crops.

The true value of blockchain technologies comes in that they can enhance trust when it comes to record-keeping and financial transactions. This is a shared, immutable ledger that facilitates the process of recording transactions as well as tracking assets throughout a decentralized network.

Anything of value can be tracked, as well as traded on a blockchain network, and this, in turn, will result in the reduction of risks as well as cutting costs for everyone involved.

You also have the Quannabu ecosystem, where the entire supply chain operation from harvesting to manufacturing and even testing and storing, will be integrated, and all of the members will use the platform to promote daily activities across the supply chain in a quick and efficient way. Quannabu will also use blockchain to minimize production and operation costs by eliminating unnecessary intermediaries within the supply chain and promoting the quality of the production itself.

Join our community and get more information about QuannabuLab.

Blockchain News, News
Andy Watson
Author Andy Watson

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