Short Description: Greenblock is a cryptocurrency and a blockchain based data ecosystem for the global hemp & cannabis industry.
Category: Tokens Cryptocurrency
Blockchain = Shared Database
Blockchain was first used in bitcoin—digital currency operating independently of a central bank. The blockchain technology that underpins bitcoin is proving to offer valuable benefits to use in cases outside of the financial world. Casting the catchy buzzword aside, blockchainat its core is a shared database. Many industry veterans already know that shared databases have benefits, but what makes blockchain special is that it is a distributed ledger. There is no single point of failure in a distributed ledger—it is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites.This decentralized structure makes the data resilient to a technology or organizational failure.This, in theory, could significantly change the way companies access and store important documents and transactional histories. For instance, in developing countries, where paper documents can be destroyed in a natural disaster, or electronic copies can be lost in unstable economic conditions, blockchain represents a huge opportunity for consistency.For the past few years, technology providers like IBM and Microsoft have been focusing on taking blockchain from being a public ledger to an enterprise solution designed to solve supply chain problems. Enterprise blockchains are decentralized in nature, meaning there is no one central point to hack, and support multiple levels of permissions for robust securityaround who can write to and read from the ledger.
Greenblock blockchain traceability.
Greenblock is A Blockchain Based Data Ecosystem for the Global hemp and cannabis Industry.The hemp and cannabis industry is on the verge of a massive transition.In recent decades, almost every agricultural industry has used data to drive efficiency and innovation Blockchain Based Traceability for the hemp and cannabis Industry In order to address the needs of the many stakeholders involved such as growers, processors, retailers, consumers, exporters, and even governments, the hemp and cannabis industry needs an interoperablesystem that is able to provide the appropriate data for each respective entity in a way that is trusted, transparent, and secure. Blockchain presents an ideal solution for many of these challenges, while a token ecosystem solves the essential challenge of creating appropriate incentives for those making the extra effort to capture data. Greenblock EcosystemIn this respect, the Greenblock Ecosystem creates a mechanism for rewarding hemp and cannabis producers and supply chain intermediaries through micro-transactions, creating a virtuous cycle for sustainable practices that extends beyond government mandates for traceability. Greenblock tokens are not meant to be a currency for trading hemp and cannabis.Instead, Greenblock tokens provide a mechanism for incentivizing data capture and transmission in various forms. Incentivizing Data Capture within Supply Chains By creating the appropriate reward structure for data capture along with an interoperable platform, the Greenblock Ecosystem will allow for makers of third party tools such as Internet of Things (IoT) sensors and other data inputs to participate in the ecosystem and be rewarded accordingly. This will drive more data feeds into the ecosystem and ultimately allow hemp and cannabis buyers to have a better understanding of the actual metrics that impact safety and quality, including, but not limited to, conditions from harvest to consumption, and pesticide and toxins screening. The end result will be hemp and cannabis buyers having the right quantity and quality of information to make better decisions, governments being better able to manage the industry using up to date data, and producers and intermediaries being rewarded for data capture and responsible behavior.
The Importance of Understanding RealTrade
While there are other blockchain based traceability platforms that have emerged to address the very real supply chain problems that span industries, the hemp and cannabis industry in particular has unique needs that can only be addressed by those with insider knowledge based on the realities of actual trade. This is where the Greenblock team is uniquely qualified to design and develop the Greenblock Ecosystem because of their decades of experience advising and trading in the hemp and cannabis industry. This ongoing trade serves as a model and use case for a range of technologies developed and used by the Greenblock team and their partners.
Below are some examples of these technologies:
- Plan protection, forecast and prognosis
- Spray drift warning
- Frost warning
- Storage monitoring with warning function