Don't worry, we speak : Español (Spanish), too!
Contxto – Yesterday, we stressed that blockchain technology yields the potential to improve practically any industry, even construction. This is especially true when it comes to transparency and reliability. We weren’t exaggerating, either, when we said that this field has major potential in Latin America.
Confirming this is Uruguay Can from Montevideo. Recently, news broke that the company will cooperate with Aeternity from Liechtenstein. Together, they will develop a “supply chain management platform” for the marijuana industry.
Marijuana blockchain solution
Moving forward, Uruguay Can plans to develop a decentralized encryption application (DApp) with Aeternity’s infrastructure. Since Aeternity offers blockchain technology solutions such as smart contracts and application development to partners, this pairing makes sense.
According to a press release from September 25, the two entities will begin collaborating in October until January 2020. The premise of the partnership is for Aeternity to assist Uruguay Can in monitoring and tracking cannabis production with its technology, including IoT devices and DApps.
Under this model, Uruguay Can will be able to track everything from the seed stages to final end-consumer products. For Uruguay Can CEO Eduardo Blasina, this is a tremendous milestone for the South American nation.
“We are proud to be the first company in Uruguay that can guarantee the quality of our products in a transparent and verifiable way,” said Blasina.
“The ability to trace the source and the way cannabis is produced is beneficial for both the cannabis and pharmaceutical industry as well as its consumers and end-users, who should feel more secure about the product that they are consuming.”
With that said, now Aeternity must develop the program for Uruguay Can. Specifically, the marijuana industry is a sector where Aeternity believes it could greatly contribute.
“We want to be the first to offer a business-level solution in partnership with leading technology providers and cannabis producers, processors and distributors,” said Aeternity Americas CEO Pablo Coirolo.
“Aeternity technology is ideal for tracking the entire cannabis production process, from seed to full plant growth, throughout the entire supply chain, which ensures consumer safety while complying with regulations.”
Despite its small size, Uruguay has one of the most progressive political systems in the world. In December 2013, the country of 3.4 million became the first to completely legalize marijuana production and sales. Today, it is available in practically any pharmacy.
Further demonstrating Uruguay’s progressive politics are recent “liquid democracy” initiatives, also supported by Aeternity. That’s to say, the European company has linked up with the Uruguay Digital Party to offer blockchain-powered voting and democratic processes.
Under this system, more citizens will reportedly be able to participate in the country’s political system in a clear and decentralized manner. According to Cointelegraph, this model will also encompass digital tokens and smart contracts for internal governance purposes.