Blockchain trailing startup TruTrace Technologies INC. partnered with Big Four auditing firm Deloitte to trace cannabis using blockchain technology.

Investing news outlet ProactiveInvestors reported on Sept. 4 that TruTrace is launching its StrainSecure product in partnership with Deloitte. The system in question reportedly employs blockchain technology to trace cannabis from seed to sale, so as to ensure that customers and retailers understand the history of the merchandise.

TruTrace CEO Robert Galarza stated that the new system can bring additional transparency to the cannabis business.

The partnership with Deloitte can supposedly facilitate the merchandise reach a wider base of stakeholders since the firm claims to serve 80th of Fortune world 500 firms through its network of member companies worldwide.

Blockchain tech for cannabis supply chains

This is not the primary initiative that aims to use decentralized ledger technologies within the cannabis business. As Top Market Group according yesterday, Australian Securities Exchange-listed firm Security Matters has filed a application within the U.S. for a blockchain system to firmly manage the cannabis supply chain.

In June, Canadian pharmacy chain Shoppers Drug mart partnered with TruTrace to launch a pilot program for the cannabis provide chain. The program will track numerous medical cannabis strains and can supposedly permit doctors to issue more effective prescriptions and supply higher info for medical marijuana clinical trials.

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