Santo Blockchain Labs, a Blockchain-as-a-Service (BaaS) firm, has announced a new initiative to incorporate non-fungible token (NFT) technology into cannabis seed traceability through a collaboration with Planta Vida on the CHIMBA blockchain. The project aims to create a cannabis NFT clone authentication and traceability smart contract that offers features such as NFT creation, seed certification, NFT ownership transfer, and supply chain tracking, among others. Verification and authentication are also significant components of the project.
The Key Role of DNATags QR Software in Creating Uniquely Designed NFTs
Frank Yglesias, the CEO of Santo Blockchain Labs, explains that DNATags QR software is critical in creating uniquely designed NFTs that will certify and authenticate clone cannabis seeds. The marketplace for these NFTs will be the CHIMBA NFT Mercado, with an expected launch in the third quarter of 2023.
Planta Vida’s Significant Role in the Project
Planta Vida plays a significant role in the project as the organization holds a license for 116 hectares of land in Yacopi, Cundinamarca, Colombia, designated for cultivating both psychoactive and non-psychoactive cannabis. Additionally, Planta Vida provides the growing cannabis market with safe, ecologically friendly wellness products. The company offers employment and social benefits to the community, such as education, health, housing, and security.
The Importance of CHIMBA Blockchain
CHIMBA blockchain technology is central to the project as it is Colombia’s first layer-one blockchain, developed on the COSMOS NETWORK to empower local developers. It provides a decentralized network that enables the creation of applications or independent blockchains in the CHIMBA ecosystem.
The project by Santo Blockchain Labs and Planta Vida highlights the adaptability of blockchain technology, bringing NFTs to the forefront of the cannabis industry. By implementing NFTs for cannabis seed traceability, it points to the wide-ranging potential uses of NFTs beyond their common application in digital art and collectibles. This development could impact various industries by providing authentication, certification, and supply chain tracking solutions. As more sectors discover the unique capabilities of NFTs, we are sure to see even more applications in the future.