sabqie: CannaCor

CannaCor and Blockchain Corporation have engaged in a collaboration to position themselves to become global leaders in cannabis research, cultivation, processing and distribution, as well as the implementation of blockchain technologies for purposes of cannabis life cycle and supply chain management. They aspire to lead, legitimize and define the future of the industry by building the world’s most trusted blockchain-based cannabis company. This venture includes the establishment of a unique aquaponics cultivation and production facility in Lesotho to supply the global market. This document provides details on the contribution of both parties to this venture including an Initial Coin Offering (ICO) and how this will impact on their operation. A brief introduction to the medical cannabis industry is included providing information on the medical benefits of cannabis, the growth potential of the cannabis market and the legalization of the industry.

BLOCKCHAIN CORPORATION

The Blockchain Corporation team is committed to solving problems in the medical cannabis industry and focusing attention on implementing real-world solutions to ensure consistent crop growth of excellent quality and quantity. It aspires to streamline the cultivation life cycle of the cannabis crop and deliver pinpoint supply chain solutions to enhance product traceability. Blockchain Corporation will do this by positioning itself as an early adopter and implementer of a combination of Blockchain and Hyperledger technologies to manage the medical cannabis production life cycle and supply chain. Key focus areas are cultivation life cycle management and supply chain management.

WHY HYPERLEDGER FABRIC?

Blockchain Corporation believes that by using all the beneficial aspects of Hyperledger Fabric, the tracking process will not only be transparent but will have all the qualities to make it the best technology for tracking. Hyperledger is the most apt fit for operations due to the flexibility offered. Moving away from anonymity to complete transparency and easy tracking is ideal for this project.

The whole process is divided into different phases:

Phase 1- Production life cycle management

Through the use of Hyperledger blockchain we can be sure of transparency in tracking and tracing the cannabis plant. The whole production life cycle will begin with feeding data to the blockchain. The first phase of the process will cover production to packaging.

Phase 2 – Supply chain management

Once the packaged goods are ready to be shipped to the end users (in this case, the retailers), they move further through QR code scans and other quality checks. All this will be updated in the Hyperledger as soon as the process takes place. The final part of this phase is when the packaged goods reach the respective retailers for further usage.

HOW DOES IT WORK?

The CannaCor coin is created on the Ethereum network.

The CannaCor cryptocurrency is sold to the public by means of ICO.

Funds raised during the ICO will be used to build the cultivation facility and to develop the blockchain and its applications.

Coins will be distributed to participants within 30 days after the ICO.

Accepted currencies to buy the Cannacor Coin are Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP).

CONSENSUS

Transactions must be written to the ledger in the order in which they occur, even though they might be between different sets of participants within the network. For this to happen, the order of transactions must be established, and a method must be put in place to reject bad transactions that have been inserted into the ledger in error or maliciously

GOOD MANUFACTURING PRACTICES (GMP) RELATED TO MEDICAL CANNABIS AND RELATED PRODUCTS

CannaCor will take all the steps required to build the cannabis production plant according to Good Manufacturing Practices (GMP). Quality, safety and efficacy requirements will be taken into consideration in the cultivation, harvesting and primary processing of cannabis plants intended for medicinal use or in the preparation of non-sterile medicinal cannabis products.

Medicinal cannabis includes:

Cannabis

Cannabis materials

Cannabis preparations

Finished cannabis products.

FEATURES

Blockchain Track and Trace Features

The Blockchain provides the utmost transparency in the decentralized recording of data and ensures the records of the platform is secure, transparent, verifiable and immutable.

Cannabis Cultivation cycle ManagementThe blockchain and applications will be used to coordinate the activities required to accept raw materials, manufacture the product, test for quality, package for shipping and schedule for delivery. Our aim is to measure and capture the quality of our products, production output and worker productivity to ensure the enterprise creates products that meet quality standards.

Cannabis Supply Chain ManagementSupply chain management is the handling of the entire production flow of the CannaCor products — starting from seed planting all the way to delivering the final product to the consumer. To accomplish this task, CannaCor will create a network of processes that moves the product along from the suppliers of raw materials to the organizations which deal directly with users

Regulatory and Compliance ManagementRegulators require detailed information regarding a medical cannabis cultivator’s business: where the product comes from, the results of any testing that has been done, the specified amount produced, and distribution. Our aim is to establish support processes to monitor information throughout the supply chain and ensure compliance with all regulations

SMART CONTRACTS

Hyperledger Fabric Smart contracts are written in chain code and are invoked by an application external to the blockchain when that application needs to interact with the ledger. In most cases, chain code interacts only with the database component of the ledger, the world state (querying it, for example), and not the transaction log. Chain code can be implemented in several programming languages. Currently, Go and Node are supported.

TOKENOMICS

The CannaCor coin is an ERC20 coin created on the Ethereum Blockchain. CannaCor decided to use Ethereum because it has already been adopted by the masses and allows the CannaCor coin to participate in mainstream activities. Ethereum is a fast, decentralized and immutable blockchain. CannaCor will strive to achieve mass adoption in the medical cannabis sector by offering solutions that address the issues pertaining to cross-border transactions. We aim to offer solutions for the lack of banking and payment services for legal cannabis businesses.

COIN DETAILS

The CannaCor coin is an ERC20 based on the Ethereum Blockchain. ERC20 is an official protocol for proposing improvements to the Ethereum (ETH) network and can be understood as a standard for coins that are created on the Ethereum blockchain. The ERC20 coin standard makes it easier to exchange one ERC20 coin for another, and to integrate various ERC20 coins into platforms such as blockchain wallets and exchanges, and more.