Estimating the value of the legal cannabis market is a highly speculative process. No one knows the true value of cannabis companies today. But with the legalization of marijuana in Canada and some parts of the U.S., market valuations and acquisition deals continue to break records. As valuations continue to skyrocket, the stakes are rising. As such, firms need access to reliable cannabis supply chain tracking technology to effectively manage their inventory. Blockchain technology can uniquely help cannabis companies accomplish this task. Blockchains offer decentralized infrastructure that is both secure and efficient, acting as a necessary tool for developing better supply chain management practices throughout the cannabis industry.
Blockchain-based enterprise solutions are in high demand. And the technology’s capacity for better inventory management, supply chain oversight, and banking + remittance capabilities create a wealth of opportunities that new businesses can exploit. It is roughly estimated that the supply chain blockchain industry will reach $424.24 million by 2023, compounding annually at a rate of 48.37%.
As a direct response to the technological breakthrough of blockchains, there has been an exponential growth in the volume of data that passes through the supply chain. This influx of data leads to data management problems as larger and more intensive servers are now required to keep up with the sheer amount of data being produced and transmitted.
Although blockchain technology presents unique opportunities to business, the requisite knowledge and understanding to take advantage of this new technology has created several barriers to entry for companies looking to use it. Luckily, Multichain Ventures was founded to help companies that want to make use of the extraordinary capabilities that the blockchain affords. As an end-to-end blockchain solution provider for developers, merchants, and crypto companies, Multichain Ventures lends your business all of the technical expertise needed to leverage the benefits of blockchain, without having a blockchain specialist on your core team.
What is Multichain Ventures?
Multichain Ventures enables existing businesses to leverage blockchain technology on a day-to-day basis, helping stakeholders contextualize the enterprise potential of blockchain while simultaneously increasing adoption. It is the parent company of several underlying entities: Cubed, EDEN, the Tokes Platform, and Reli.cloud. These subsidiaries produce blockchain-based products including, but not restricted to, supply chain visibility tools and cryptocurrency payment services. Multichain Ventures is a universal crypto merchant solutions provider with an integrated ecosystem where the TKS Token acts as a unit of exchange, making it easier for retailers, regulators, and consumers to seamlessly transfer value.
Backed by a team of blockchain experts, Multichain Ventures leverages the bleeding-edge of open-source technology. The company boasts professionals with extensive blockchain technology experience that helped them in the design of exceptionally secure and reliable nodes. Multichain Ventures’ experts have a thorough understanding of ledger technology and can offer a stable, efficient, and secure blockchain ledger for nearly any system that requires one.
What is Tokes (TKS)?
The Tokes Platform offers an ecosystem of cryptocurrency payment processing services for the legal cannabis industry including eCommerce integrations, cryptocurrency point of sale solutions (POS), mobile wallets, and Smart ATM integrations for the in-store acquisition of tokens. Originally positioned for the cannabis industry, Tokes has evolved into a versatile application that can be integrated within any other high-risk vertical.
The Tokes digital currency platform, as part of the larger socio-economic movement of cryptocurrencies, empowers stakeholders within the cannabis industry by providing them the financial freedom they cannot obtain through the existing banking infrastructure. The need for cryptocurrencies arises from federal laws in the United States making the sale and possession of cannabis illegal. Banks beholden to these laws are unwilling to provide their services to companies operating legally in their local or state jurisdictions. The Tokes Platform offers a digital solution to this problem through the TKS Token which acts as the unit of exchange across all of Multichain Ventures’ enterprise tools. Stakeholders in the cannabis space can now engage with their various partners through the use of Tokes and the TKS Token.
Moreover, the Tokes platform offers several forms of B2B functionality. Most notably, the Tokes Platform aims to provide supply chain management solutions to cannabis, and other labor-intensive industries that involve numerous stakeholders during a product’s lifecycle. Tokes builds transparent ‘track and trace’ blockchains solutions that follow cannabis goods from seed-to-sale, ensuring best practices are met, and that all stakeholders have been compensated appropriately.
How does it work?
The application includes the digital Tokes Wallet and the Tokes Merchant Gateway software that offers a point of sale application for the cannabis industry to accept TKS tokens, tokenized assets and other cryptocurrencies in lieu of cash payments. Consumers can either load the digital wallet on their smartphones prior to visiting a seller or make use of an in-store kiosk. This process provides a verifiable history of all the transactions on the blockchain, and yields auditable, fast and inexpensive transactions, combatting the cash-handling liability of the merchant and the customer.
The Tokes Platform can help companies effortlessly manage and regulate supply chain inputs and outputs in real-time. Data is by far the most prized commodity and the most critical asset for a company to keep secure and Tokes was developed from the ground up with this fact in mind. Additionally, Tokes provides a secure and reliable API network that will pave the path for testing providers, growing facilities, software developers and other supply chain platforms that will contribute to building cannabis-centric applications.
What is Reli.Cloud?
As a sister company to Multichain Ventures, reli.cloud is a managed DevOps service leveraging containerized cloud computing infrastructure for highly scalable and available applications using cutting edge open-source technology. Reli.cloud is responsible for hosting all products within the Multichain Ventures ecosystem. Reli.cloud’s containerized solutions are of huge benefit for cloud computing. They are lightweight by design, have the ability to accommodate platform differences, and allow for applications to move between different cloud infrastructures without having to undergo major changes that could result in damaging downtimes.
How does it work?
If you are keen on building a Kubernetes-based infrastructure, reli.cloud is the perfect solution for you. Reli.cloud is stack-agnostic as it uses Docker containers that reduce deployment inefficiencies.
Reli.cloud also handles Site Reliability Engineering thereby allowing you to build next-generation applications without adding to your DevOps team. Your team could easily improve their efficiency and shorten development cycles through Reli’s containerized services.
Additionally, the PaaS works on both AWS (Amazon Web Services), and GCO (Google Cloud platform). Reli is all about versatility and flexibility. If you wish, you can easily launch GKE, EKS and AKS clusters, deploy new ones from scratch or import existing Kubernetes clusters across different cloud servers. The platform is renowned for its ability to interface with multiple hosting providers. Leaders across different industries already rely on rel.cloud to maximize product uptime, resources, and efficiencies.
What is Cubed?
Cubed, is Multichain Ventures’ industry-agnostic digital currency payment processing suite. Cubed also offers bespoke and white-label solutions for various retail sectors and customer segments. Cubed builds payment processing software for cryptocurrency adoption for both eCommerce and brick-and-mortar businesses. This includes point of sale software, payment APIs, web checkout components, consumer wallets, custom block explorers with efficient integration to existing CRM software and popular inventory management tools.
How does it work?
With an easy setup, you can integrate digital currency payments into your business with very little downtime and very low up-front costs, giving you all the features you need in a cryptocurrency checkout option. Cubed offers easy-to-use digital currency payment on-ramps which are also available as a custom branded solution for your business. The Cubed Merchant Gateway offers a convenient consumer checkout solution for customers making payments in crypto, in addition to analytics, inventory management, and eCommerce integrations. If you have both online and brick-and-mortar, you can use the same inventory as your brick-and-mortar or set up your online inventory as a standalone option. With Cubed eCommerce solutions, you can now integrate effortlessly with your existing web store with support for leading eCommerce solutions like Shopify.
What is Eden?
EPCIS decentralized Network, or EDEN, is your user-friendly, blockchain secured toolset. EDEN provides supply chain visibility tools utilizing blockchain for data storage and verification of the provenance of goods. The Tokes Platform serves as a sales arm of EDEN’s deployable blockchain specifically for the legal cannabis vertical. However, EDEN is a fundamentally industry-agnostic toolset that can radically enhance supply chain visibility for any type of company.
How does it work?
Often centralized data storage facilities for supply chain logistics are susceptible to data loss. EDEN leverages current global data tracking standards with a blockchain integration to heighten the accuracy of supply chain data. EDEN meticulously decentralizes this data thereby preventing parties from unforeseen data alteration. It uses the GS1 compliant EPCIS (Electronic Product Code Information Services) standard for all data within the framework, easing business onboarding to the blockchain.
The Core Business Vocabulary (CBV) of GS1 states how objects within a supply chain are labeled. It also specifies their values within the EPCIS standard. In order to accommodate all businesses’ needs, EDEN can also accommodate industry-specific variables.
Final Thoughts
In the cannabis industry, there is a growing need for assured exchange of products and meticulous scrutiny of logistics while protecting privacy and eliminating fraud. Since large sections of the cannabis market are still unregulated, one of the definitive supply chain solutions for cannabis firms would be a secure and fully integrated blockchain platform to effectively register and track cannabis IP from genome to sale. Legally licensed cannabis growers and sellers will get their money’s worth with such a solution.
The integration of blockchain technology into cannabis supply chains will easily make information accessible and modifiable at any point in the product’s lifecycle. There are various factors that are driving the growth of blockchains: enhanced immutability and transparency capabilities coupled with increasing security concerns and constantly-improving smart contracts. Being able to provide producers, purchasers, and consumers with lab-certified information will lead to the creation of a mutually beneficial ecosystem.
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