BTC Wires: Paragon, a company specialising in seed-to-sale tracking applications
BTC Wires: Paragon, a company specialising in seed-to-sale tracking applications for the marijuana space over blockchain, is partnering with digital identity company Civic Technologies Inc. to introduce higher levels of identification, accountability and transparency in the marijuana business. When CEO and former lingerie model Jessica VerSteeg founded Paragon in the wake of a personal tragedy involving unavailability of medical marijuana, she had wanted to make marijuana supply easier and more credible to the consumers shelling out their cash to get high. Now she’s trying to use blockchain even further, to provide tracking services to the cannabis industry. Consumers can now use their Government IDs or even driver’s licenses for ID verification on the platform. This will make sure of both accountabilities to Government regulations as well as compliance with Paragon’s own age restrictions. As VerSteeg stated, this move will ensure user accountability, which will consequently enhance the industry’s trust dividend. For example, in case there’s a need to verify the customer’s age at a dispensary, this ID system would come in handy.
VerSteeg, who is deeply passionate about the need to ensure the reliability of the products dispatched, has detailed in an interview to a crypto news outlet how an event had prompted her to take note of how often suppliers made false claims that were not consonant with the lab results. This need to track all products on the blockchain made her establish Paragon and now she’s trying to take on the threat of seed-to-sale tracking software being compromised. She said that this problem cripples the entire supply chain and consumers often end up receiving products that are entirely wrong or inaccurately described.
By using smart contracts and applying a blockchain solution, now it has become possible to track the immutable records of every marijuana transaction that occurs within the industry. This makes sure that the customers get their money’s worth and the system remains within the ambit of state and federal regulations.
As medical, as well as recreational use of marijuana is being increasingly legalized across the world, it’s become more important than ever to make sure that the industry is playing by the rules. Paragon is trying to create a secure platform to make sure that every element in the supply chain can deal with one another in good faith.
Besides this collaboration, Paragon is also gearing up to launch phase 1 of its fresh mobile app. Customers will become able to access a Paragon wallet via their cellphone app through which they can make and receive payments to and from people and entities operating within the cannabis industry.