B2B Payments

Mile High Labs Targets CBD Supply Chain Friction

Mile High Labs Targets CBD Supply Chain Friction

CBD isolate extractor Mile High Labs is targeting friction in the CBD supply chain through the launch of supply chain management solutions offered by Chain.io, the company said in an announcement on Thursday (April 25).

Mile High Labs is using Chain.io’s platform, a blockchain solution called Vault, to provide proof of authorization and auditing documents. The company is able to upload documents to the platform to provide visibility into its supply chain, making it the first CBD user of Chain.io’s technology.

“In more traditional industries, such as food production and pharmaceuticals, there are legacy systems and long-established ways of thinking,” said Chain.io CEO Brian Glick in a statement. “Because Mile High Labs is building something from scratch, they have an opportunity to do things right the first time and set an example for the rest of the industry to follow.”

In addition to the partnership with Chain.io, Mile High Labs previously launched its Client Portal, another blockchain-powered solution that offers on-demand compliance documentation like safety data sheets, harvest information and certificates of analysis, another initiative to boost transparency and security in its supply chains and allow customers to trace the journey and origin of products.

Blockchain technology helps us aggregate data from all of the systems within our supply chain to ensure no information gets lost or altered as product moves from farm to lab and ultimately into the hands of the customer,” said Mile High Labs Supply Chain Solutions Manager Sébastien Pasquali in another statement.

Mile High Labs is also introducing sensors into its supply chains that can provide customers with real-time tracking of key data including location, tilt, light, temperature, humidity and g-force. The company is also launching pharmaceutical-grade packaging and tamper-evident seals.

“Mile High Labs is providing concrete, factual answers to some of the most prevalent questions that CBD consumers have: Where does my CBD come from? Has it been tampered with? Can I trust the source?” said Mile High Labs CEO Jason Roth, who noted the industry is at risk of “bad actors” thanks to a lack of regulation.

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. In the December 2019 Mobile Card App Adoption Study, PYMNTS surveyed 2,000 U.S. consumers for a reveal of the four most compelling features apps must have to engage users and drive greater adoption.

TRENDING RIGHT NOW