Vermont regulators will track hemp production on the ethereum mainnet in partnership with cannabis supply chain blockchain startup Trace.
The five-year deal, announced Monday by Vermont’s Agency of Agriculture, Food and Markets (VAAFM), is a production-ready solution for every level of the hemp trade, said Trace CEO Josh Decatur. Beginning in March, farmers and processors will begin putting all associated crop data into the Trace system, which runs on ethereum.
It is one of the first times a state regulatory agency has decided to run with the ethereum mainnet, Decatur told CoinDesk in a phone call. The two-year-old company, based in Vermont’s capital Montpelier, has built an app users can share details through, and gas fees for conducting transactions are passed onto the users – in this case, the state government.
Everyone is deriving value from innate blockchain tech – namely the security that comes with public permissionless blockchain technology,” he said.
Vermont’s regulators said this is the first full-scale government registration and licensing system that pairs blockchain with the nascent hemp industry. Hemp was legalized nationally in the 2018 Farm Bill, but Vermont’s program runs under the 2014 edition.
Source: https://sg.news.yahoo.com/finance/news/vermont-turns-home-grown-blockchain-183426245.html
They need to update the news on their website – the last update was 2021 !
