The Quannabu Trust platform intends to create secure CBD supply chains on a digital ledger system that is stored across a wide variety of networks. This means that it has the intention of recording and tracking everything, from hemp-derived CBC moves across the system’s supply stages, where all of the records are individually encrypted as well as secured across a decentralized network of nodes, where seed breeding, as well as cultivation to official products, can test certificates as well as supply transactions.
When combined with the supply chain modules, the core blockchain functions will end up ensuring that all participant’s health and well-being will remain intact within the CBD industry.
Through this combination of governance, standards, and interoperability, the technology provided by Quannabu Trust will enable convenient data publishing and controlled sharing of information, and this provides the solutions for access to a shared view of the entire ecosystem.
The items within the supply chain are loaded quickly and easily by querying various identifiers. These include product names, universal product codes, global trade item numbers, and timeline filters. Quannabu will also store all of the accessible data through blockchain ledgers that are protected through tamper-resistant encryption.
The smart contracts that Quannabu uses consist of lines of code that can execute automatically when predetermined conditions are met. This carries out contractual clauses while storing them on the blockchain.
They enforce agreements in a trustworthy way without the need for any intermediaries. As the processes are increasingly getting digitized, they start to provide a means to optimize many businesses as well as financial processes.
When it comes to Quannabu labs specifically, they will use blockchain-based smart contracts to support the new platform and business relations through transparency within the hemp and CBD industry. The innovative platform will combine ease of use and cost savings with certainty and a high level of security.
These Quannabu smart contracts do come with their own set of benefits.
- Transparency – this is due to the fact that all CBD supply chain activities, including the buying, testing, selling, manufacturing, storage, and even transportation parts of the CBD products are fully tracked and traced on the blockchain platform. Through the incorporation of the smart contracts, will ensure that an extra level of assurance, when servicing wholesalers, or other companies that use Quannabu Labs and other high-grade laboratories can test their products.
- Security – All of the transactional blockchain records are fully encrypted, and this makes them impossible to hack or compromise in any way. For a single file to be changed, the entire chain would need to be altered as each individual record is connected to the previous and subsequent record throughout the distributed network, which, in turn, makes it an impossibility to accomplish.
- Trust – Smart contracts are fully immutable, and as such, they can execute automatically and always act according to their rules, as well as store encrypted transaction records across a shared ledger. This means that there is never any doubt that the information will lack any accuracy level.
- Speed and Accuracy – Smart contracts can truly streamline the business processes by reducing the friction between the parties and the execution of business agreements automatically. All of this guarantees the quality and origin of the information.
- Savings – Patricians trust the visible as well as the technology to execute transactions properly. Smart contracts remove any need for the intermediaries, and the agreement terms are built into the contracts themselves, so there is no additional verification required.
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