Medical cannabis continues to gain mainstream acceptance, but it faces far more hurdles compared to traditional pharmaceuticals. These can primarily be summarized into two main categories: rapidly evolving legal regulations and managing consistency in plant-based medicines.
Clearing these hurdles requires the right coordination of systems and an effective use of technology, which can be propelled by an innovation such as blockchain. It’s an incredibly effective solution for keeping track of legal regulations, managing the many subtle variations that can exist between cannabis yields, and otherwise providing a safe and effective means of distributing medical cannabis.
How Blockchain Works
Blockchain is still best known for being the technological underpinning of Bitcoin, but its applications reach far beyond this popular cryptocurrency. At its core, it is a powerfully effective database where every single transaction is identified by a unique code, making it an ideal system for ensuring legitimacy and honesty in the digital space. Think of it as a virtual ledger that cannot be altered without leaving a permanent record.
How Can the CBD Industry Use This Technology?
Consistency, security, and accountability are all essential for distributing cannabis in a pharmacy setting, which is easy to enforce when using blockchain technology. It can help pharmacies adopt the sale of cannabis products, accurately measuring properties such as the content of THC (tetrahydrocannabinol, a psychoactive and intoxicating cannabinoid); CBD (cannabidiol, which is a non-intoxicating compound famed for its pain-reducing capabilities); or other minor cannabinoids, terpenes, and beneficial compounds.
Pharmacies can use blockchain to create a trusted, centralized database for key consumer information. This includes tracking potency, THC and CBD levels, terpene profiles, organic status, pesticide usage, and even variation between batches. Blockchain updates happen in real time, so healthcare professionals can trust this database to always be up to date. All this scientifically accurate and reliable information facilitates easier, more consistent dosage. It also gives pharmacists the tools to track and compensate for any variations in products or batches, solving one of the biggest puzzles of prescription cannabis.
The healthcare industry is highly regulated and complex. Introducing a revolutionary change like medical cannabis requires sweeping, innovative solutions. A comprehensive ecosystem, secured by blockchain can help legislation catch up, and keep up, with all the rapid developments in cannabis-based medicine. For pharmacies, implementing blockchain can help present a wider array of treatment options to patients, helping them find exactly what works for their needs.
Blockchain is the most effective technology that can securely provide such a comprehensive source of data. As medical cannabis continues to gain acceptance, such a system will be essential for giving pharmacies everything they need to match patients with medical cannabis products. Carefully tracking the many components of cannabis-based medicine is the only way to accurately provide for the health and wellness needs of patients.