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LGC Launches Initiative to Establish Global Cannabis Blockchain Platform
LGC Launches Initiative to Establish Global Cannabis Blockchain Platform Canada Ne...
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[{"type":"text","content":"\n\n\n\nLGC Launches Initiative to Establish Global Cannabis Blockchain Platform\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Jan. 16, 2018\n\n\n\nLGC Capital Ltd.Symbol: TSX-V: LG\n\nHighlights\n\n\nLGC is implementing a strategy to create a new workable and transparent global cannabis supply chain platform.\nThe platform will be aimed at enabling a global transparent payment record for cannabis product, supply and payment.\nThe goal is to provide a new efficient platform that can be used for regulatory compliance purposes with government entities, give assurance to consumers on product sourcing and quality, and offer an efficient and compliant payment infrastructure for producers and retailers.\nLGC is planning to use blockchain technology to provide a reliable and global supply chain register and smart contract framework, and to use Internet of Things (\"IOT\") technologies to track physical product across the supply chain.\n\n\nMONTREAL, Jan. 16, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it is launching a new subsidiary company to specifically engage in the development of an efficient global marketplace technology platform designed to help producers, value-added processors and retailers in selling, and consumers in accessing, cannabis product. LGC will focus on providing a traceable and verifiable platform, thereby enabling producers to have an efficient payment mechanism that replaces current ad hoc cash-based payments and that will be fully compliant with all relevant jurisdictional regulations.\n\n\n \n \n\n \nThe platform will utilize the latest blockchain technologies to create a reliable and verifiable purchase and payment system and use Internet of Things (\"IOT\") technologies to track cannabis product shipments so as to provide assurance to consumers regarding the sourcing and quality of products.\n\nJohn McMullen, CEO of LGC states, \"LGC is rapidly growing its legal cannabis footprint around the world with each country having its own regulatory framework, transparency and banking c...