Business
LiveWire Ergogenics’ 7X Pure Cannabis Compliance and Dosage Verification System to Run on Blockchain Technology
LiveWire Ergogenics’ 7X Pure Cannabis Compliance and Dosage Verification System to Run on Blockchain Technology.
About this update from Livewire Ergogenics, Inc.
[{"type":"text","content":"\n\n Anaheim,CA, Jan. 30, 2018 (GLOBE NEWSWIRE) -- LiveWire Ergogenics, Inc. (OTC: LVVV) today announced that it will be using blockchain technology to create a completely secure system for cannabis compliance and dosage verification. The company, which focuses on research partnerships, product development, acquisition, and management of turnkey production facilities for cannabis-based products and services, will be applying blockchain’s decentralized ledger technology to its 7X Pure Cannabis Compliance and Dosage Verification System. Respected blockchain technology expert Leon Fleyshman has been named the Senior Advisor for this project. \n LiveWire Ergogenics’ 7X Pure Cannabis Compliance and Dosage Verification System provides third party verification of cannabis material origin, potency, purity, dosage, labeling and more, and then secures each product with a digital identity and clearly identifiable chain of custody. The use of blockchain technology will make the 7X Pure system completely secure, transparent and verifiable. LiveWire Ergogenics will be able to protect the confidentiality of growers’ and manufacturers’ intellectual property while providing retailers, consumers, government officials and others verification that the growers’ and manufacturers’ claims are true. “On the blockchain every iteration of every piece of data automatically contains all prior iterations as well,” explains Mr. Fleyshman, “and every new data entry is immediately processed, confirmed and stored by numerous computers around the world. The result is a tamper-proof system that provides a reliability factor that just doesn’t exist with any other technology.” The 7X Pure verification system, which is designed as a parallel service to the seed-to-sale data provided by marijuana tracking software, will help growers and manufacturers meet increasing compliance requirements related to logistics, quality and transparency. It will also provide a high level of assurance to everyone from end users to municipalities, who will be able to enter a lot code into a website to quickly confirm that a product’s claims regarding material origin, potency, purity, dosage and more have all been properly verified. The 7X Pure system utilizing blockchain technology will also serve as the backbone fo...