Theracann International Benchmark Corporation (“Theracann”), a full-service international cannabis consultancy and technology firm in conjunction CannAcubed Pte Ltd (CannAcubed), a pioneer in the China cannabis space with focus on building the world’s largest diversified cannabis operations, announced today an agreement focused on the implementation of Theracann’s molecular tagging ETCH biotrace™ technology for the industrial hemp and cannabinoid markets in China.
TheraCann’s ETCH biotrace platform uses both a physical molecular taggent and non-appendable distributed ledger (blockchain) to provide forensic levels of traceability of cannabis and cannabis derivatives at any point in the supply chain. Whether it is introduced at the farmer, processor, manufacturer, or at packaging, ETCH biotrace links a unique molecular tag to the cannabis plant that will survive extraction or conversion into new products within the supply chain.
The rapid global adoption of cannabis legislation has accelerated the need to secure and truly validate cannabis supply. Current systems, many of which rely on RFID or bar code technologies, are capable of accurately tracking cannabis supply chains through the cultivation stage but cannot forensically track cannabis and/or hemp derivative products back to a specific source once the physical tags and packaging are removed or the product is mixed with other suppliers.
“CannAcubed’s focus will be from tracking inception of an individual plant or crop, through harvest, processing, and distribution, all the way to the point of sale to the patient,” said Glenn Davies, Chief Executive Officer at CannAcubed. “This collaboration with Theracann and ETCH biotrace provides visibility into the cannabis ‘chain of custody’, tracking cannabis supply chains with the ultimate aim to create a successful, sustainable and professional cannabis industry that is legitimately, safely and responsibly bringing cannabis to China, and the world.”
“Theracann is excited to fully introduce this breakthrough technology to the Chinese market. Global regulatory bodies, large industrial hemp producers and cannabis brands have been somewhat limited by their reliance on traditional “seed to sale” systems,” said Jason Warnock, Chief Executive Officer of Theracann International Benchmark Corporation. “The size and scale of these industrial markets require new and more complete solutions to facility global commerce in the sector.”
“The base technology behind ETCH biotrace has enjoyed a long and proven track record in the cotton industry and other global supply chains,” said Dr. James Hayward, President and CEO of Applied DNA Sciences and partner to TheraCann on the technology; “The molecular tags used in the ETCH biotrace system are considered GRAS (Generally Recognized as Safe). The ETCH molecular tags are very small; too small to function as genes and are non-GMO. Tags are typically applied at a ratio of parts per billion, levels too low to have any impact on form or function, or the biological properties of cannabis or hemp. The opportunity to supply molecular taggent to TheraCann on a large commercial scale to support the CannAcubed project leverages our core competency in large scale taggant supply and authentication.”
The CannAcubed project has been granted large scale areas of land to cultivate, process, manufacture and export industrial hemp in all its forms. Once complete, it will position CannAcubed as one of the world’s largest suppliers and validators of high-grade pure CBD Oil, and Pharmaceutical grade Isolate. Domestically, CannAcubed will continue to work closely with Government & Private sector around the Textiles, Clean Energy, and Bio-New Materials sector.
Leading up to the collaboration with Theracann, CannAcubed has been working with some of China’s largest organizations to build the world’s first ever environmental Industrial Hemp Eco-Park in the Yunnan province.