Tech titan IBM is pitching blockchain technology as a supply-management tool for British Columbia’s recreational and medical cannabis industry, a possible sign that Big Blue is eyeing Canada as a way to enter the marijuana sector.
IBM submitted a paper to British Columbia after the government requested suggestions for its forthcoming marijuana legislation.
The Canadian Press noted that IBM has invested a large sum in blockchain technology, which Atonomous Research describes as “a database or ledger that maintains a continuously growing list of data records or transactions.”
IBM is not known to have any marijuana-related business interests.
The Canadian government is legalizing marijuana for recreational use starting next summer, and provinces are responsible for coming up with a regulatory framework involving taxation, distribution and retail.
Establishing and maintaining a national tracking system will be the responsibility the federal government.
IBM said: “Blockchain is an ideal mechanism in which BC can transparently capture the history of cannabis through the entire supply chain, ultimately ensuring consumer safety while exerting regulatory control – from seed to sale,” according to Bloomberg.
British Columbia’s government aims to pass legislation next spring regulating recreational marijuana.
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