Category: Distributed Ledger Technology

DTG’s Craig Drabik and Canopyright Founder Jeffrey Hamilton with Hedera’s Gehrig Kunz on DLT and Blockchain in the Real-world

Posted on | by

Cannabis entrepreneur Jeffrey Hamilton and TxMQ DTG Practice Manager Craig Drabik join host Gehrig Kunz on Blockchain in the Real-world to discuss cannabis IP rights and the role of the Hedera network in the development of Canopyright.

Canopyright employs distributed ledger technology on the Hedera network to provide a “decentralized herbarium where marijuana breeders can register their unique cultivars and transact business with growers effortlessly, securely, confidentially, and paperlessly.”

TxMQ’s Disruptive Technologies Group specializes in applying cutting edge technologies such as blockchain, IoT, and machine learning to solve critical business problems and open up new business models.

Ready to learn how DTG can help you use emerging technologies to disrupt your industry?  Contact us to schedule a free discovery session today!

 

Blockchain Proof of Concept, Medical Cannabis Seed to Sale Tracking

Posted on | by

Industry: Government, Medicinal Cannabis

Overview: Utilize a Distributed Ledger Technology (DLT) or Blockchain Solution to create a trusted, immutable record for confirming registration, licensing, certification, credentialing, and payment processing. Also includes a tracking system component for chain of custody, supply chain management, and inventory management.

Challenge: Within the highly regulated medical cannabis industry there was a need for a secure solution that offered immutability, redundancy, transaction management, and provenance in an easy to use format that insured trust.

Solutions: Utilize DLT network through a web application interface.

Technologies: Hedera Hashgraph, Cross-platform mobile applications

 

Summary:

The Medicinal and Recreational Cannabis industries are currently in early stages of growth. There are still several states that don’t offer medical cannabis, and even fewer offer access to recreational cannabis. As the highly regulated industry grows there is an increasing demand for trusted technology solutions that can answer the need for end to end tracking throughout the supply chain and purchasing process with proven trust and improved auditability.

Throughout its cycle of cultivation, extraction, testing, distribution and retail, cannabis must be tracked and documented at each step, and able to be easily audited by regulatory agencies. While many existing legacy technologies may have this capability, distributed ledgers have those features inherently, so DLT was chosen as the ideal technology behind the platform.

Some DLT platforms, most notably Blockchain, still have some technical shortcomings such as scalability and transaction speed. For this reason we turned to Hedera Hashgraph’s recently launched public network. Hedera’s platform offers many similar features including the same trust and immutability that other Blockchain Platforms can offer, but with vastly superior speed, efficiency, and scalability.

The solution includes an immutable data store (the Ledger) that cryptographically secures, holds and manages Credentials of Patients, Pharmacy/Retail Centers, and Cultivators – in alignment with the verification of Regulators. Smart Contracts are able to govern and validate transactions between all actors in the system, at every junction between the parties. In addition, the solution used the same technical capabilities to track and audit Product Inventory, Transformation, and Destruction activities. There was also an option to use a cryptocurrency as a payment mechanism, which is an important aspect of the system. It enables regulators to transparently collect applicable taxes at the time the transaction is executed, and has the potential to ease the difficulties that legal marijuana businesses encounter due to existing banking regulations.

Cannabis Tracking – Customer Purchase Example Walkthrough

Download the Cannabis Tracking Design Walkthrough PDF

Pharmaceutical Supply Chain Track and Trace Proof-of-Concept

Posted on | by admin

Industry: Medical Prescription Manufacturing, Shipping and Logistics

Overview: Utilize Blockchain to create a trusted, immutable record for tracking shipments of highly regulated substances such as opioids.

Challenge: Tracking shipments of highly regulated products is often cumbersome with many parties involved in manual processes which opens the process up to a high potential for inaccuracy or fraud.

Solutions: Utilize a distributed ledger, on a Swirlds Hashgraph network to more accurately track shipments of highly regulated substances.

Technologies: Swirlds Hashgraph

 

Summary:

Within the pharmaceutical supply chain, regulatory compliance can place a massive burden on all parties. Many existing supply chains utilize manual processes that can drastically increase the possibility of manual errors and the potential for fraud. Since the introduction of Blockchain and Distributed Ledger Technology, Shipping, Logistics, and Supply Chain tracking have become one of the most popular use cases.

This proof of concept we were able to demonstrate that Blockchain technology is an ideal solution for tracking and compliance. Within the Pharmaceutical Supply Chain, Blockchain can be used to create more transparency throughout the process, in addition to an immutable record to ensure safety requirements and regulations are being met and are in compliance. It was built as a demonstration for applying Swirlds Hashgraph technology to the regulated supply chain space.

UX Examples of Reports from Solution

DLT Solution for Medical Credentialing Tracking

Posted on | by admin

Industry: Healthcare

Overview: The Customer wanted to integrate DLT into their existing medical credentials management platform in order to enhance trust in the information and reduce the amount of time required to verify credentials.

Challenge: Verifying medical credentialing is a very lengthy process in a highly regulated industry. In most cases the process can take weeks or even months to verify credentials, and many times has to be redone for verification purposes in each instance, such as medical professionals taking on other work-as is common in the field.

Solutions: Using the customer’s existing Salesforce application, TxMQ connected it to a distributed ledger network via REST API. The system includes an innovative mechanism for storing credential documents securely, with high availability.

Technologies: Salesforce, Swirlds Hashgraph, Java 8, CouchDB

 

Summary:

A Healthcare Practice Management organization wanted to add distributed ledger technology to their existing credential management platform. The client was looking for a way to shorten the lengthy credential verification process by enhancing trust in the credentials stored on the platform, while ensuring they were stored in a secure, tamper proof environment to avoid fraud and legal issues for their organization and clients.

A DLT solution quickly became the leading technology choice to underpin the solution and deliver the desired result. The Healthcare Practice Management organization had evaluated several blockchain-based platforms and found that they didn’t quite offer the needed stability, scalability, and high availability that was needed. For that reason they chose to utilize the technology from Swirlds, which uses Hashgraph with a unique Asynchronous Byzantine Fault Tolerant consensus mechanism that is built into a private network.