お知らせ • Feb 13
BOTS, Inc. Announces Blockchain and Robotics Based Initiative to Optimize Supply Chain Management for the Legal Cannabis Industry
BOTS, Inc. announced its initiative on building a global supply chain platform based on advanced blockchain technology with a focus on the legal cannabis industry. Cannabis companies will benefit from blockchain technology for a range of applications, from optimizing efficiency to transparency in business transactions, to securely storing and monitoring inventory, financial and regulatory data on the blockchain involving a concept known as "Seed-to-Sale." Technology executives in the Cannabis Industry are considering the following key benefits in determining whether and how blockchain technology will serve their companies: Transparency and Compliance: Blockchain, by design, enables greater transparency and efficiency. Sharing digital blockchain information in joint-operating agreements reduces, if not eliminates, the need for reconciliations between companies and data hubs controlled by third parties. This completely disrupts the current processes for balloting partners on new projects, performing joint interest billing, and reporting production revenue. Smart Contracts: The size and volume of contracts and transactions necessary to execute projects in the $22 Billion Cannabis Industry have historically caused significant reconciliation and tracking issues among contractors, subcontractors, suppliers, and regulators. These also pose significant challenges in managing logistics forsupplies, tracking costs, and deploying inventory. Companies utilizing the company's blockchain solutions, however, generate cascading purchase orders, change orders, receipts, and other trade-related documentation and data on inventory by following specific codified rules. Drafting agreements that afford new tracking, bookkeeping, and automation methodologies create a more efficient supply chain, improving capital project spend analytics, and simplifies contractual obligations. Simply put, this game-changing technology provides knowledge of who gets paid and how much, as well as insight into whom along the chain is performing as explicitly and contractually mandated. Trading and Third-party Impacts: Blockchain technologies are disrupting many industries including legal cannabis markets. Blockchain-enabled applications can also address issues such as reduced costs, reducing fraud, error, and otherwise compromised transactions, and limiting credit risk and transaction finance requirements. By trading cannabis raw materials and finished products on a blockchain solution, market participants benefit from increased exchange speed, improved availability of data, and enhanced reliability and suitability as transactions are verified in real-time. Ultimately, this could result in minimizing transaction errors and overall costs.