Even though the legalization of cannabis is gaining traction, the cannabis industry is still largely fragmented due to the economic ecosystem that remains shrouded in black market practices. Budbo will be the first-of-its-kind, fully integrated blockchain-based solution for the transparent, standardized, and regulated interaction between cannabis users, dispensaries and couriers. Budbo is a best-in-class platform already actively being used by more than 75,000 mobile users and over 2000 suppliers (dispensaries). Budbo consists of a mobile phone app and a cloud-based backend business intelligence platform. The platform is designed to match cannabis users’ top picks or close matches of cannabis strains and products and direct them to nearby dispensaries which are carrying these products. The platform also provides a delivery tracking service aimed at ensuring full visibility and compliance into the cannabis delivery process.

Budbo has over 150 vehicles currently being tracked every day. To round out the offering and provide a rewards program, we are now combining this cannabis product pursuit and tracking platform with the crypto blockchain model. The blockchain model will easily accommodate several stages of the cannabis pursuit, sales and logistics processes, addressing the following:
• Recording and Storing Product Life Cycle Events
• Verifying Patient Identification
• Transaction Assurance
• Equipment Ordering
• Inventory Management
• Seed to Sale Tracking
• Client Management
• Delivery Tracking and Verification
• Platform Analytics

The blockchain technology offers a way to streamline all these channels simultaneously as it holds an immutable ledger that leverages crypto-tokens built on smart contracts. Budbo Token transactions will be instant, and average transaction confirmation time will be within minutes. All transactions will be secured with state-of-the-art cryptography, and blockchain integrity will be protected by CPU efficient ASIC resistant proof of work. This unique model allows us to fill numerous operational and process gaps for cannabis businesses. The adoption of blockchain cryptocurrency technology is the next logical step in the development and growth of Budbo’s platform. It enables us to create a structure that solves many of the issues surrounding the supply chain management of the cannabis industry.